Urban Edge Pptys Stock Price, News & Analysis

Urban Edge Properties (NYSE:UE) announced the appointment of Susan Givens to its Board of Trustees, effective July 1, 2021, increasing the board size from eight to nine members. Givens brings nearly 20 years of experience in private equity, capital markets, and M&A to the role. She previously served as CEO of New Senior Investment Group and held positions at Fortress Investment Group. Chairman and CEO Jeff Olson expressed confidence that Givens' expertise will support Urban Edge's growth strategy in retail real estate management and development.

Urban Edge Properties (NYSE:UE) declared a quarterly dividend of $0.15 per common share, payable on June 30, 2021, to shareholders of record on June 15, 2021. The company focuses on managing, acquiring, and redeveloping retail real estate in urban areas, mainly in the New York metropolitan region, with a portfolio of 77 properties encompassing 16.2 million square feet of gross leasable area.

Urban Edge Properties (NYSE: UE) reported its Q1 2021 results, showing a net income of $20.7 million ($0.17/share) down from $51.3 million ($0.40/share) in Q1 2020. Funds from Operations (FFO) were $31.8 million ($0.26/share), a decline from $34.8 million ($0.27/share) last year. Rent collection improved to 95% amidst retail recovery, with strong leasing activity leading to 44 new leases totaling 357,000 sq ft. However, same-property NOI dropped by 5.8%, and consolidated occupancy fell to 88.9%. The company maintains a robust liquidity position with $1 billion available.

Urban Edge Properties (NYSE:UE) will announce its first quarter 2021 earnings on May 3, 2021, after market close. The company is a real estate investment trust that specializes in managing, acquiring, and developing retail real estate in urban communities, particularly in the New York metropolitan area. Urban Edge manages 77 properties with a total of 16.2 million square feet of gross leasable area, indicating its significant presence in the retail sector.

Urban Edge Properties (NYSE: UE) will participate in the 2021 Citi Virtual Global Property CEO Conference from March 8 to March 11, 2021. CEO Jeff Olson is set to present on March 10, 2021, at 2:00 p.m. EST. An audio-only webcast will be available for investors at this link, with a presentation deck posted on the company’s website. A replay of the webcast will be accessible until March 10, 2022. Urban Edge manages and develops retail properties, primarily in urban settings, owning 78 properties with a total of 16.2 million square feet of gross leasable area.

Urban Edge Properties (NYSE:UE) reported a net income of $19.0 million, or $0.16 per diluted share, for Q4 2020, an increase from $3.4 million in Q4 2019. The full year net income decreased to $93.6 million, or $0.79 per diluted share, down from $109.5 million in 2019. FFO for Q4 was $49.0 million, or $0.40 per share, and $156.3 million for the year. The company experienced a 16.6% decline in same-property NOI for Q4 due to COVID-19 impacts, with total liquidity of $1 billion. A quarterly dividend of $0.15 per common share was declared.

Urban Edge Properties (NYSE: UE) provided details on the tax treatment of its 2020 dividend distributions. The company announced a total distribution of $0.68 per share for 2020, with the final payment made on January 19, 2021, for shareholders on record as of December 31, 2020. All distributions are classified as 'qualified REIT dividends' under Section 199A of the Internal Revenue Code. Investors are encouraged to consult tax advisors for personalized tax implications.

Urban Edge Properties (NYSE:UE) has appointed Danielle De Vita as Executive Vice President of Development. Ms. De Vita previously led over $3 billion in development projects at Simon Property Group and brings extensive experience in retail property development. She will spearhead Urban Edge's redevelopment strategy, focusing on projects in New Jersey and New York. Additionally, the company reported an increase in rent collections for Q4 2020, reaching 92%, up from 87% in Q3 and 80% in Q2.

Urban Edge Properties (NYSE:UE) will release its fourth quarter and year-end 2020 earnings on February 17, 2021, after market hours. The company focuses on managing, acquiring, developing, and redeveloping retail real estate, primarily in urban communities within the New York metropolitan area. Urban Edge owns 79 properties, covering a total of 16.3 million square feet of gross leasable area.