earnings
confidence high
sentiment positive
materiality 0.80
Urban Edge Properties reports FY2024 FFO as Adjusted $1.35, up 8% YoY; raises dividend 12%
Urban Edge Properties
2024-FY EPS reported
$0.60
revenue$444,966,000
- FFO as Adjusted per share $1.35 for FY2024, up 8% from $1.25 in FY2023.
- Board raised quarterly dividend 12% to $0.19 per share ($0.76 annualized), payable Mar 31, 2025.
- Consolidated portfolio leased occupancy 96.8%, up 90 bps YoY; retail shop occupancy 90.9%, up 320 bps.
- Acquired $243M of assets at 7.2% cap, sold $109M at 5.2% cap; key acquisition: Village at Waugh Chapel for $126M.
- FY2025 guidance: FFO as Adjusted $1.37-$1.42; net income $0.32-$0.37 per diluted share.