Urban Edge Properties ( (UE) ) has released its Q1 earnings. Here is a breakdown of the information Urban Edge Properties presented to its investors.
Urban Edge Properties is a real estate investment trust (REIT) that focuses on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. The company owns 74 properties totaling 17.3 million square feet of gross leasable area.
Urban Edge Properties reported a strong first quarter for 2025, with notable increases in key financial metrics. The company achieved a 6.0% increase in Funds from Operations (FFO) as Adjusted and a 3.8% rise in same-property Net Operating Income (NOI) compared to the same period last year. This growth is attributed to new lease commencements, higher net recovery revenue, and acquisitions completed in 2024.
Key financial highlights include a significant rise in net income attributable to common shareholders, which increased to $8.2 million from $2.6 million in the previous year. The company’s FFO reached $45.5 million, up from $39.1 million, while FFO as Adjusted was $45.9 million, compared to $40.8 million in the prior year. Urban Edge also reported a consolidated portfolio leased occupancy of 96.4%, and executed 42 new leases totaling 434,000 square feet during the quarter.
Urban Edge’s strategic initiatives include the completion of a $25 million sale of a portion of its Bergen Town Center East property and the activation of two redevelopment projects totaling $13.7 million. The company is actively managing its balance sheet, with total liquidity of approximately $791 million and limited debt maturities through December 2026.
Looking ahead, Urban Edge Properties has updated its 2025 full-year guidance, estimating net income per diluted share between $0.40 and $0.45, and reiterating its FFO guidance of $1.36 to $1.41 per diluted share. The company remains focused on executing its strategic plan to capitalize on robust market demand through leasing, redevelopment, and investment strategies.