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AI brief of an SEC Form 8-K · Urban Edge Properties (UE)

Urban Edge Raises 2024 FFO as Adjusted Outlook as Q1 FFO as Adjusted Rises to $0.33 Per Share

Positive Impact 4 of 5 earnings Written later

Urban Edge Properties reported first-quarter 2024 net income attributable to common shareholders of $2.6 million, or $0.02 per diluted share, compared with a net loss of $19.1 million a year earlier. FFO as Adjusted was $0.33 per diluted share, up from $0.32, and the company raised its full-year 2024 FFO as Adjusted guidance by $0.03 per share at the midpoint to $1.27 to $1.32 per diluted share. For shareholders, the higher guidance points to improved expected core operating earnings for 2024.

Key points

  • Q1 2024 net income attributable to common shareholders was $2.6 million, or $0.02 per diluted share, versus a net loss of $19.1 million in Q1 2023.
  • Q1 2024 FFO as Adjusted was $0.33 per diluted share, up from $0.32 in Q1 2023; same-property NOI growth was 2.2%.
  • 2024 FFO as Adjusted guidance was raised to $1.27 to $1.32 per diluted share from $1.24 to $1.29.
  • The company acquired Ledgewood Commons for $83 million on April 5, 2024, and Heritage Square for $34 million on February 8, 2024.

The filing

CompanyUrban Edge Properties (UE)
Form8-K, current report
Filed with the SECMay 7, 2024, 6:59 AM ET
Accession number0001611547-24-000028

Items reported: 2.02 Results of Operations7.01 Regulation FD Disclosure

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on May 07, 2024.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.