Urban Edge Properties (UE)

Urban Edge Properties Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Rental Revenue	434.42	406.11	396.38	422.47	328.28	384.41
Property Management Fees	-	-	-	-	-	1.9
Other Revenue	0.76	0.81	1.56	2.62	1.82	1.34
Total Revenue	435.18	406.92	397.94	425.08	330.1	387.65
Revenue Growth (YoY	8.27%	2.26%	-6.39%	28.78%	-14.85%	-6.40%
Property Expenses	157.89	146.09	148.66	145.25	129.84	138.71
Selling, General & Administrative	37	37.07	43.09	39.15	48.68	38.22
Depreciation & Amortization	144.37	108.98	98.43	92.33	96.03	94.12
Total Operating Expenses	339.25	292.14	290.18	276.73	274.55	271.04
Operating Income	95.93	114.79	107.76	148.35	55.54	116.61
Interest Expense	-84.52	-74.95	-58.98	-57.94	-71.02	-66.64
Interest & Investment Income	3.43	3.04	1.11	0.36	2.6	9.77
EBT Excluding Unusual Items	14.84	42.88	49.89	90.77	-12.87	59.74
Gain (Loss) on Sale of Assets	232.7	217.71	0.35	18.65	39.78	70.48
Asset Writedown	-	-34.06	-	-0.47	-3.06	-12.74
Total Legal Settlements	10	10	-	-	-	-
Other Unusual Items	20.03	41.14	-	-	34.91	-
Pretax Income	277.57	277.68	50.24	108.95	58.75	117.48
Income Tax Expense	1.71	17.8	2.9	1.14	-39	1.29
Earnings From Continuing Operations	275.86	259.88	47.34	107.82	97.75	116.2
Minority Interest in Earnings	-12.18	-11.38	-1.17	-5.13	-4.16	-6.67
Net Income	263.68	248.5	46.17	102.69	93.59	109.52
Preferred Dividends & Other Adjustments	0.21	0.2	0.02	0.05	0.06	0.09
Net Income to Common	263.46	248.3	46.15	102.64	93.53	109.43
Net Income Growth	544.10%	438.22%	-55.04%	9.72%	-14.55%	4.16%
Basic Shares Outstanding	119	118	117	117	118	120
Diluted Shares Outstanding	120	118	122	121	118	120
Shares Change (YoY)	0.66%	-3.32%	0.16%	3.01%	-1.66%	5.12%
EPS (Basic)	2.21	2.11	0.39	0.88	0.79	0.91
EPS (Diluted)	2.20	2.11	0.39	0.88	0.79	0.91
EPS Growth	533.18%	437.80%	-55.13%	10.26%	-13.02%	-0.79%
Dividend Per Share	0.670	0.640	0.640	0.600	0.220	0.880
Dividend Growth	4.69%	0%	6.67%	172.73%	-75.00%	0%
Operating Margin	22.04%	28.21%	27.08%	34.90%	16.83%	30.08%
Profit Margin	60.54%	61.02%	11.60%	24.15%	28.33%	28.23%
Free Cash Flow Margin	36.97%	40.06%	35.09%	31.82%	34.18%	40.35%
EBITDA	233.46	215.95	201.89	187.31	142.67	197.31
EBITDA Margin	53.65%	53.07%	50.73%	44.07%	43.22%	50.90%
D&A For Ebitda	137.53	101.17	94.13	38.96	87.13	80.7
EBIT	95.93	114.79	107.76	148.35	55.54	116.61
EBIT Margin	22.04%	28.21%	27.08%	34.90%	16.83%	30.08%
Funds From Operations (FFO)	187.06	184.44	145.17	-	-	-
Adjusted Funds From Operations (AFFO)	-	184.44	145.17	-	-	-
FFO Payout Ratio	42.99%	40.77%	51.73%	-	-	-
Effective Tax Rate	0.62%	6.41%	5.78%	1.05%	-	1.10%
Revenue as Reported	445.18	416.92	397.94	425.08	330.1	387.65

Source: S&P Capital IQ. Real Estate template. Financial Sources.