What guidance did Urban Edge's management provide for the next earnings period?

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What were the key takeaways from Urban Edge's earnings call?

What is the revenue and EPS growth rate for Urban Edge year over year?

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- **4% FFO growth**: Year-to-date FFO up 7%, driven by 4.7% same-property NOI. 
- **$600M+ capital recycling**: Acquired high-quality assets at 5-7% cap rate premium to disposed assets. 
- **61% new lease spreads**: HomeGoods/Ross driving record tenant demand. 
- **3%+ NOI growth**: Land plays like Brighton Mills targeting 3%+ annual growth. 
- **5.25% same-property guidance**: Up from 4.6% prior midpoint.

**【CEO Summary Section】**
- Delivered 4% FFO growth, with year-to-date growth of 7%, driven by 4.7% same-property NOI increase. 
- Acquired Brighton Mills for $39M, targeting 3%+ NOI growth through contractual rent increases and land value appreciation. 
- Raised 2025 FFO guidance to $1.42-$1.44, up $0.01 at midpoint, reflecting capital recycling strategy of $600M+ in high-quality acquisitions. 

**【COO Commentary】**
- Leasing spreads: 61% on new leases, 9% on renewals, with 96.6% overall occupancy. 
- Development pipeline: $149M active projects with 15% yield, $5.6M new rent commencements (e.g., Starbucks, Tesla Service Center). 
- Tenant demand: National retailers like HomeGoods/Ross driving expansion, but supply-constrained market enables strong rent spreads. 

**【CFO Financial Commentary】**
- FFO as adjusted: $0.36/Q3, 5.25% same-property NOI guidance (up from 4.6%). 
- Debt management: $123.6M mortgage at 5.1%, reducing cost of capital. 
- Liquidity: $900M+ cash & no debt draw, supporting $600M+ capital recycling. 

**【Q&A Highlights】**
- Competitive acquisition environment with 12+ bidders for prime assets. 
- Tenant expansion: Ross/HomeGoods paying premium for Northeast locations. 
- Growth drivers: 3%+ NOI from land plays, 40%+ shop leasing spreads. 
- Risk management: 5.6x net debt/EBITDA, disciplined cap rate discipline (5-7% cap rate differential).

Urban Edge Properties (UE) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

UE

UE fundamentals

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