12:31 PM EDT, 10/01/2024 (MT Newswires) -- Curbline Properties (CURB) shares were down 13% on their first day of trading after splitting from Site Centers ( SITC/WI ) .

Curbline began trading on the New York Stock Exchange with the ticker symbol "CURB."

The previously announced spinoff saw Site Centers ( SITC/WI ) shareholders receive 2 shares in Curbline for every stock held in the firm at close of business on Sept. 23.

Site Centers ( SITC/WI ) previously said Curbline Properties would be capitalized with $600 million of cash. The real estate investment trust would also have a $400 million undrawn, unsecured line of credit, and a $100 million unsecured, delayed draw term loan, with no indebtedness.

Price: 21.40, Change: -2.95, Percent Change: -12.11