Urban Edge Properties UE
Urban Edge Properties ("UE", "Urban Edge" or the "Company") (NYSE: UE) is a Maryland REIT that owns, manages, acquires, develops, and redevelops retail real estate, primarily in the Washington, D.C. to Boston corridor. Urban Edge Properties LP ("UELP" or the "Operating Partnership") is a Delaware limited partnership formed to serve as UE's majority-owned partnership subsidiary and to own, through affiliates, all of our real estate and other assets. Our portfolio is currently comprised of 69 shopping centers, two outlet centers and two malls totaling approximately 17.2 million square feet ("sf") of gross leasable area with a consolidated occupancy rate of 90.1%.
We are a leading owner and operator of retail real estate focused on the Washington, D.C. to Boston corridor. Our goal is to generate industry leading growth while improving the communities we serve.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $471.9M | $445.0M | $416.9M | $397.9M | $425.1M | $330.1M | $387.6M | $414.2M | $407.0M | $326.0M |
| SG&A | $40.0M | $37.5M | $37.1M | $43.1M | $39.2M | $48.7M | $38.2M | $35.0M | $30.7M | $28.8M |
| Total operating expenses | — | — | — | — | — | — | $283.8M | $292.3M | $245.3M | $193.0M |
| Operating income | — | — | — | — | — | — | — | $121.9M | $161.8M | $133.0M |
| Pre-tax income | $100.1M | $77.8M | $277.7M | $50.2M | $109.0M | $58.8M | $117.5M | $120.5M | $72.7M | $97.4M |
| Income tax | $2.6M | $2.4M | $17.8M | $2.9M | $1.1M | $39.0M | $1.3M | $3.5M | $278.0K | $804.0K |
| Net income | $93.5M | $72.6M | $248.5M | $46.2M | $102.7M | $93.6M | $109.5M | $105.2M | $67.1M | $90.8M |
| EPS, basic | 0.74 | 0.60 | 2.11 | 0.39 | 0.88 | 0.79 | 0.91 | 0.92 | 0.62 | 0.91 |
| EPS, diluted | 0.74 | 0.60 | 2.11 | 0.39 | 0.88 | 0.79 | 0.91 | 0.92 | 0.61 | 0.91 |
| Shares, diluted (wtd. avg.) | $125.9M | $121.4M | $117.6M | $121.6M | $121.4M | $117.9M | $119.9M | $114.1M | $118.4M | $99.8M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $48.9M | $41.4M | $101.1M | $85.5M | $164.5M | $384.6M | $433.0M | $440.4M | $490.3M | $131.7M |
| Other intangibles | $87.6M | $109.8M | $113.9M | $62.9M | $71.1M | $56.2M | $48.1M | $68.4M | $87.2M | $30.9M |
| Total assets | $3.31B | $3.31B | $3.28B | $2.98B | $2.99B | $2.94B | $2.85B | $2.80B | $2.82B | $1.90B |
| Long-term debt | — | — | — | $1.69B | $1.69B | $1.59B | $1.55B | $1.55B | $1.56B | $1.20B |
| Total liabilities | $1.94B | $1.95B | $2.06B | $1.95B | $1.94B | $1.94B | $1.83B | $1.79B | $1.83B | $1.41B |
| Retained earnings | $124.6M | $126.7M | $137.1M | -$36.1M | -$7.1M | -$39.5M | -$52.5M | -$52.9M | -$57.6M | -$29.1M |
| Total equity | $1.38B | $1.36B | $1.22B | $1.03B | $1.05B | $995.9M | $1.01B | $1.01B | $990.5M | $496.1M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $182.7M | $153.2M | $163.0M | $139.6M | $135.3M | $112.8M | $156.4M | $137.0M | $157.9M | $137.2M |
| Depreciation and amortisation | $139.5M | $151.0M | $109.8M | $100.8M | $94.1M | $97.8M | $96.6M | $102.9M | $82.5M | $57.2M |
| Stock-based compensation | $11.8M | $10.4M | $7.8M | $10.5M | $10.8M | $17.0M | $13.5M | $9.7M | $7.1M | $5.4M |
| Capital expenditure | $100.9M | $110.6M | $115.7M | $116.0M | $95.4M | $28.5M | $91.3M | $118.8M | — | — |
| Investing cash flow | -$75.6M | -$234.7M | -$117.7M | -$151.9M | -$311.2M | -$98.5M | -$2.5M | -$64.8M | -$295.7M | -$59.2M |
| Financing cash flow | -$118.9M | -$2.1M | $161.0K | -$78.8M | -$23.5M | -$80.2M | -$126.3M | -$115.6M | $498.5M | -$115.9M |
| Dividends paid | $95.5M | $82.9M | $75.2M | $75.1M | $124.0M | $26.6M | $106.2M | $100.2M | $95.4M | $81.2M |
| Buybacks | — | — | — | $0 | $0 | $54.1M | $0 | $0 | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001611547-26-000022.
Others in SIC 6500
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|---|---|---|---|---|
| CBRE | CBRE GROUP, INC. | $42.81B | 38.4x | 13.4% |
| TRNO | Terreno Realty Corp | $7.15B | 16.8x | 24.5% |
| MRP | Millrose Properties, Inc. | $5.32B | 13.1x | — |
| CIGI | Colliers International Group Inc. | $5.03B | 49.0x | 15.3% |
| CWK | Cushman & Wakefield Ltd. | $3.21B | 35.9x | 8.9% |
| CURB | Curbline Properties Corp. | $3.11B | 79.6x | 51.3% |
| GTY | GETTY REALTY CORP /MD/ | $2.01B | 24.1x | 9.0% |
| EFC | Ellington Financial Inc. | $1.74B | 11.3x | — |