v3.26.3
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Sep. 30, 2026
Sep. 30, 2025
REVENUE        
Total revenue $ 119,556 $ 120,126 $ 374,961 $ 352,375
EXPENSES        
Depreciation and amortization 32,906 36,831 100,254 106,628
Real estate taxes 16,011 16,791 49,488 49,731
Property operating 20,612 19,401 68,867 62,334
General and administrative 8,776 8,976 27,592 30,224
Lease expense 3,171 3,320 9,619 9,981
Other expense 0 349 0 349
Total expenses 81,476 85,668 255,820 259,247
Gain on sale of real estate 36,006 233 36,006 49,695
Interest income 549 824 1,541 2,098
Interest and debt expense (19,962) (19,374) (58,482) (58,666)
(Loss) gain on extinguishment of debt 0 0 (212) 323
Income before income taxes 54,673 16,141 97,994 86,578
Income tax expense (872) (600) (1,999) (1,862)
Net income 53,801 15,541 95,995 84,716
Less net (income) loss attributable to NCI in:        
Operating partnership (2,596) (836) (4,703) (4,326)
Consolidated subsidiaries 235 230 715 721
Net income (loss) attributable to common shareholders $ 51,440 $ 14,935 $ 92,007 $ 81,111
Earnings (loss) per common share - Basic (in dollars per share) $ 0.41 $ 0.12 $ 0.73 $ 0.65
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.41 $ 0.12 $ 0.73 $ 0.64
Weighted average shares outstanding - Basic (in shares) 126,182 125,729 126,044 125,643
Weighted average shares outstanding - Diluted (in shares) 131,532 125,803 131,436 125,869
Net income $ 53,801 $ 15,541 $ 95,995 $ 84,716
Effective portion of change in fair value of derivatives 4,955 (578) 7,956 (964)
Comprehensive income 58,756 14,963 103,951 83,752
Less comprehensive income (loss) attributable to NCI in Operating partnership (261) 30 (423) 49
Less net (income) loss attributable to NCI in Operating partnership (2,596) (836) (4,703) (4,326)
Less net (income) loss attributable to NCI in Consolidated subsidiaries 235 230 715 721
Comprehensive income attributable to common shareholders 56,134 14,387 99,540 80,196
Rental Revenue        
REVENUE        
Revenues 119,249 119,196 366,079 351,200
Other income        
REVENUE        
Revenues 307 930 8,882 1,175
Urban Edge Properties LP        
REVENUE        
Total revenue 119,556 120,126 374,961 352,375
EXPENSES        
Depreciation and amortization 32,906 36,831 100,254 106,628
Real estate taxes 16,011 16,791 49,488 49,731
Property operating 20,612 19,401 68,867 62,334
General and administrative 8,776 8,976 27,592 30,224
Lease expense 3,171 3,320 9,619 9,981
Other expense 0 349 0 349
Total expenses 81,476 85,668 255,820 259,247
Gain on sale of real estate 36,006 233 36,006 49,695
Interest income 549 824 1,541 2,098
Interest and debt expense (19,962) (19,374) (58,482) (58,666)
(Loss) gain on extinguishment of debt 0 0 (212) 323
Income before income taxes 54,673 16,141 97,994 86,578
Income tax expense (872) (600) (1,999) (1,862)
Net income 53,801 15,541 95,995 84,716
Less net (income) loss attributable to NCI in:        
Consolidated subsidiaries 235 230 715 721
Net income (loss) attributable to common shareholders $ 54,036 $ 15,771 $ 96,710 $ 85,437
Earnings (loss) per common share - Basic (in dollars per share) $ 0.41 $ 0.12 $ 0.73 $ 0.65
Earnings (loss) per common share - Diluted (in dollars per share) $ 0.41 $ 0.12 $ 0.73 $ 0.65
Weighted average shares outstanding - Basic (in shares) 131,428 130,591 131,271 130,396
Weighted average shares outstanding - Diluted (in shares) 131,532 130,665 131,436 130,621
Net income $ 53,801 $ 15,541 $ 95,995 $ 84,716
Effective portion of change in fair value of derivatives 4,955 (578) 7,956 (964)
Comprehensive income 58,756 14,963 103,951 83,752
Less net (income) loss attributable to NCI in Consolidated subsidiaries 235 230 715 721
Comprehensive income attributable to common shareholders 58,991 15,193 104,666 84,473
Urban Edge Properties LP | Rental Revenue        
REVENUE        
Revenues 119,249 119,196 366,079 351,200
Urban Edge Properties LP | Other income        
REVENUE        
Revenues $ 307 $ 930 $ 8,882 $ 1,175