Urban Edge Properties Q3 2024 FFO as Adjusted up 9%; raises full-year guidance

Urban Edge Properties

2024-Q3 EPS reported $0.35 revenue$328,599,000

Q3 2024 FFO as Adjusted per diluted share $0.35, up 9% YoY from $0.32; net income $9.08M vs $36.12M due to prior-year debt gain.
Same-property NOI grew 4.8% in Q3; retail shop leased occupancy up 500 bps to 90.4%.
Acquired The Village at Waugh Chapel for $126M (6.6% cap); sold Home Depot Union for $71M (5.4% cap) via 1031 exchange.
Updated 2024 FFO as Adjusted guidance to $1.32-$1.35 per share, up $0.03 at midpoint; reaffirms 2025 target high end.

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