📈 Price History

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About

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 75 properties totaling 16.2 million square feet of gross leasable area. Urban Edge Properties was established in 2014 and was incorporated in Maryland.

Key Ratios Snapshot

📈 Growth Pattern

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	478.0K	$9.6M	0.01%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific → Stable 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly used strong positive language such as 'great second quarter results', 'demand remains strong', and 'record high' shop occupancy. They provided specific figures like 12% FFO growth and 7.4% same property NOI growth, and confidently described their strategy as anchored by five key strengths.

Q3 2025

Confident Specific

The CEO opened with 'Another strong quarter' with specific FFO as adjusted growth of 4% and same property NOI growth of 4.7%. The CFO raised full-year guidance by a penny and cited 5.6x leverage. The COO gave specific leasing spreads of 61% on new leases and a 5.4% cap rate on acquired assets. All cited specific numbers to support their confidence.

Q4 2025

Confident Specific

Management repeatedly used precise figures (e.g., 32% new lease spreads, 92.6% shop occupancy, 6% FFO growth) and explicitly stated forward guidance with ranges (e.g., Q4 2026 FFO $1.47-$1.52, same-property NOI 2.75%-3.75%). The CEO said 'we are well-positioned' and highlighted 'sector-leading performance'.

Q1 2026 latest

Confident Specific

Management repeatedly used phrases like 'great first quarter', 'exceeded our internal expectations', 'strong leasing fundamentals', and 'robust pipeline'. They quantified achievements: FFO as adjusted up 3%, same-property NOI up 2.8%, 52% cash spread on new leases, and raised guidance by $0.01 per share on the low end.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis is strengthened by this call. Management delivered FFO growth above internal expectations, raised full-year guidance, and reported strong leasing spreads and a robust SNO pipeline that provides multi-year visibility. The strategic acquisition at an attractive 7.7% cap rate and accretive refinancing demonstrate disciplined capital allocation. Key watch items for next quarter: occupancy trajectory toward the 97%-98% target, resolution of the isolated bad debt issue, and execution on the Kohl's disposition and remaining SNO commencements. Overall, the fundamentals appear solid and the outlook remains positive.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific → Stable 4 quarters Full tone analysis in Intelligence →

📊 MIXED FFO per share $0.36, SNO pipeline $22M, same-property NOI growth 2.8%.

Revenue & Profitability

FFO as adjusted was $0.36 per share, a 3% increase year-over-year. Same-property NOI including redevelopment grew 2.8%. NAREIT FFO included an $8 million gain from New Jersey environmental remediation. Full-year 2026 FFO as adjusted guidance raised to $1.48-$1.52 per share, reflecting 5% growth at the midpoint. The company secured a $62.5 million mortgage at 5%.

Outlook

Management describes the anchor leasing market as the strongest in years due to a supply-demand imbalance, with retailers proactively seeking space. Portfolio occupancy is expected to reach 97-98% by year-end. Same-property NOI growth guidance was raised to 3%-3.75% for 2026. The New England and New Jersey markets are particularly strong, with above-inflation rent growth expected for larger boxes.

Growth Drivers

Key growth levers include the $22 million SNO pipeline (to deliver $3.3 million in gross rents in the remainder of 2026), the $157 million redevelopment pipeline, and accretive acquisitions like The Village at Bridgewater Commons (7.7% cap rate). Recapturing under-leased spaces, such as the Kohl's box in Framingham, is expected to drive significant rent spreads. Puerto Rico portfolio is growing at 3.5-4% annually with national tenant additions.

Balance Sheet & CapEx

Not discussed in detail in this earnings call. The company has an active redevelopment pipeline of $157 million with expected yields of 13%. A $62.5 million mortgage was obtained for The Plaza at Woodbridge at a swap fixed rate of 5%.

Margins

Margin trajectory was not explicitly discussed. Stabilized redevelopment projects are generating near 50% yields, reflecting lower landlord contributions. Bad debt is expected to normalize to 75 basis points of gross rents for the remainder of the year. First-quarter property operating expenses were elevated due to higher snow costs, which should moderate in subsequent quarters.

Key Risks

Risks flagged include isolated bad debt from a Puerto Rico QSR operator (now resolved with a payment plan) and elevated snow costs in the first quarter. Management does not see systemic retail distress and expects uncollected rents to trend near 75 basis points going forward. The company's portfolio remains concentrated in the Northeast, but no specific market risks were highlighted.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Record FFO as adjusted rose 10% year-over-year, with strong leasing demand and NOI growth. Guidance was raised for both FFO and NOI, supported by a robust development pipeline and active capital recycling. Cap rates remain compressed amid high acquisition competition.

Q1 2026 Q1 2026 2026-04-29

Q1 2026 saw FFO as adjusted rise 3% year-over-year, driven by strong leasing and NOI growth. Guidance for 2026 was raised, with robust pipelines and a major acquisition at a 7.7% cap rate. Market conditions remain favorable, supporting above-inflation rent growth.

Q4 2025 Q4 2025 2026-02-11

FFO as adjusted grew 6% to $1.43 per share in 2025, driven by record leasing spreads and robust redevelopment yields. 2026 guidance targets 4.5% FFO growth, with NOI growth building in the second half and a dividend increase of 11%.

Q3 2025 Q3 2025 2025-10-29

FFO as adjusted grew 4% year-over-year in Q3, with same property NOI up 4.7%. Guidance for 2025 FFO as adjusted was raised, reflecting strong leasing spreads and a robust redevelopment pipeline. Liquidity remains strong, and portfolio quality continues to improve.

Q2 2025 Q2 2025 2025-07-30

FFO as adjusted rose 12% year-over-year, with record shop occupancy and robust leasing spreads. 2025 FFO guidance was raised, CapEx is set to decline, and the balance sheet remains strong, supported by active capital recycling and a healthy retail market.

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