secwatch.observer — SEC 8-K summary
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Issuer:     Urban Edge Properties (UE)
CIK:        0001611547
Form:       8-K
Filed at:   2022-02-16T23:59:59+00:00
Accession:  0001611547-22-000011
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 Properties Q4 net income $42.5M ($0.36/sh); dividend raised 6.7%, Woodmore Towne Centre acquired for $193.4M
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- Net income $42.5M ($0.36/sh) vs $19.0M ($0.16/sh) in Q4 2020; FFO as adjusted $0.27/sh vs $0.23/sh.
- Same-property NOI (ex redevelopment) up 17.5% Q4; portfolio leased occupancy 94.1% (+250bps YoY).
- Acquired Woodmore Towne Centre for $193.4M (initial yield 6.4%); funded with 10-year $117.2M mortgage at 3.39%.
- Board raised quarterly dividend to $0.16/sh ($0.64 annual), +6.7% over prior annual rate of $0.60.
- Executed 815k sf of leases; same-space rent spreads +20.1% GAAP; 99% of Q4 base rents collected.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611547/000161154722000011/0001611547-22-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611547/000161154722000011/ue-20220216.htm
  HTML page:      https://secwatch.observer/filing/0001611547-22-000011

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