Urban Edge Pptys Stock Price, News & Analysis

Urban Edge Properties (NYSE: UE) hosted its Investor Day, outlining growth opportunities and updating its 2023 outlook. The company raised its FFO as Adjusted guidance by $0.02 to $1.16 per share, citing higher NOI growth alongside reduced general and administrative costs. Additionally, a three-year target for FFO as Adjusted was set at $1.35 per share, a 16% increase over the revised 2023 target. Chairman and CEO Jeff Olson emphasized the resilience of retail real estate post-pandemic, noting a projected 20% growth in NOI over three years, primarily from executed leases and rent bumps. Urban Edge manages 76 properties, totaling 17.2 million square feet, strategically positioned in the D.C. to Boston corridor.

Urban Edge Properties (NYSE: UE) has successfully refinanced its mortgage loan for Bergen Town Center with a new $290 million fixed-rate mortgage, replacing the previous $300 million mortgage. Provided by New York Life Insurance Company and MetLife Investment Management, this refinancing reduces the company’s debt maturing through 2025 to $235 million, which is less than 15% of its outstanding indebtedness. The CEO Jeff Olson expressed satisfaction with this achievement amid volatile debt capital markets. Bergen Town Center, located in Paramus, New Jersey, features a Whole Foods and Target and attracts over 11 million visitors annually.

Urban Edge Properties (NYSE: UE) will release its first quarter 2023 earnings on May 9, 2023, before market opening. An earnings conference call will take place that same day at 8:30am ET, accessible via phone or audio webcast. The call will be available for replay for one year on the company's investor page. Urban Edge manages and develops retail real estate primarily along the Washington, D.C. to Boston corridor, owning 76 properties with a total of 17.2 million square feet of gross leasable area.

Urban Edge Properties (NYSE: UE) has declared a regular quarterly dividend of $0.16 per common share. This dividend will be payable on March 31, 2023, to shareholders of record on March 15, 2023. Urban Edge Properties is a real estate investment trust that focuses on managing, acquiring, and developing retail properties in urban areas, primarily along the Washington, D.C. to Boston corridor. The firm operates 76 properties with a total gross leasable area of 17.2 million square feet.

Urban Edge Properties (NYSE:UE) announced its financial results for Q4 2022, reporting a 22% increase in FFO as Adjusted year-over-year, amounting to $40.6 million. The firm executed over one million square feet of new leases in 2022, contributing to an NOI growth pipeline of $29 million. However, net income decreased significantly to $13.7 million compared to $42.5 million in Q4 2021, attributed to prior year gains from real estate sales. For 2023, Urban Edge anticipates net income of $0.27 to $0.33 per diluted share and FFO between $1.10 and $1.16 per diluted share. The company will host an Investor Day on April 18, 2023.

Urban Edge Properties (NYSE: UE) announced the federal income tax treatment of its 2022 dividend distributions, totaling $0.64 per share. Key dates include the record date of March 15, 2022 and the payment date of March 31, 2022, with similar distributions occurring quarterly. All distributions are considered ordinary taxable income. Shareholders are encouraged to consult tax advisors for specific implications. Urban Edge operates within the retail real estate sector, focused on urban communities and managing 76 properties.

Urban Edge Properties (NYSE: UE) reported a record leasing volume in 2022, signing over 1 million square feet of new leases, surpassing the previous record of 683,000 square feet. Same-property leased occupancy reached 95.4%, a 110 basis point increase from December 31, 2021. The company announced a pipeline of signed but not yet commenced leases amounting to $29 million in annual gross rent, constituting about 12% of its current NOI. Additionally, Urban Edge has approximately 800,000 square feet of new leases under negotiation with cash spreads exceeding 15%.

Urban Edge Properties (NYSE: UE) will announce its fourth quarter and year-end 2022 earnings on February 14, 2023, before market opening. The earnings conference call is scheduled for the same day at 8:30am ET, with access available via phone or webcast. Urban Edge, a real estate investment trust, focuses on retail properties from Washington, D.C. to Boston, owning 76 properties with a gross leasable area of 17.2 million square feet.

Urban Edge Properties (NYSE: UE) announced its Q3 2022 results, reporting net income of $11.4 million ($0.10 per diluted share), down from $27.8 million and $0.24 per share in Q3 2021. Funds from Operations (FFO) was $35.9 million ($0.29 per share), down from $45.3 million ($0.37 per share) in the same period last year. However, future gross rent from executed leases not yet commenced has grown to $28 million, representing 12% of annualized NOI. The company declared a quarterly dividend of $0.16 per share, payable on December 30, 2022. Full-year guidance estimates net income of $0.36 to $0.38 per diluted share.