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Mar 31, 2022
Urban Edge Q1 2022 Earnings Report
Reported first quarter results and declared a quarterly common dividend of $0.16 per share.
Key Takeaways
Urban Edge Properties announced positive first quarter results, with a focus on improving retail real estate and increasing occupancy. The company is focused on achieving 96% occupancy and monetizing non-income producing land.
Net income attributable to common shareholders was $9.5 million, or $0.08 per diluted share.
FFO applicable to diluted common shareholders was $34.2 million, or $0.28 per share.
Same-property NOI, excluding properties in redevelopment, increased by 5.5%.
Executed 33 new leases, renewals and options totaling 308,000 sf during the quarter.
Urban Edge
Urban Edge
Forward Guidance
Company did not provide specific forward guidance in the release. The company remains focused on increasing occupancy to at least 96% and monetizing non-income producing land.