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 reports news as a NYSE-listed real estate investment trust focused on owning, managing, acquiring, developing and redeveloping retail real estate in urban communities, primarily along the Washington, D.C. to Boston corridor. Company updates commonly cover leasing activity, occupancy, same-property NOI, rental revenue, funds from operations, portfolio acquisitions and sales, and redevelopment activity across its retail property base.
Recurring announcements also include quarterly common dividends, annual REIT dividend tax treatment, earnings conference calls, credit facility amendments and other balance-sheet actions tied to the company’s retail real estate operating model.
Urban Edge Properties announces the appointment of Andrea Drazin as Chief Accounting Officer effective October 14, 2022, succeeding Jennifer Holmes, who is leaving for a Chief Financial Officer role elsewhere. Drazin, previously Vice President, Corporate Controller, has been with Urban Edge since 2015 and has a background in accounting at Deloitte & Touche. Additionally, Etan Bluman has been promoted to Senior Vice President of Finance and Investor Relations, having joined Urban Edge in 2017 as Tax Director and holding various roles since.
Urban Edge Properties (NYSE: UE) has announced the appointment of Katherine M. Sandstrom to its Board of Trustees, effective October 1, 2022. Ms. Sandstrom brings over twenty years of real estate investment experience, having served as Senior Managing Director at Heitman LLC, managing over $5 billion in assets. Currently, she is an independent director at Healthpeak Properties (NYSE: PEAK) and EastGroup Properties (NYSE: EGP). CEO Jeff Olson expressed confidence that her expertise will contribute significantly to the company’s long-term strategy.
Urban Edge Properties (NYSE:UE) has successfully amended and restated its unsecured revolving credit facility, increasing the amount from $600 million to $800 million. The new facility, which has a maturity date of February 9, 2027 (extendable to 2028), features an interest rate of SOFR plus 1.10% and an annual facility fee of 0.15%. Notably, an ESG pricing provision allows for a reduction in the interest margin based on sustainability performance. Notably, there are currently no amounts drawn on the line of credit.
Urban Edge Properties (NYSE:UE) has declared a quarterly dividend of $0.16 per common share, set for payment on September 30, 2022. Shareholders of record by September 15, 2022 will receive this dividend. The company, focused on urban retail real estate, operates 76 properties across a gross leasable area of 17.2 million square feet, primarily along the Washington, D.C. to Boston corridor.
Urban Edge Properties (NYSE: UE) reported its Q2 2022 results, achieving a net income of $11.6 million, down from $12.5 million in Q2 2021. Funds from Operations (FFO) increased to $36.2 million, or $0.30 per share, compared to $35.4 million, or $0.29 per share year-over-year. The company executed a record 716,000 sq ft in leasing activity with a portfolio occupancy rate of 94.9%. Additionally, total liquidity stands at approximately $771 million. The company completed $20.7 million in redevelopment projects and acquired The Shops at Riverwood for $32.9 million, supporting its growth strategy.
Urban Edge Properties (NYSE: UE) has been recognized as one of the best places to work in New Jersey by NJBIZ Magazine. This accolade reflects the favorable feedback from employees regarding the company's inclusive and collaborative culture. Urban Edge is committed to investing in programs that facilitate personal and professional growth for their staff. The recognition is part of an annual program by Best Companies Group, which evaluated companies based on employee engagement and satisfaction surveys.
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Urban Edge Properties (NYSE:UE) has successfully acquired The Shops at Riverwood, a grocery-anchored retail center in Boston for $32.9 million. This acquisition is part of the company’s strategy to invest in premier retail locations. The site, covering 78,000 square feet, includes a Price Rite Marketplace and will soon feature a Starbucks, enhancing visitor appeal. Funded through cash reserves and a $21.5 million non-recourse mortgage at a 4.25% interest rate, this acquisition is expected to benefit from strong local demographics with a 181,000 population nearby.
Urban Edge Properties (NYSE: UE) is set to release its second quarter 2022 earnings on August 3, 2022, before the market opens. An earnings conference call will follow at 8:30 AM ET on the same day. Interested parties can join the call by dialing 1-877-407-9716 (Toll Free) or via a webcast. The company, which operates in the retail real estate sector, owns 76 properties with a gross leasable area of 17.2 million square feet.
Urban Edge Properties (NYSE: UE) announced a quarterly common dividend of $0.16 per share and revealed its financial results for Q1 2022. The company reported a net income of $9.5 million, or $0.08 per diluted share, down from $19.9 million a year earlier. Funds from Operations (FFO) increased to $34.2 million, or $0.28 per share. Same-property Net Operating Income (NOI) rose 3.8%. The company improved occupancy to 93.9% and executed three new anchor leases, raising occupancy to 94.5%. With a total liquidity of $800 million, Urban Edge maintains a stable financial position.