Urban Edge Properties Q2 FFO as adjusted $0.30, raises 2023 guidance to $1.16-$1.19

Urban Edge Properties

2023-Q2 EPS reported -$0.08 revenue$198,506,000

Q2 net income $10.3M ($0.09/diluted); FFO as adjusted $0.30, flat YoY; same-property NOI growth 2.3%.
Same-property leased occupancy 95.5%, up 170 bps YoY; signed pipeline $27.9M future annual gross rent (11% of annualized NOI).
Raised 2023 FFO as adjusted guidance to $1.16-$1.19 per diluted share; on track for $1.35 target by 2025.
Active redevelopment projects $196.5M with 12% expected yield; refinanced Bergen Town Center with $290M 7-year fixed-rate loan.

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 0.9

Urban Edge Properties updated its the three and six months ended June 30, 2023 guidance (raised).

Period: the three and six months ended June 30, 2023
Guidance: raised
Result: reported results

Exact text from the filing

On August 2, 2023, the Company announced its financial results for the three and six months ended June 30, 2023.

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Source: SEC EDGAR

accession 0001611547-23-000038

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