secwatch.observer — SEC 8-K summary
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Issuer:     Urban Edge Properties (UE)
CIK:        0001611547
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001611547-23-000029
Event type: earnings
Sentiment:  neutral
Materiality: 0.60
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban Edge Properties reports Q1 2023 net loss $19.1M on $34.1M impairment; FFO rises to $0.32/share
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- Net loss $(0.16)/share vs income $0.08 in Q1 2022; impairment charge of $34.1M on Kingswood Center.
- FFO per share $0.32, up from $0.28 YoY; FFO as Adjusted also $0.32.
- Same-property NOI (incl. redevelopment) up 6.3%; leased occupancy 95.3%, +240 bps YoY.
- Refinanced Bergen Town Center with $290M 7-year fixed-rate loan; debt maturities through 2025 now $235M.
- Signed pipeline grows to $31M future annual rent (13% of NOI); full-year guidance raised $0.02 midpoint to $1.14-$1.18 FFO as Adjusted.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611547/000161154723000029/0001611547-23-000029-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611547/000161154723000029/ue-20230509.htm
  HTML page:      https://secwatch.observer/filing/0001611547-23-000029

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