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Jun 30, 2025
Urban Edge Q2 2025 Earnings Report
Urban Edge Properties reported strong operating performance in Q2 2025, with record FFO as Adjusted and significant same-property NOI growth, leading to an increased full-year guidance.
Key Takeaways
Urban Edge Properties delivered a strong second quarter in 2025, achieving a record FFO as Adjusted of $0.36 per share and a significant 7.4% growth in same-property NOI including redevelopment. The company continued its capital recycling program with $41 million in non-core property sales during the quarter, contributing to $66 million in year-to-date asset sales. Based on these robust results, the full-year guidance for FFO as Adjusted has been raised.
FFO as Adjusted reached a quarterly record of $0.36 per share.
Same-property NOI growth, including redevelopment, increased by over 7% for the quarter.
Shop leased occupancy climbed to a new record level of 92.5%.
The company completed $41 million in non-core property sales during the quarter, contributing to $66 million in year-to-date asset sales.
Revenue by Segment
Forward Guidance
Urban Edge Properties has raised its full-year 2025 guidance for Net Income, FFO, and FFO as Adjusted, reflecting strong year-to-date results and positive expectations for the remainder of the year.
Positive Outlook
- Raised full-year guidance for FFO as Adjusted by $0.025 per share at the midpoint to a new range of $1.40 to $1.44 per share.
- Increased same-property NOI growth, including properties in redevelopment, to 4.25% to 5.0% from the previous assumption of 3.0% to 4.0%.
- Anticipated dispositions of $66 million, reflecting completed activity year-to-date.
- Reduced recurring G&A expenses ranging from $34.5 million to $35.5 million, a decrease from the previous assumption.
- Expected interest and debt expense ranging from $78.5 million to $80.5 million.
Challenges Ahead
- Guidance excludes items that impact FFO comparability, such as gains/losses on extinguishment of debt, transaction, severance, litigation, and other one-time items.
- Projections are based on management’s current beliefs and assumptions, subject to known and unknown risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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