Welcome to our dedicated page for Urban Edge Pptys news (Ticker: UE), a resource for investors and traders seeking the latest updates and insights on Urban Edge Pptys stock.
Urban Edge Properties (NYSE: UE) is a real estate investment trust focused on owning, managing, acquiring, developing and redeveloping retail real estate in urban communities, primarily in the corridor between Washington, D.C. and Boston. The UE news feed on Stock Titan aggregates company announcements, press releases and market updates related to this retail-focused REIT.
Investors following UE news can review quarterly earnings releases, where Urban Edge reports net income, Funds From Operations (FFO), FFO as Adjusted, same-property Net Operating Income (NOI) growth and occupancy metrics. These releases often include updated full-year guidance ranges and assumptions, along with reconciliations of non-GAAP measures to net income.
The news stream also features dividend declarations from the Board of Trustees, detailing regular quarterly common dividends and key dates for shareholders of record. In addition, Urban Edge issues announcements about acquisitions, dispositions and capital recycling, such as the sale of non-core properties and the use of proceeds to fund new investments, including grocery-anchored shopping centers in its target markets.
Other UE news items highlight financing transactions, including non-recourse mortgage loans secured by specific properties and activity under the company’s revolving credit agreement, as well as updates on leasing, development and redevelopment projects at its centers. Corporate responsibility updates, such as the publication of the company’s Corporate Responsibility Report and progress on sustainability goals, are also part of the coverage.
Use this page to review Urban Edge Properties’ latest earnings announcements, dividend news, transaction updates and corporate responsibility disclosures in one place.
Urban Edge Properties (NYSE:UE) has announced the acquisition of Sunrise Mall in Massapequa, NY for $29.7 million, with up to $6 million in contingent consideration. This property consists of 1.2 million square feet of retail space on 77 acres. Currently 65% occupied, it features anchor tenants like Macy’s and Sears. The location benefits from excellent access and is situated in a region with a population of 1.0 million and an average income of $125,000. Urban Edge has partnered with Sagamore Hill Partners and JG Petrucci to maximize redevelopment opportunities.
Urban Edge Properties (NYSE:UE) announced a significant special dividend of $0.46 per share, driven by tax gains from the modification of a $129 million mortgage on Las Catalinas Mall. The loan has been modified to allow for a discounted repayment option and interest-only payments starting at 3%, enhancing financial flexibility. Additionally, the Company plans to reinstate a quarterly dividend of $0.15 per share beginning March 2021, contingent on board approval. Rent collection rates improved from 78% in Q2 to 90% in October, suggesting a positive trajectory.
Urban Edge Properties (NYSE: UE) reported a net loss of $5.8 million, or $(0.05) per diluted share, for Q3 2020, a decline from a net income of $56.7 million in Q3 2019. For the nine months ending September 30, 2020, net income was $78 million, down from $112.7 million in 2019. Funds from Operations (FFO) dropped to $16.9 million for the quarter, compared to $38.2 million the previous year. The COVID-19 pandemic impacted results significantly, with $11.5 million in uncollectible rental revenue. Despite challenges, occupancy rates improved to 93%. The company has $1 billion in total liquidity and an active redevelopment pipeline.