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Sep 30, 2021
Urban Edge Q3 2021 Earnings Report
Reported strong third quarter results driven by solid execution and occupancy growth.
Key Takeaways
Urban Edge Properties reported a strong third quarter with net income attributable to common shareholders of $27.8 million, or $0.24 per diluted share, and increased same-property NOI by 26.4% compared to the third quarter of 2020. The company's occupancy growth came from both new anchor tenants and record shop leasing activity.
Generated net income attributable to common shareholders of $27.8 million, or $0.24 per diluted share.
Generated Funds from Operations applicable to diluted common shareholders of $45.3 million, or $0.37 per share.
Increased same-property Net Operating Income by 26.4% compared to the third quarter of 2020.
Reported same-property portfolio leased occupancy of 92.8%, an increase of 80 basis points compared to June 30, 2021.