v3.25.1
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
REVENUE    
Total revenue $ 118,165 $ 109,626
EXPENSES    
Depreciation and amortization 37,195 38,574
Real estate taxes 16,358 17,003
Property operating 22,732 20,506
General and administrative 9,531 9,046
Lease expense 3,371 3,128
Other expense 1,327 0
Total expenses 90,514 88,257
Gain on sale of real estate 0 1,902
Interest income 607 688
Interest and debt expense (19,755) (20,577)
Gain (loss) on extinguishment of debt 498 (272)
Income before income taxes 9,001 3,110
Income tax expense (619) (665)
Net income 8,382 2,445
Less net (income) loss attributable to NCI in:    
Operating partnership (432) (118)
Consolidated subsidiaries 248 276
Net income (loss) attributable to common shareholders $ 8,198 $ 2,603
Earnings (loss) per common share - Basic (in dollars per share) $ 0.07 $ 0.02
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.07 $ 0.02
Weighted average shares outstanding - Basic (in shares) 125,513 118,072
Weighted average shares outstanding - Diluted (in shares) 125,603 122,814
Net income $ 8,382 $ 2,445
Effective portion of change in fair value of derivatives (188) 293
Comprehensive income 8,194 2,738
Less comprehensive income (loss) attributable to NCI in Operating partnership 9 (14)
Less net (income) loss attributable to NCI in Operating partnership (432) (118)
Less net (income) loss attributable to NCI in Consolidated subsidiaries 248 276
Comprehensive income attributable to common shareholders 8,019 2,882
Rental Revenue    
REVENUE    
Revenues 118,092 109,547
Other income    
REVENUE    
Revenues 73 79
Urban Edge Properties LP    
REVENUE    
Total revenue 118,165 109,626
EXPENSES    
Depreciation and amortization 37,195 38,574
Real estate taxes 16,358 17,003
Property operating 22,732 20,506
General and administrative 9,531 9,046
Lease expense 3,371 3,128
Other expense 1,327 0
Total expenses 90,514 88,257
Gain on sale of real estate 0 1,902
Interest income 607 688
Interest and debt expense (19,755) (20,577)
Gain (loss) on extinguishment of debt 498 (272)
Income before income taxes 9,001 3,110
Income tax expense (619) (665)
Net income 8,382 2,445
Less net (income) loss attributable to NCI in:    
Consolidated subsidiaries 248 276
Net income (loss) attributable to common shareholders $ 8,630 $ 2,721
Earnings (loss) per common share - Basic (in dollars per share) $ 0.06 $ 0.02
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.06 $ 0.02
Weighted average shares outstanding - Basic (in shares) 130,119 122,646
Weighted average shares outstanding - Diluted (in shares) 130,209 122,814
Net income $ 8,382 $ 2,445
Effective portion of change in fair value of derivatives (188) 293
Comprehensive income 8,194 2,738
Less net (income) loss attributable to NCI in Consolidated subsidiaries 248 276
Comprehensive income attributable to common shareholders 8,442 3,014
Urban Edge Properties LP | Rental Revenue    
REVENUE    
Revenues 118,092 109,547
Urban Edge Properties LP | Other income    
REVENUE    
Revenues $ 73 $ 79