| 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 June 30, | | Six Months Ended June 30, | | (Amounts in thousands, except per share amounts) | 2025 | | 2024 | | 2025 | | 2024 | | Numerator: | | | | | | | | | Net income attributable to common shareholders | $ | 57,978 | | | $ | 30,759 | | | $ | 66,176 | | | $ | 33,362 | | | Less: earnings allocated to unvested participating securities | (36) | | | (29) | | | (42) | | | (31) | | | Net income available for common shareholders - basic | $ | 57,942 | | | $ | 30,730 | | | $ | 66,134 | | | $ | 33,331 | | | Impact of assumed conversions: | | | | | | | | | OP and LTIP Units | 21 | | | 10 | | | 53 | | | — | | | Net income available for common shareholders - dilutive | $ | 57,963 | | | $ | 30,740 | | | $ | 66,187 | | | $ | 33,331 | | | | | | | | | | | Denominator: | | | | | | | | | Weighted average common shares outstanding - basic | 125,688 | | | 118,859 | | | 125,601 | | | 118,466 | | Effect of dilutive securities(1): | | | | | | | | | Stock options using the treasury stock method | — | | | — | | | 84 | | | — | | | Restricted share awards | 78 | | | 112 | | | 95 | | | 109 | | | | | | | | | | | Weighted average common shares outstanding - diluted | 125,766 | | | 118,971 | | | 125,780 | | | 118,575 | | | | | | | | | | | Earnings per share available to common shareholders: | | | | | | | | | Earnings per common share - Basic | $ | 0.46 | | | $ | 0.26 | | | $ | 0.53 | | | $ | 0.28 | | | Earnings per common share - Diluted | $ | 0.46 | | | $ | 0.26 | | | $ | 0.53 | | | $ | 0.28 | |
(1) For the three and six months ended June 30, 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 June 30, | | Six Months Ended June 30, | | (Amounts in thousands, except per unit amounts) | 2025 | | 2024 | | 2025 | | 2024 | | Numerator: | | | | | | | | | Net income attributable to unitholders | $ | 61,036 | | | $ | 32,498 | | | $ | 69,666 | | | $ | 35,219 | | | Less: net income attributable to participating securities | (319) | | | (29) | | | (678) | | | (31) | | | Net income available for unitholders | $ | 60,717 | | | $ | 32,469 | | | $ | 68,988 | | | $ | 35,188 | | | | | | | | | | | Denominator: | | | | | | | | | Weighted average units outstanding - basic | 130,474 | | | 123,572 | | | 130,297 | | | 123,109 | | | Effect of dilutive securities issued by Urban Edge | 149 | | | 112 | | | 179 | | | 109 | | Unvested LTIP Units(1) | — | | | 201 | | | — | | | — | | | Weighted average units outstanding - diluted | 130,623 | | | 123,885 | | | 130,476 | | | 123,218 | | | | | | | | | | | Earnings per unit available to unitholders: | | | | | | | | | Earnings per unit - Basic | $ | 0.47 | | | $ | 0.26 | | | $ | 0.53 | | | $ | 0.29 | | | Earnings per unit - Diluted | $ | 0.46 | | | $ | 0.26 | | | $ | 0.53 | | | $ | 0.29 | |
(1) For the three and six months ended June 30, 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.
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