Urban Edge raises 2023 FFO guidance to $1.16/share midpoint, targets $1.35 FFO in 2025

Urban Edge Properties

2023 FFO as Adjusted guidance raised by $0.02 to $1.16 at midpoint; same-property NOI growth guided 0%–2%.
Three-year plan targets $1.35 FFO per share in 2025, up 16% from 2023 midpoint; dividend expected to grow accordingly.
Portfolio NOI projected to grow 20%+ over three years, ~80% from executed leases and contractual bumps.
Active redevelopment pipeline of $216M expected to generate a 12% unlevered yield; 95% pre-leased.
Management states UE stock mispriced based on FFO multiple, implied cap rate, and land value relative to growth.

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