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Urban Edge Properties (symbol: UE) is a well-established Real Estate Investment Trust (REIT) specializing in the acquisition, development, ownership, management, and enhancement of shopping centers, predominantly located in and around urban communities. As of now, the company boasts an owned portfolio that spans a remarkable 14.9 million square feet across 84 properties. Additionally, Urban Edge manages over 5 million square feet for other entities.
Urban Edge’s core assets are strategically concentrated within the Washington, DC to Boston corridor, with notable presence in Puerto Rico and California. The company was initially formed to hold the majority of Vornado Realty Trust's shopping center businesses, a heritage that has shaped its strong portfolio of retail properties.
The company’s holdings predominantly feature necessity and convenience-oriented retailers, including department stores, grocery stores, health clubs, and restaurants. This diversified mix of tenants generates almost all the company's revenue through collected rent, ensuring a stable income stream.
Urban Edge’s current projects and recent achievements highlight its commitment to improving and expanding its portfolio. The company is continuously investing in property enhancements to boost asset value and tenant satisfaction, particularly focusing on urban areas where retail demand remains robust.
In terms of financial condition, Urban Edge maintains a solid balance sheet, which provides it with the flexibility to pursue new investment opportunities and manage its existing assets effectively. The company’s strategic partnerships also play a crucial role in its growth, allowing it to leverage shared expertise and resources.
Overall, Urban Edge Properties stands out for its strategic focus on urban retail real estate, its robust portfolio, and its dedication to enhancing its properties and tenant relationships. This positions the company as a significant player in the REIT sector, particularly within urban settings.
Urban Edge Properties (NYSE:UE) has successfully amended and restated its unsecured revolving credit facility, increasing the amount from
Urban Edge Properties (NYSE:UE) has declared a quarterly dividend of
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.
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.
Urban Edge Properties (NYSE:UE) will release its first quarter 2022 earnings on May 5, 2022, prior to market open. An earnings conference call will take place at 8:30 AM ET on the same day, accessible via phone or webcast. A replay will be available for a year, and a telephonic replay will be offered from May 5 to May 19, 2022. Urban Edge focuses on managing and developing retail real estate in urban areas, particularly along the Washington, D.C. to Boston corridor, owning 75 properties with a total of 17.2 million square feet of leasable area.
Urban Edge Properties (NYSE:UE) announced that CEO Jeff Olson will present at the 2022 Citi Global Property CEO Conference on March 8, 2022, at 1:15 PM EST. Interested parties can register for the live presentation via the Citi Conference link or at www.uedge.com. A replay will be available for one year post-conference.
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