Urban Edge Properties Q3 FFO as Adjusted $0.30 vs $0.28; FY22 guidance $1.17-$1.19

Urban Edge Properties

2022-Q3 EPS reported $0.28 revenue$296,345,000

Net income $11.4M ($0.10 diluted) vs $27.8M ($0.24) in Q3 2021; adjusted FFO per share up 7%.
Same-property NOI (ex-redevelopment) grew 3.4% YoY; portfolio leased occupancy 94.7%, up 180 bps YoY.
Executed anchor lease with Target at Bruckner Commons (139k sf); future gross rent from uncommenced leases $23.8M (10% of annualized NOI).
FY22 guidance: FFO as Adjusted $1.17-$1.19 per share; net income $0.36-$0.38 per share.
Quarterly dividend maintained at $0.16 per share; payable Dec 30, 2022 to holders of record Dec 15.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Urban Edge Properties reported the third quarter of 2022 results: net income $11.4 million, EPS $0.10 per diluted share.

Period: the third quarter of 2022
Net income: $11.4 million
EPS: $0.10 per diluted share
Result: reported results

Exact text from the filing

Generated net income attributable to common shareholders of $11.4 million, or $0.10 per diluted share, for the third quarter of 2022 compared to $27.8 million, or $0.24 per diluted share, for the third quarter of 2021 and $32.5 million, or $0.28 per diluted share, for the nine months ended September 30, 2022 compared to $60.2 million, or $0.51 per diluted share, for the nine months ended September 30, 2021.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Urban Edge Properties reported the nine months ended September 30, 2022 results: net income $32.5 million, EPS $0.28 per diluted share.

Period: the nine months ended September 30, 2022
Net income: $32.5 million
EPS: $0.28 per diluted share
Result: reported results

Exact text from the filing

Generated net income attributable to common shareholders of $11.4 million, or $0.10 per diluted share, for the third quarter of 2022 compared to $27.8 million, or $0.24 per diluted share, for the third quarter of 2021 and $32.5 million, or $0.28 per diluted share, for the nine months ended September 30, 2022 compared to $60.2 million, or $0.51 per diluted share, for the nine months ended September 30, 2021.

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Source: SEC EDGAR

accession 0001611547-22-000106

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