secwatch.observer — SEC 8-K summary
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Issuer:     Urban Edge Properties (UE)
CIK:        0001611547
Form:       8-K
Filed at:   2021-11-03T23:59:59+00:00
Accession:  0001611547-21-000079
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban Edge Q3 net income $27.8M vs loss of $5.6M; FFO $0.37; same-property NOI up 26.4%
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- Net income $27.8M ($0.24 diluted) vs net loss $5.6M ($0.05 loss) Q3 2020; FFO as Adj $0.28 vs $0.19.
- Same-property NOI up 26.4% (incl redev) driven by $11.4M lower uncollectible rent; leased occupancy 92.8% +80 bps.
- Acquired two industrial warehouses for $55.5M; sold properties for $5.5M and $11.8M.
- Terminated three Kmart/Sears leases for $20M to reposition; signed leases have $16M future annual gross rent.
- Balance sheet: $1B liquidity, net debt to market cap 33%, no debt maturing in 2021.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611547/000161154721000079/0001611547-21-000079-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611547/000161154721000079/ue-20211103.htm
  HTML page:      https://secwatch.observer/filing/0001611547-21-000079

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