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Urban Edge Properties (UE) investor relations material

Urban Edge Properties Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary30 Jul, 2025

Executive summary

  • FFO as adjusted reached a record $0.36 per share for Q2 2025, up 13% year-over-year, and $0.71 per share for the first half, with same-property NOI including redevelopment up 7.4% for the quarter and 5.6% year-to-date, driven by strong leasing and high occupancy rates.

  • Net income for Q2 2025 was $60.8M, up from $32.0M in Q2 2024, primarily due to higher rental revenue and a $49.5M gain on property sales.

  • Portfolio comprised 68 shopping centers, two outlet centers, and two malls totaling 17.1 million sq. ft. with consolidated occupancy at 96.5% and SHOP occupancy at a record 92.5%.

  • Asset sales year-to-date totaled $66M at a 4.9% cap rate, including the sale of Bergen Town Center East and two other properties, with proceeds recycled into higher-growth opportunities.

  • Portfolio strategy focuses on densely populated, supply-constrained markets, a strong signed-not-open pipeline, a $142M redevelopment pipeline, capital recycling, and a resilient balance sheet.

Financial highlights

  • Total revenue for Q2 2025 was $114.1M, up from $106.55M in Q2 2024, mainly due to rent commencements and contractual increases.

  • FFO as adjusted per diluted share was $0.36 for Q2 2025, up from $0.32 in Q2 2024; FFO per diluted share was $0.34, down from $0.47 in Q2 2024 due to a prior-year gain on debt extinguishment.

  • Adjusted EBITDAre for Q2 2025 was $67.6M, up from $61.4M in Q2 2024.

  • Net income for the six months ended June 30, 2025 was $69.2M, compared to $34.5M for the same period in 2024.

  • Gain on sale of real estate in Q2 2025 was $49.5M, primarily from the sale of two non-core properties and a parcel.

Outlook and guidance

  • 2025 FFO as adjusted guidance raised to $1.40–$1.44 per share, reflecting 5% growth over 2024 at the midpoint.

  • Full-year 2025 net income guidance is $0.70–$0.74 per diluted share; FFO guidance is $1.37–$1.41 per diluted share.

  • Projected same-property NOI growth, including redevelopment, is 4.25–5% for 2025.

  • Recurring G&A forecast for 2025 lowered by $500,000 to a midpoint of $35M, a 3% reduction from 2024.

  • Guidance excludes one-time items such as gains/losses on debt extinguishment and other non-recurring expenses.

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Frequently asked questions

Urban Edge Properties is a real estate investment trust that owns and manages retail real estate assets, primarily open-air shopping centers. The company’s properties are located in densely populated urban markets in the United States. It focuses on leasing, redevelopment, and value-add initiatives. The company is headquartered in New York, New York, and its shares are listed on the NYSE.

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