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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) 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.
Urban Edge Properties (NYSE:UE) will announce its Q2 2021 earnings before the market opens on August 4, 2021. An earnings conference call is scheduled for the same day at 8:30 a.m. EST. Interested parties can join the call by dialing 1-877-407-9716 (Toll-Free) or 1-201-493-6779 (Toll/International) with conference ID 13720762. The call will also be available via a webcast on Urban Edge's investor page.
Urban Edge Properties focuses on retail real estate in urban areas, primarily in the New York region, managing 77 properties with a total of 16.2 million square feet of leasable area.
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.
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