secwatch.observer — SEC 8-K summary
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Issuer:     Urban Edge Properties (UE)
CIK:        0001611547
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001611547-24-000028
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban Edge Properties Q1 FFO as Adj $0.33/share; raises full-year guidance to $1.30 midpoint
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- Net income $2.6M ($0.02/diluted); FFO as Adj $0.33 vs $0.32 YoY.
- Same-property NOI growth 2.2% (3.7% incl. redevelopment); retail shop occupancy up 340bps to 88.4%.
- Acquired Heritage Square ($34M, 7.8% cap) and Ledgewood Commons ($83M, 7.9% cap) in NJ; funded via mortgage debt, asset sales.
- Raised 2024 FFO as Adj guidance to $1.27-$1.32/share (midpoint $1.30); cites strong Q1 and accretive acquisitions.
- Total liquidity $712M; net debt to market cap 41%; weighted average debt maturity 5 years.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611547/000161154724000028/0001611547-24-000028-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611547/000161154724000028/ue-20240507.htm
  HTML page:      https://secwatch.observer/filing/0001611547-24-000028

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer