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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) announced a quarterly cash dividend increase of 6.7%, alongside robust financial results for Q4 and the year ended December 31, 2021. Q4 net income attributable to common shareholders reached $42.5 million ($0.36/share), up from $19.0 million ($0.16/share) in Q4 2020. Funds from Operations (FFO) also rose, totaling $67.8 million ($0.56/share) for the quarter. Notably, same-property Net Operating Income (NOI) grew by 16.0% year-over-year, reflecting strong leasing activity with a portfolio leased occupancy of 94.1%. Total liquidity stands at approximately $820 million.
Urban Edge Properties (NYSE: UE) announced the tax treatment for its 2021 dividend distributions, totaling
Urban Edge Properties (NYSE:UE) announced it will release its fourth quarter and year-end 2021 earnings prior to market open on
Urban Edge Properties has acquired Woodmore Towne Centre, a 712,000 square foot grocery-anchored power center in Glenarden, MD for $193.4 million, closed on December 23, 2021. This acquisition aligns with Urban Edge's strategy of obtaining high-quality, infill real estate.
The site, situated near Washington, D.C., is well-positioned with a 5-mile population of 287,000 and average household incomes of $106,000. The property is 97% leased and features leading retailers such as Wegmans and Costco.
Urban Edge Properties (NYSE:UE) has appointed Norman K. Jenkins to its Board of Trustees, effective November 22, 2021. Jenkins brings over 25 years of real estate experience and currently serves as President and CEO of Capstone Development. He has previously held leadership roles at Marriott International, where he developed the Diversity Ownership Initiative. Urban Edge, based in the New York metropolitan area, manages 75 properties totaling 16.4 million square feet of gross leasable area. This leadership change aims to enhance stakeholder value.
Urban Edge Properties (NYSE: UE) reported a strong third quarter for 2021, with net income of $27.8 million ($0.24 per diluted share), reversing a $5.6 million loss in Q3 2020. Funds from Operations (FFO) rose to $45.3 million ($0.37 per share), a significant increase from $16.9 million in the previous year. Same-property Net Operating Income (NOI) grew by 26.4%, driven by improved leased occupancy at 92.8%. The company maintained strong liquidity, reporting $1 billion in available resources. Urban Edge is actively pursuing redevelopment projects and has expanded its acquisition pipeline.
Urban Edge Properties (NYSE:UE) declared a quarterly dividend of
Urban Edge Properties (NYSE:UE) will release its third quarter 2021 earnings on November 3, 2021, after market close. The company, focused on urban retail real estate, owns 76 properties encompassing 16.4 million square feet of gross leasable area primarily in the New York metropolitan region.
Urban Edge Properties (NYSE: UE) has declared a quarterly dividend of $0.15 per common share, payable on September 30, 2021, to shareholders on record as of September 15, 2021. This announcement underscores Urban Edge's commitment to returning value to its investors as it continues to manage, acquire, and develop retail real estate primarily within the New York metropolitan area. With ownership of 76 properties totaling 16.2 million sq ft of gross leasable area, Urban Edge maintains a strategic position in urban communities.
Urban Edge Properties (NYSE: UE) reported its Q2 2021 earnings, showcasing a net income of $12.5 million ($0.11/share), a decline from $31.3 million ($0.27/share) in Q2 2020. Funds from Operations (FFO) were $35.4 million ($0.29/share), compared to $55.7 million ($0.46/share) last year. The same-property Net Operating Income (NOI) rose by 23.9% due to reduced uncollectible rental revenues. The leased occupancy of the same-property portfolio increased to 92.0%. Total liquidity remains strong at $1 billion, with net debt at 31% of total market capitalization.
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