Urban Edge Properties (UE) Q3 2026 earnings summary

Executive summary

• Q3 FFO as Adjusted was $0.38 per diluted share, up 6% YoY; same-property NOI grew 4.5%, or 4.6% including redevelopment.

• Raised 2026 FFO as Adjusted guidance midpoint by $0.01 per share to $1.52–$1.54; same-property NOI growth guidance, including redevelopment, increased to 4.00%–4.25%.

• Acquired Regency Court for $90.3M, entering Florida; portfolio investment also included acquisitions, capital recycling and active redevelopment.

Financial highlights

• Q3 revenue was $119.6M versus $120.1M YoY; nine-month revenue rose to $375.0M from $352.4M.

• Q3 net income was $53.8M versus $15.5M, including a $36.0M real-estate sale gain; diluted EPS was $0.41 versus $0.12.

• Q3 FFO as Adjusted was $50.5M, or $0.38 per diluted share, versus $47.5M, or $0.36; nine-month FFO as Adjusted was $150.3M, or $1.14 per share.

• Nine-month operating cash flow increased to $171.1M from $131.7M; Q3 property operating expenses rose $1.2M to $20.6M, mainly from insurance, utilities and maintenance.

Outlook and guidance

• 2026 guidance: FFO as Adjusted of $1.52–$1.54 per diluted share; net income of $0.86–$0.88 and FFO of $1.59–$1.61 per diluted share.

• Full-year same-property NOI growth guidance, including redevelopment, rose to 4.00%–4.25% from 3.25%–3.75%; Q4 adjusted FFO is expected at $0.39 per share.

• Signed leases awaiting rent commencement represent $21.0M of annual gross rent, ~7% of annualized NOI; $0.7M is expected in Q4 2026 and nearly $13M in 2027.

• Guidance assumes $185M of acquisitions and $60.5M of dispositions; FFO guidance excludes specified non-routine comparability items.