Urban Edge Properties Earnings Call Transcripts
Fiscal Year 2026
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The meeting covered trustee elections, auditor ratification, and executive compensation proposals. Shareholders participated via secure web portal, with no questions raised. Voting results will be released soon.
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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.
Fiscal Year 2025
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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%.
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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.
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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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FFO as adjusted rose 6% to $0.35 per share, with record shop occupancy and robust leasing spreads. 2025 guidance is reiterated, with a conservative outlook due to economic volatility, and $66 million in property dispositions planned for reinvestment.
Fiscal Year 2024
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FFO as adjusted grew 8% year-over-year, driven by record leasing, strong rent spreads, and disciplined capital recycling. 2025 guidance targets further FFO and NOI growth, with a 12% dividend increase and continued focus on redevelopment and portfolio optimization.
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FFO per share grew 9% year-over-year in Q3, driven by strong leasing, redevelopment, and capital recycling. 2024 FFO guidance was raised, with robust occupancy and NOI growth, while capital allocation focuses on recycling single-tenant assets into higher-growth centers.
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Q2 2024 saw 7% earnings growth, record leasing, and raised FFO guidance, with strong NOI and shop occupancy gains. Acquisitions and redevelopment drive future growth, while balance sheet metrics and capital recycling remain robust.