UE
Urban Edge Properties19.46
-0.21-1.07%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Recycling details, NOI headwinds clarified
Q&A unpacked capital recycling nuances, revealing plans to 1031 proceeds from the Bridgewater acquisition (>7.5% cap) into a Kohl's-anchored New Jersey center, further trimming Kohl's exposure alongside a Framingham space take-back, as cap spreads narrow but buys offer 2-3% higher growth. Management pegged 2026 SPNOI headwinds at ~$2M from At Home/SACS fallout, tempering growth before 2027's signed pipeline reacceleration, while cutting bad debt guidance to 50-75 bps on cleaner tenancy. Shop occupancy eyes 94% steady-state. Cap rates are compressing fast. Redevelopments bucket into routine 14-16% yields and transformative plays like Bruckner, doubling NOI to $15M by 2028. Confident tone persists; watch recycling execution.
Key Stats
Market Cap
2.63BP/E (TTM)
21.87Basic EPS (TTM)
0.89Dividend Yield
0.04%Recent Filings
10-K
FY2025 results
Urban Edge Properties delivered FY2025 results with revenue up 6.1% y/y to $471.9M, driven by rent commencements and contractual escalations, while NOI climbed 6.0% to $289.6M and same-property NOI rose 4.3% y/y. Q4 momentum accelerated as leasing signed 58 new deals totaling 360,691 sf at 53.4% GAAP spreads, completed 14 redevelopment projects yielding 19% unleveraged returns, and activated 11 projects at 14% yield. Debt posture strengthened with $1.6B fixed-rate mortgages at 5.03% weighted average, $78.9M cash, and $769.8M revolver availability; no buybacks or dividends changed. No annual guidance disclosed in the 10-K. E-commerce pressures risk quarterly leasing momentum.
8-K
UE lifts dividend 11%, guides FFO growth
Urban Edge Properties reported 2025 results on February 11, 2026, with FFO as Adjusted per share up 6% to $1.43, fueled by 4.3% same-property NOI growth and record 32% cash spreads on 361,000 sf new leases. Shop occupancy hit 92.6%. Board hiked dividend 11% to $0.21 quarterly; 2026 FFO as Adjusted guides $1.47-$1.52. Strong liquidity bolsters growth.
8-K
Upsizes credit to $950M
Urban Edge Properties' operating partnership signed a restated credit agreement on January 22, 2026, trimming its revolver to $700M from $800M while extending maturity to June 2030 (plus two 6-month options) and adding $250M in delayed-draw term loans maturing 2031 and 2033. Aggregate capacity hits $950M, up $150M, with current SOFR spreads at 1.00% revolver/1.15%-1.50% terms and no draws yet. Facilities support growth via acquisitions and development. Covenants cap leverage at 60%.
8-K
Q3 beat, raised guidance
Urban Edge Properties posted Q3 net income of $0.12 per diluted share, up from $0.07, with FFO as Adjusted at $0.36 per share and same-property NOI growth of 4.1%. They acquired Brighton Mills Shopping Center for $39 million on October 23 via 1031 exchange, boosting Boston exposure past 10% of assets. Raised 2025 FFO as Adjusted guidance midpoint to $1.43 per share. Leasing momentum strong. Debt maturities low through 2026.
10-Q
Q3 FY2025 results
Urban Edge Properties posted solid Q3 momentum, with rental revenue up 6.2% y/y to $119.2M and total revenue climbing 6.8% y/y to $120.1M, while net income doubled to $15.5M or $0.12 diluted EPS on 125.8M shares. YTD revenue rose 7.3% y/y to $352.4M and net income more than doubled to $84.7M or $0.64 diluted EPS, fueled by $49.7M gains from property sales yet offset by higher depreciation. Cash swelled to $77.8M plus $67.0M restricted, revolver fully available at $767.8M capacity, and mortgages held steady at $1.63B net amid Shoppers World financing. Operating cash flow hit $131.7M YTD. Tenant bankruptcies pose re-leasing risks.
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