v3.25.1
EARNINGS PER SHARE AND UNIT (Tables)
 3 Months Ended
Mar. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Computation of Basic and Diluted Earnings per Share and Unit
The following table sets forth the computation of our basic and diluted EPS:
Three Months Ended March 31,
(Amounts in thousands, except per share amounts)20252024
Numerator:
Net income attributable to common shareholders$8,198 $2,603 
Less: earnings allocated to unvested participating securities(6)(2)
Net income available for common shareholders - basic$8,192 $2,601 
Impact of assumed conversions:
OP and LTIP Units— 91 
Net income available for common shareholders - dilutive$8,192 $2,692 
Denominator:
Weighted average common shares outstanding - basic125,513 118,072 
Effect of dilutive securities(1):
Restricted share awards90 106 
Assumed conversion of OP and LTIP Units— 4,636 
Weighted average common shares outstanding - diluted125,603 122,814 
Earnings per share available to common shareholders:
Earnings per common share - Basic$0.07 $0.02 
Earnings per common share - Diluted$0.07 $0.02 
(1) For the three months ended March 31, 2025, the effect of the redemption of certain OP and LTIP Units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for these periods.
Operating Partnership Earnings per Unit
The following table sets forth the computation of basic and diluted earnings per unit:
Three Months Ended March 31,
(Amounts in thousands, except per unit amounts)20252024
Numerator:
Net income attributable to unitholders$8,630 $2,721 
Less: net income attributable to participating securities(348)(2)
Net income available for unitholders$8,282 $2,719 
Denominator:
Weighted average units outstanding - basic130,119 122,646 
Effect of dilutive securities issued by Urban Edge90 106 
Unvested LTIP Units(1)
— 62 
Weighted average units outstanding - diluted130,209 122,814 
Earnings per unit available to unitholders:
Earnings per unit - Basic$0.06 $0.02 
Earnings per unit - Diluted$0.06 $0.02 
(1) For the three months ended March 31, 2025, the effect of the redemption of certain OP and LTIP Units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPU. Accordingly, the impact of such redemption has not been included in the determination of diluted EPU for these periods.