v3.25.4
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
REVENUE      
Revenues $ 471,935 $ 444,966 $ 416,922
EXPENSES      
Depreciation and amortization 139,166 150,389 108,979
Real estate taxes 66,428 68,651 64,889
Property operating 86,435 78,776 68,563
General and administrative 39,975 37,474 37,070
Real estate impairment loss 0 0 34,055
Lease expense 13,168 13,169 12,634
Other expense 349 0 0
Total expenses 345,521 348,459 326,190
Gain on sale of real estate 49,695 38,818 217,708
Interest income 2,768 2,667 3,037
Interest and debt expense (78,232) (81,587) (74,945)
Gain (loss) on extinguishment of debt (534) 21,423 41,144
Income before income taxes 100,111 77,828 277,676
Income tax expense (2,601) (2,386) (17,800)
Net income 97,510 75,442 259,876
Less net income attributable to noncontrolling interests in:      
Operating partnership (4,992) (3,978) (11,899)
Consolidated subsidiaries 1,017 1,099 520
Net income (loss) attributable to common shareholders $ 93,535 $ 72,563 $ 248,497
Earnings per common share - Basic (in dollars per share) $ 0.74 $ 0.60 $ 2.11
Earnings per common share - Diluted (in dollars per share) $ 0.74 $ 0.60 $ 2.11
Weighted average shares outstanding - Basic (in shares) 125,686 121,324 117,506
Weighted average shares outstanding - Diluted (in shares) 125,907 121,432 117,597
Net income $ 97,510 $ 75,442 $ 259,876
Effective portion of change in fair value of derivatives (928) (301) (179)
Comprehensive income 96,582 75,141 259,697
Less: comprehensive loss attributable to NCI in:      
Operating partnership 48 18 10
Less: net (income) loss attributable to NCI in:      
Operating partnership (4,992) (3,978) (11,899)
Consolidated subsidiaries 1,017 1,099 520
Comprehensive income attributable to common shareholders 92,655 72,280 248,328
Rental revenue      
REVENUE      
Revenues from contract with customer 470,689 444,465 406,112
Other income      
REVENUE      
Revenues from contract with customer 1,246 501 10,810
Urban Edge Properties LP      
REVENUE      
Revenues 471,935 444,966 416,922
EXPENSES      
Depreciation and amortization 139,166 150,389 108,979
Real estate taxes 66,428 68,651 64,889
Property operating 86,435 78,776 68,563
General and administrative 39,975 37,474 37,070
Real estate impairment loss 0 0 34,055
Lease expense 13,168 13,169 12,634
Other expense 349 0 0
Total expenses 345,521 348,459 326,190
Gain on sale of real estate 49,695 38,818 217,708
Interest income 2,768 2,667 3,037
Interest and debt expense (78,232) (81,587) (74,945)
Gain (loss) on extinguishment of debt (534) 21,423 41,144
Income before income taxes 100,111 77,828 277,676
Income tax expense (2,601) (2,386) (17,800)
Net income 97,510 75,442 259,876
Less net income attributable to noncontrolling interests in:      
Consolidated subsidiaries 1,017 1,099 520
Net income (loss) attributable to common shareholders $ 98,527 $ 76,541 $ 260,396
Earnings per common share - Basic (in dollars per share) $ 0.75 $ 0.60 $ 2.13
Earnings per common share - Diluted (in dollars per share) $ 0.74 $ 0.60 $ 2.13
Weighted average shares outstanding - Basic (in shares) 130,446 125,987 121,901
Weighted average shares outstanding - Diluted (in shares) 130,667 126,095 121,992
Net income $ 97,510 $ 75,442 $ 259,876
Effective portion of change in fair value of derivatives (928) (301) (179)
Comprehensive income 96,582 75,141 259,697
Less: net (income) loss attributable to NCI in:      
Consolidated subsidiaries 1,017 1,099 520
Comprehensive income attributable to common shareholders 97,599 76,240 260,217
Urban Edge Properties LP | Rental revenue      
REVENUE      
Revenues from contract with customer 470,689 444,465 406,112
Urban Edge Properties LP | Other income      
REVENUE      
Revenues from contract with customer $ 1,246 $ 501 $ 10,810