secwatch.observer — SEC 8-K summary
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Issuer:     Urban Edge Properties (UE)
CIK:        0001611547
Form:       8-K
Filed at:   2024-06-03T23:59:59+00:00
Accession:  0001611547-24-000033
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Urban Edge raises 2024 FFO guidance; Q1 results show strong leasing and acquisition activity
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- 1Q24 FFO as Adjusted $0.33/sh (+4.4% YoY); 2024 guidance raised $0.03 to $1.30/sh midpoint.
- Same-property NOI +3.7% YoY; leased occupancy 96.2% (+140 bps YoY).
- 44 leases for 805K sf at 10% same-space cash rent spread; $27M future gross rent from signed leases.
- Acquired 4 properties for $426M at 7.2% cap rate; disposed $356M at 5.2% cap rate since Oct 2023.
- Expect 2025 FFO at high end of $1.31-$1.39 range, implying 5-6% growth.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1611547/000161154724000033/0001611547-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1611547/000161154724000033/ue-20240603.htm
  HTML page:      https://secwatch.observer/filing/0001611547-24-000033

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