Overview

* Urban Edge Q3 net income rises to $14.9 mln, driven by new leases and acquisitions

* Company raises 2025 FFO as Adjusted guidance by $0.01 per share at mid-point

* Urban Edge acquires Brighton Mills Shopping Center for $39 mln, expanding Boston footprint

Outlook

* Urban Edge raises 2025 FFO as Adjusted guidance mid-point by $0.01 per share

* Company estimates 2025 net income of $0.73 to $0.75 per diluted share

* Urban Edge sees 2025 FFO of $1.43 to $1.45 per diluted share

Result Drivers

* LEASING TRANSACTIONS - Over 340,000 sf of leasing transactions executed, generating a 21% cash spread

* ACQUISITION IMPACT - $39 mln acquisition of Brighton Mills Shopping Center expands Boston footprint

* NON-CASH REVENUE - Higher non-cash revenue from write-off of below-market lease intangibles related to tenant bankruptcies

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 $119.20

Rental mln

Revenue

Q3 EPS $0.12

Q3 Net $14.93

Income mln

Q3 $0.36

Adjusted

FFO Per

Share

Q3 FFO $0.40

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the commercial reits peer group is "buy"

* Wall Street's median 12-month price target for Urban Edge Properties ( UE ) is $23.00, about 11.8% above its October 28 closing price of $20.29

* The stock recently traded at 51 times the next 12-month earnings vs. a P/E of 61 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)