Urban Edge Properties: Fourth Quarter Earnings Overview

Urban Edge Properties Announces Fourth Quarter Financial Results

Urban Edge Properties, a real estate investment trust headquartered in New York, released its financial results for the fourth quarter on Wednesday, highlighting a significant profitability metric.

During this period, the company reported funds from operations totaling $46.5 million, which translates to 36 cents per share.

Funds from operations, a key indicator within the REIT sector, is calculated by adding back expenses like depreciation and amortization to net income.

Urban Edge Properties also disclosed a net income of $12.4 million, or 10 cents per share, for the quarter.

The trust, which specializes in owning and operating shopping centers, generated $119.6 million in revenue for the quarter, with adjusted revenue coming in at $119.5 million.

For the full year, the company achieved $187.1 million in funds from operations and reported total revenue of $470.7 million.

Looking ahead, Urban Edge Properties anticipates its funds from operations for the upcoming year to fall between $1.47 and $1.52 per share.