Urban Edge Properties Q1 FFO rises to $0.28/share; same-property NOI up 5.5%

Urban Edge Properties

2022-Q1 EPS reported $0.08 revenue$100,201,000

Net income of $9.5M ($0.08 diluted) vs $19.9M ($0.17) YoY; decrease due to $11.7M prior-year gain on sale.
FFO as adjusted of $34.5M ($0.28/share) vs $32.3M ($0.26) YoY.
Same-property NOI (ex redevelopment) up 5.5% YoY; leased occupancy 93.9%, +280bps YoY.
Declares Q2 dividend of $0.16/share, payable June 30, 2022 to holders of record June 15.
Liquidity of ~$800M; acquired $4.1M outparcel adjacent to Sunrise Mall in Massapequa, NY.

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