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Interested in Urban Edge Properties? Here are five stocks we like better. Urban Edge raised its 2026 outlook, increasing adjusted FFO guidance to $1.50–$1.54 per share and lifting same-property NOI growth guidance to 3.25%–3.75%, supported by stronger leasing, percentage rents and recoveries. Leasing momentum remained strong, with new leases generating a 13% same-space cash spread and year-to-date spreads near 30%. Shop occupancy declined to 91.7%, but management sees an approximately 20% mark-to-market opportunity as it backfills space. The REIT is recycling capital into higher-growth assets, including a $50.5 million acquisition, while pursuing a $60.5 million property sale. Its $155 million redevelopment pipeline has an expected yield of about 12%, and liquidity stood at approximately $960 million. Cameco Corporation Is the Only Uranium Play to Consider Urban Edge Properties (NYSE:UE) reported second-quarter results that exceeded its internal expectations, driven by higher leasing spreads, same-property net operating income growth and contributions from redevelopment activity. The retail real estate investment trust raised its full-year funds from operations guidance while outlining continued capital recycling and leasing initiatives across its Northeast-focused portfolio. Chairman and Chief Executive Officer Jeff Olson said the company generated record FFO as adjusted of $0.40 per share, up 10% from the second quarter of 2025 and 7% year to date. Same-property NOI, including redevelopment, rose 3.2% in the quarter and 3% through the first half. → No Hangover: Revisiting Microsoft One Week After Earnings Olson said traffic at the company’s centers increased 3% from a year earlier, with particularly noticeable gains at Bergen, Woodbridge, Hudson Mall and Totowa, where Urban Edge has upgraded its tenant mix. He attributed demand to limited availability of quality retail vacancies in its trade areas and the company’s value- and necessity-oriented merchandise mix. Urban Edge raised its 2026 FFO as adjusted guidance by $0.02 per share at the midpoint to a range of $1.50 to $1.54 per share. The updated outlook implies 6% growth over 2025, according to Olson. The company also increased the low end of its same-property NOI growth outlook, including redevelopment, by 25 basis points to a range of 3.25% to 3.75%. → MarketBeat Week in Review – 08/03 - 08/07 Chief Financial Officer Mark Langer said second-quarter NOI growth exceeded the company’s expectations, supported by higher percentage rents, greater net recovery revenue, collections on prior-period reserves and lower real estate taxes. Results also included several items that Langer characterized as one-time benefits. Urban Edge received approximately $0.02 per share of lease termination income from Wren Kitchens, as well as about $0.01 per share from accelerated amortization of non-cash revenue and a multi-year real estate tax refund. Langer said some of the income had already been anticipated in the company’s full-year plan or reflected revenue that otherwise would have been recognized later in the year. → Why the Landlord of the AI Boom Could Outlast the Chipmakers Bad debt was about 40 basis points of gross rents in the quarter, better than expected, aided by collections from accounts reserved in the first quarter. Langer said a multi-location franchise operator in Puerto Rico that had contributed to earlier uncollected rents paid all current second-quarter rent and was current on payment-plan obligations for past-due amounts. For the third and fourth quarters, the company expects credit losses of 60 to 75 basis points of gross rent. Chief Operating Officer Jeff Mooallem said Urban Edge executed 26 leases totaling 199,000 square feet during the quarter, evenly divided between 13 new leases and 13 renewals. New leases produced a same-space cash spread of 13%, while renewals and option exercises generated a 10% cash spread. While the quarterly new-lease spread was lower than the first quarter, Mooallem said results can fluctuate because of the company’s size. Year-to-date new-lease spreads were nearly 30%, and the company expects new-lease cash spreads to exceed 20% for the full year, which would mark its fifth consecutive year at that level. Same-property leased occupancy was 96.3% at quarter-end, down 10 basis points from the prior quarter and 40 basis points from the year-earlier period. The decline largely reflected the bankruptcy of Wren Kitchens, which occupied two company locations. Mooallem said Urban Edge collected a meaningful settlement related to those leases and expects the vacated space to support a stronger merchandising mix at rents above Wren’s previous rates. Shop occupancy declined 70 basis points sequentially to 91.7%. About half of the decline resulted from deliberate recapture opportunities in which the company chose not to retain existing tenants, Mooallem said. Urban Edge expects to backfill shop space at average rents of about $45 per square foot, representing a mark-to-market opportunity of approximately 20%, and aims to restore shop occupancy above 93%. During the question-and-answer session, Mooallem said replacement tenants under consideration include names such as CAVA, Starbucks, Mathnasium and Rally House. He also identified fitness, medical, veterinary, urgent-care and quick-service restaurant concepts as active sources of small-shop demand, while noting the company is monitoring restaurant concentration at individual properties. Urban Edge’s signed-but-not-open pipeline represents $22 million of future annual gross rent, equal to about 7% of current NOI. Langer said the pipeline is expected to contribute $1.7 million of new rent during the remainder of 2026, primarily in the fourth quarter, and represents approximately $7.7 million of annualized rent. At Bruckner Commons in the Bronx, BJ’s Wholesale Club, Ross, Chick-fil-A and Chipotle are under construction. Olson said rent commencements are expected to begin during 2027, with the projects collectively representing more than $8 million in annual rent. The company stabilized a Hudson Mall redevelopment project with Burlington’s May opening in Jersey City, New Jersey. HomeGoods is under construction at the center and is expected to open later this year. Urban Edge also activated an anchor project at Ledgewood Commons and a multi-tenant outparcel at Woodmore Town Center. Mooallem said completed projects over the past 12 months involved $33 million of investment and are generating an average yield of 25%. The active development pipeline totals $155 million, with about $67 million left to fund and an expected yield of approximately 12%. On the acquisition front, Urban Edge bought Shops at West Falls Church, an 85,000-square-foot Safeway-anchored center in Falls Church, Virginia, for $40 million. It also acquired a ground-lease position at Shoppers World in Framingham, Massachusetts, for $10.5 million. Olson said the two purchases carried an average cap rate of 6% and are expected to generate a 9% unleveraged internal rate of return. The company is under contract to sell Briarcliff Commons, a Kohl’s-anchored New Jersey center, for $60.5 million, with closing expected later in the month. Olson said Urban Edge seeks to sell lower-growth, high-credit assets and redeploy capital into higher-growth properties, generally targeting assets with 3% to 4% growth rather than 1% to 2% growth. Management said acquisition competition has increased and compressed retail cap rates. Olson cited a general cap-rate range of 5% to 7%, while Mooallem said buyers have become more active across asset categories. The company remains focused primarily on its existing Washington, D.C.-to-Boston corridor, though Olson said the Southeast is the most natural potential geographic expansion. Urban Edge ended the quarter with approximately $960 million of total liquidity, including $82 million of cash, $55 million drawn on its credit facility and no borrowings on its delayed-draw term loans. Net debt to adjusted EBITDA was 5.5 times, Langer said. Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties. The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Urban Edge Properties Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. FFO as Adjusted: $0.40 per share, a 10% increase over the second quarter of last year and 7% year-to-date. Same-Property NOI (including redevelopment): Grew 3.2% for the quarter and 3% year-to-date. Leasing Activity: Executed 26 leases (13 new, 13 renewals) totaling 199,000 square feet; new leases generated a same-space cash spread of 13%, renewals and options a 10% spread. Same-Property Leased Occupancy: Ended the quarter at 96.3%, down 10 basis points sequentially and 40 basis points from 2Q 2025. Shop Occupancy: Declined 70 basis points sequentially to 91.7%. Acquisitions: Acquired Shops at West Falls Church for $40 million and a ground lease position at Shoppers World for $10.5 million; average cap rate of 6%. Dispositions: Under contract to sell Briarcliff Commons for $60.5 million, expected to close this month. Net Debt to Adjusted EBITDA: 5.5 times in the second quarter. Total Liquidity: Approximately $960 million, including $82 million of cash on hand. 2026 Guidance: Raised FFO as adjusted guidance by $0.02 per share at the midpoint to a range of $1.50 to $1.54 per share; same-property NOI growth projected at 3.25% to 3.75%. Warning! GuruFocus has detected 10 Warning Signs with UE. Is UE fairly valued? Test your thesis with our free DCF calculator. Release Date: August 06, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record FFO as adjusted of $0.40 per share, a 10% increase year-over-year, with full-year guidance raised to $1.50-$1.54 per share. Same-property NOI growth of 3.2% in Q2 and 3% year-to-date, driven by higher percentage rents and lower real estate taxes. Strong leasing momentum with new lease cash spreads of 13% in Q2 and nearly 30% year-to-date, expected to exceed 20% for the year. Active redevelopment pipeline of $155 million yielding 12%, with a shadow pipeline of future projects, and completed projects generating 25% yields. Capital recycling strategy is enhancing portfolio quality, with acquisitions at 6% cap rates and dispositions at 5.2%, targeting higher-growth assets. Solid balance sheet with $960 million in liquidity and net debt to EBITDA of 5.5 times, providing flexibility for future growth. High demand for retail space in the D.C.-to-Boston corridor, with limited supply and rising rents, positioning the company for continued growth. Same-property leased occupancy declined 40 basis points year-over-year to 96.3%, partly due to the unexpected Wren Kitchens bankruptcy. Shop occupancy fell 70 basis points sequentially to 91.7%, with about half of the decline from intentional recaptures of weaker tenants. New lease spreads in Q2 were lower than Q1, highlighting quarterly volatility in leasing metrics. The acquisition market is highly competitive, with cap rates compressing across the sector, making it harder to find deals meeting return thresholds. Credit loss assumptions for Q3 and Q4 are elevated at 60-75 basis points of gross rent, reflecting ongoing tenant risk. The company is exploring expansion into the Southeast, but that market is also highly competitive, potentially limiting near-term opportunities. Q: Can you walk through the moving pieces behind the $0.03 in one-time items versus the $0.02 increase in full-year FFO guidance?A: Mark Langer (CFO) explained that the $0.03 in one-time items highlighted in the quarter (including $0.02 from Wren Kitchens termination income and $0.01 from accelerated amortization and a tax refund) did not fully flow through to the guidance increase. Part of the termination income was already baked into the plan in the form of rent, making it not truly incremental. Additionally, some of the beat came from elevated percentage rent in Q2 that would normally have been recognized later in the year, reconciling the $0.03 one-timer versus the $0.02 bump. Q: What are current cap rates for the type of centers you are acquiring, and how does the capital recycling program compare in terms of accretion?A: Jeff Olson (CEO) stated that cap rates are "all over the board," generally in the 5% to 7% range, with sellers pricing to unleveraged IRRs in the 7% to 9% range. Regarding their own capital recycling, the strategy is to sell lower-growth assets (1% to 2% growth) with high credit at low cap rates and redeploy that capital into higher-growth assets (3% to 4% growth) at cap rates generally on par with what they are selling. Q: With new lease spreads at 13% in Q2 and 30% year-to-date, does this imply mid-teens releasing spreads for the rest of the year? And are you able to get tenants open quicker to lift small shop occupancy?A: Jeff Mooallem (COO) noted that it's hard to look at any one quarter given their size, but they are very confident spreads will exceed 20% for the year, and the current pipeline should exceed that "pretty comfortably." He emphasized the quality of tenants replacing vacated spaces (e.g., CAVA, Starbucks, Mathnasium, Rally House) over single-location local tenants. On getting tenants open faster, he said it has improved because tenants are more flexible, such as taking existing HVAC systems or going under one permit, which compresses time to rent commencement, though permitting remains a challenge. Q: Given increased competition for acquisitions, would you consider expanding outside the Northeast corridor into markets like Florida or North Carolina?A: Jeff Olson (CEO) confirmed that the most natural extension for the company is to go south, and they have been actively looking in the Southeast. He acknowledged it is "super competitive" but expressed hope that they will be able to enter that market at some point. Q: Have you observed any compression in the cap rate spread between large community/power centers and typical grocery-anchored centers?A: Jeff Mooallem (COO) said "everything is compressed." Cap rates are down overall compared to late 2023 through 2025. More buyers are entering the field and looking at assets they wouldn't have considered a year or two ago, with power centers now attracting institutional names that previously might have passed. This increased competition is pushing them to focus on off-market deals and leverage their reputation as a buyer to get to the top of the list. Q: What types of anchors generally pay the highest net effective rents, and is it more category-driven or name-driven?A: Jeff Mooallem (COO) said it's "all across the board." Real rent growth is coming from big boxes (home improvement, large format stores like Target, Walmart, warehouse clubs, and large format grocers like Wegmans), as well as the discount group (TJ Maxx, Ross, Burlington) where competition is rampant. Even smaller format anchors like J.Crew, Old Navy, Ulta, and Skechers are having trouble finding great locations and are paying more rent. He concluded that anchor tenants have "woken up to what today's market rent realities are" and are stepping up. Q: What are you seeing in terms of tenant health and which categories are doing better or worse than last year?A: Jeff Mooallem (COO) highlighted that they are leaning into fitness, medical, and new concepts discovering success in neighborhood and community-based locations. Veterinary practices have "come out in a big way," urgent care is still doing deals, and boutique fitness concepts are active. QSRs continue to be a desired small shop tenant, though they are being cautious not to over-food properties. Apparel and service uses have also seen a pickup. Q: How do you think about total portfolio occupancy and shop occupancy as a natural level going forward?A: Jeff Mooallem (COO) reiterated their message of 93% to 94% shop occupancy, noting they are still on point despite the Q2 dip. He explained that a lot of shop vacancy is temporarily leased mall space in Puerto Rico and Bergen, so the math equation doesn't tell the whole story. They would be happy to hit 93.5% to 94% this year. On the anchor side, after the Wren Kitchens bankruptcy, they expect to get those boxes leased up this year and return to around 97% to 98%, with a blended 97% occupancy goal by year-end. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

-- Raises Outlook for Full-Year 2026 FFO as Adjusted -- -- Declares Quarterly Common Dividend of $0.21 per Share -- NEW YORK, August 06, 2026--(BUSINESS WIRE)--Urban Edge Properties (NYSE: UE) (the "Company") today announced its results for the quarter ended June 30, 2026 and updated its outlook for full-year 2026. "Urban Edge delivered another excellent quarter, highlighted by record FFO as Adjusted of $0.40 per share and continued momentum across our portfolio," said Jeff Olson, Chairman and CEO. "Capital recycling remains a top priority. We recently acquired The Shops at West Falls Church in Falls Church, VA, and a leasehold interest at Shoppers World in Framingham, MA, together totaling $51.1 million. We're also under contract to sell a Kohl's-anchored center in Morris Plains, NJ for $60.5 million." "Given our better-than-expected results, we raised full-year FFO as Adjusted guidance by $0.02 per share. With $22 million of signed leases that have not yet rent commenced, double-digit redevelopment yields, and sustained tenant demand across our centers, we're well positioned to continue delivering durable, visible growth." Financial Results(1)(2) The decreases in net income for the three and six months ended June 30, 2026 were primarily driven by a $49.5 million, or $0.39 per diluted share, gain on sale of real estate related to three properties divested in the second quarter of 2025. The increases in FFO and FFO as Adjusted for the three and six months ended June 30, 2026 were driven by rent commencements on new leases, higher net recovery revenue, lease termination income, and growth from accretive capital recycling. FFO for the six months ended June 30, 2026 also benefited from $8.4 million, or $0.06 per diluted share, of non-recurring reimbursements received during the first quarter of 2026 pertaining to previously incurred environmental remediation costs. Same-Property Operating Results Compared to the Prior Year Period(1)(3) Increases in same-property NOI metrics for the three and six months ended June 30, 2026 were driven by rent commencements on new leases from our signed but not open pipeline. The increase for the three months ended June 30, 2026 also benefited from out-of-period collections on past due rents. Leasing and Occupancy Results(1) Consolidated portfolio leased occupancy was 96.6%, an increase of 10 basis points compared to June 30, 2025 and 20 basis points compared to March 31, 2026. The Company reported same-property portfolio leased occupancy of 96.3%, a decrease of 40 basis points compared to June 30, 2025 and 10 basis points compared to March 31, 2026. The Company executed 26 new leases, renewals and options totaling 199,000 sf during the quarter. New leases totaled 120,000 sf, of which 90,000 sf was on a same-space basis and generated an average cash spread of 12.8%. New leases, renewals and options totaled 169,000 sf on a same-space basis and generated an average cash spread of 10.7%. As of June 30, 2026, signed leases that have not yet rent commenced are expected to generate an additional $22.0 million of future annual gross rent, representing approximately 7% of current annualized NOI. Approximately $1.7 million of this amount is expected to be recognized in the remainder of 2026. Acquisition and Disposition Activity On July 17, 2026, the Company acquired The Shops at West Falls Church for a gross purchase price of $40.4 million. The 85,000 sf shopping center is located in Falls Church, VA and sits within a densely populated and affluent submarket of Washington, D.C. with average annual household income of approximately $200,000 within a three-mile radius. The center is anchored by a grocer and provides visible growth potential through lease-up, contractual annual rent increases, and mark-to-market opportunities on expiring leases. On May 21, 2026, the Company entered into a purchase and sale agreement with the ground lessor of certain ground leased premises at Shoppers World in Framingham, MA, to acquire the ground lease for $10.7 million, allowing the Company to take over as lessor for the underlying tenant. The transaction closed on June 25, 2026. The Company is currently under contract to sell Briarcliff Commons, located in Morris Plains, NJ, for a gross sales price of $60.5 million which is expected to close later this month. Development and Redevelopment During the quarter, the Company commenced two redevelopment projects with estimated aggregate costs of $6.7 million and stabilized one project totaling $12.7 million with the rent commencement of Burlington at Hudson Mall. The completed projects over the last 12 months total $32.6 million of investment with a blended yield of 25%. As of June 30, 2026, the Company has $155.0 million of active development and redevelopment projects underway, with estimated remaining costs to complete of $66.7 million. The active development and redevelopment projects are expected to generate an approximate 12% yield. Balance Sheet and Liquidity(1)(4)(5) Balance sheet highlights as of June 30, 2026 include: Total liquidity of approximately $957 million, consisting of $82 million of cash on hand and $875 million available under the Company's $950 million of unsecured credit facilities, including undrawn letters of credit. Mortgages payable of $1.64 billion, with a weighted average term to maturity of 3.3 years, all of which are fixed rate or hedged. $55 million drawn on our $700 million unsecured line of credit that matures on June 28, 2030, with two six-month extension options. No borrowings on our $250 million of delayed-draw term loans. Total market capitalization of approximately $4.75 billion, comprised of 133.5 million fully-diluted common shares valued at $3.05 billion and $1.70 billion of debt. Net debt to total market capitalization of 34%. 2026 Outlook Based on results for the first half of the year, the Company has raised its 2026 full-year guidance ranges for net income, FFO, and FFO as Adjusted, estimating net income of $0.57 to $0.61 per diluted share, net income attributable to common shareholders of $0.55 to $0.58 per diluted share, FFO of $1.57 to $1.60 per diluted share, and FFO as Adjusted of $1.50 to $1.54 per diluted share. The updated range for FFO as Adjusted now implies a midpoint of $1.52 per diluted share, an increase of $0.02 from the previous midpoint of $1.50 per diluted share. A reconciliation of the range of estimated earnings, FFO and FFO as Adjusted, the assumptions used in our guidance, and a reconciliation bridging 2025 FFO per diluted share to the 2026 estimates can be found on pages 4 and 5 of this release. Dividend On August 6, 2026, the Board of Trustees declared a regular quarterly dividend of $0.21 per common share. The dividend will be payable on September 30, 2026 to common shareholders of record on September 15, 2026. Corporate Responsibility On June 23, 2026, the Company published its 2025 Corporate Responsibility Report. The report can be found on the Corporate Responsibility page of the Company's website. Notable achievements highlighted in the report include: Achieved a 41% reduction in scope 1 and scope 2 greenhouse gas emissions as compared to a 2015 base year and remain on track towards our goal of a 50% reduction by 2030. Reduced water consumption at landlord-controlled properties by 35% as compared to 2021. Recycled over 7,400 metric tons of materials in 2025, representing a 37% waste diversion rate. Earnings Conference Call Information The Company will host an earnings conference call and audio webcast on August 6, 2026 at 5:00 PM ET. All interested parties can access the earnings call by dialing 1-833-309-3473 (Toll Free) or 1-785-838-9251 (Toll/International) using conference ID "URBAN" (87226). The call will also be webcast and available in listen-only mode on the investors page of our website: www.uedge.com. A replay will be available at the webcast link on the investors page for one year following the conclusion of the call. A telephonic replay of the call will also be available starting August 6, 2026 at 8:00 PM ET through August 20, 2026 at 11:59 PM ET by dialing 1-844-512-2921 (Toll Free) or 1-412-317-6671 (Toll/International) using conference ID 11162144. 2026 Earnings Guidance The Company has raised its 2026 full-year guidance ranges for net income, FFO, and FFO as Adjusted, estimating net income of $0.57 to $0.61 per diluted share, net income attributable to common shareholders of $0.55 to $0.58 per diluted share, FFO of $1.57 to $1.60 per diluted share, and FFO as Adjusted of $1.50 to $1.54 per diluted share. Below is a summary of the Company's 2026 outlook, assumptions used in its forecasting, and a reconciliation of the range of estimated earnings, FFO, and FFO as Adjusted per diluted share. The Company's revised 2026 full-year outlook is based on the following assumptions: Same-property NOI growth, including properties in redevelopment, of 3.25% to 3.75%, reflecting an increase from our previous assumption of 3.00% to 3.75%. Recurring G&A expenses ranging from $34.5 million to $36.5 million, unchanged from our previous assumption. Interest and debt expense ranging from $78.0 million to $79.0 million, unchanged from our previous assumption. Acquisitions of $95 million, reflecting activity completed year-to-date, and dispositions of $60.5 million reflecting properties currently under contract. Excludes items that impact FFO comparability, including gains and/or losses on extinguishment of debt, transaction, severance, litigation, and other one-time items outside of the ordinary course of business. The following table is a reconciliation bridging 2025 FFO per diluted share to the Company's estimated 2026 FFO per diluted share: The Company is providing a projection of anticipated net income solely to satisfy the disclosure requirements of the Securities and Exchange Commission ("SEC"). The Company's projections are based on management’s current beliefs and assumptions about the Company's business, and the industry and the markets in which it operates; there are known and unknown risks and uncertainties associated with these projections. There can be no assurance that actual results will not differ from the guidance set forth above. The Company assumes no obligation to update publicly any forward-looking statements, including its 2026 earnings guidance, whether as a result of new information, future events or otherwise. Please refer to the "Forward-Looking Statements" disclosures on page 8 of this document and "Risk Factors" disclosed in the Company's annual and quarterly reports filed with the SEC for more information. Non-GAAP Financial Measures The Company uses certain non-GAAP performance measures, in addition to the primary GAAP presentations, as we believe these measures improve the understanding of the Company's operational results. We continually evaluate the usefulness, relevance, limitations, and calculation of our reported non-GAAP performance measures to determine how best to provide relevant information to the investing public, and thus such reported measures are subject to change. The Company's non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results. Additionally, the Company's computation of non-GAAP metrics may not be comparable to similarly titled non-GAAP metrics reported by other real estate investment trusts ("REITs") or real estate companies that define these metrics differently and, as a result, it is important to understand the manner in which the Company defines and calculates each of its non-GAAP metrics. The following non-GAAP measures are commonly used by the Company and investing public to understand and evaluate our operating results and performance: FFO: The Company believes FFO is a useful, supplemental measure of its operating performance that is a recognized metric used extensively by the real estate industry and, in particular REITs. FFO, as defined by the National Association of Real Estate Investment Trusts ("Nareit") and the Company, is net income (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable real estate and land when connected to the main business of a REIT, impairments on depreciable real estate or land related to a REIT's main business, earnings from consolidated partially owned entities and rental property depreciation and amortization expense. The Company believes that financial analysts, investors and shareholders are better served by the presentation of comparable period operating results generated from FFO primarily because it excludes the assumption that the value of real estate assets diminishes predictably. FFO does not represent cash flows from operating activities in accordance with GAAP, should not be considered an alternative to net income as an indication of our performance, and is not indicative of cash flow as a measure of liquidity or our ability to make cash distributions. FFO as Adjusted: The Company provides disclosure of FFO as Adjusted because it believes it is a useful supplemental measure of its core operating performance that facilitates comparability of historical financial periods. FFO as Adjusted is calculated by making certain adjustments to FFO to account for items the Company does not believe are representative of ongoing core operating results, including non-comparable revenues and expenses. The Company's method of calculating FFO as Adjusted may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs. NOI: The Company uses NOI internally to make investment and capital allocation decisions and to compare the unlevered performance of our properties to our peers. The Company believes NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis, providing perspective not immediately apparent from net income. The Company calculates NOI using net income as defined by GAAP reflecting only those income and expense items that are incurred at the property level and through the Company's captive insurance program, adjusted for non-cash rental income and expense, impairments on depreciable real estate or land, and income or expenses that we do not believe are representative of ongoing operating results, if any. In addition, the Company uses NOI margin, calculated as NOI divided by total property revenue, which the Company believes is useful to investors for similar reasons. Same-property NOI: The Company provides disclosure of NOI on a same-property basis, which includes the results of properties that were owned and operated for the entirety of the reporting periods being compared, which total 65 properties for the three and six months ended June 30, 2026 and 2025. Information provided on a same-property basis excludes properties under development, redevelopment or that involve anchor repositioning where a substantial portion of the gross leasable area ("GLA") is taken out of service and also excludes properties acquired, sold, held for sale, or that are in the foreclosure process during the periods being compared, and results of our captive insurance program. As such, same-property NOI assists in eliminating disparities in net income due to the development, redevelopment, acquisition, disposition, or foreclosure of properties and results of our captive insurance program during the periods presented, and thus provides a more consistent performance measure for the comparison of the operating performance of the Company's properties. While there is judgment surrounding changes in designations, a property is removed from the same-property pool when it is designated as a redevelopment property because it is undergoing significant renovation or retenanting pursuant to a formal plan that is expected to have a significant impact on its operating income. A development or redevelopment property is moved back to the same-property pool once a substantial portion of the NOI growth expected from the development or redevelopment is reflected in both the current and comparable prior year period, generally one year after at least 80% of the expected NOI from the project is realized on a cash basis. Acquisitions are moved into the same-property pool once we have owned the property for the entirety of the comparable periods and the property is not under significant development or redevelopment. The Company has also provided disclosure of NOI on a same-property basis adjusted to include redevelopment properties. Same-property NOI may include other adjustments as detailed in the Reconciliation of Net Income to NOI and Same-Property NOI included in the tables accompanying this press release. EBITDAre and Adjusted EBITDAre: EBITDAre and Adjusted EBITDAre are supplemental, non-GAAP measures utilized by us in various financial ratios. The White Paper on EBITDAre, approved by Nareit's Board of Governors in September 2017, defines EBITDAre as net income (computed in accordance with GAAP), adjusted for interest expense, income tax (benefit) expense, depreciation and amortization, losses and gains on the disposition of depreciated property, impairment write-downs of depreciated property and investments in unconsolidated joint ventures, and adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures. EBITDAre and Adjusted EBITDAre are presented to assist investors in the evaluation of REITs, as a measure of the Company's operational performance as they exclude various items that do not relate to or are not indicative of our operating performance and because they approximate key performance measures in our debt covenants. Accordingly, the Company believes that the use of EBITDAre and Adjusted EBITDAre, as opposed to income before income taxes, in various ratios provides meaningful performance measures related to the Company's ability to meet various coverage tests for the stated periods. Adjusted EBITDAre may include other adjustments not indicative of operating results as detailed in the Reconciliation of Net Income to EBITDAre and Adjusted EBITDAre included in the tables accompanying this press release. The Company also presents the ratio of net debt (net of cash) to annualized Adjusted EBITDAre as of June 30, 2026, and net debt (net of cash) to total market capitalization, which it believes is useful to investors as a supplemental measure in evaluating the Company's balance sheet leverage. The Company believes net income is the most directly comparable GAAP financial measure to the non-GAAP performance measures outlined above. Reconciliations of these measures to net income have been provided in the tables accompanying this press release. Operating Metrics The Company presents certain operating metrics related to our properties, including occupancy, leasing activity and rental rates. Operating metrics used by the Company are useful to investors in facilitating an understanding of the operational performance for our properties. Recovery ratios represent the percentage of operating expenses recuperated through tenant reimbursements. This metric is presented on a same-property and same-property including redevelopment basis and is calculated by dividing tenant expense reimbursements (adjusted to exclude any ancillary income) by the sum of real estate taxes and property operating expenses. Occupancy metrics represent the percentage of occupied gross leasable area based on executed leases (including properties in development and redevelopment) and include leases signed, but for which rent has not yet commenced. Same-property portfolio leased occupancy includes properties that have been owned and operated for the entirety of the reporting periods being compared, which total 65 properties for the three and six months ended June 30, 2026 and 2025. Occupancy metrics presented for the Company's same-property portfolio exclude properties under development, redevelopment or that involve anchor repositioning where a substantial portion of the gross leasable area is taken out of service and also excludes properties acquired within the past 12 months, properties sold or held for sale, and properties that are in the foreclosure process during the periods being compared. Executed new leases, renewals and exercised options are presented on a same-space basis. Same-space leases represent those leases signed on spaces for which there was a previous lease. The Company occasionally provides disclosures by tenant categories which include anchors, shops and industrial/self-storage. Anchors and shops are further broken down by local, regional and national tenants. We define anchor tenants as those who have a leased area of >10,000 sf. Local tenants are defined as those with less than five locations. Regional tenants are those with five or more locations in a single region. National tenants are defined as those with five or more locations and that operate in two or more regions. ADDITIONAL INFORMATION For a copy of the Company’s supplemental disclosure package, please access the "Investors" section of our website at www.uedge.com. Our website also includes other financial information, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports. The Company uses, and intends to continue to use, the "Investors" page of its website, which can be found at www.uedge.com, as a means of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the "Investors" page, in addition to following the Company's press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. ABOUT URBAN EDGE Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 75 properties totaling 16.2 million square feet of gross leasable area. FORWARD-LOOKING STATEMENTS Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition, business and targeted occupancy may differ materially from those expressed in these forward-looking statements. You can identify many of these statements by words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to control or predict and include, among others: (i) macroeconomic conditions, including geopolitical conditions and instability, and international trade disputes, including any related tariffs, which may lead to rising inflation, adverse impacts to supply chains, and disruption of, or lack of access to, the capital markets, as well as potential volatility in the Company’s share price; (ii) the economic, political and social impact of, and uncertainty relating to, epidemics and pandemics; (iii) the loss or bankruptcy of major tenants; (iv) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration and the Company’s ability to re-lease its properties on the same or better terms, or at all, in the event of non-renewal or in the event the Company exercises its right to replace an existing tenant; (v) the impact of e-commerce on our tenants’ business; (vi) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (vii) changes in general economic conditions or economic conditions in the markets in which the Company competes, and their effect on the Company’s revenues, earnings and funding sources, and on those of its tenants; (viii) increases in the Company’s borrowing costs as a result of changes in interest rates, rising inflation, and other factors; (ix) the Company’s ability to pay down, refinance, hedge, restructure or extend its indebtedness as it becomes due and potential limitations on the Company’s ability to borrow funds under its existing credit facility as a result of covenants relating to the Company’s financial results; (x) potentially higher costs associated with the Company’s development, redevelopment and anchor repositioning projects, and the Company’s ability to lease the properties at projected rates; (xi) the Company’s liability for environmental matters; (xii) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xiii) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xiv) information technology security breaches; (xv) the loss of key executives; and (xvi) the accuracy of methodologies and estimates regarding our environmental, social and governance (collectively, our Corporate Responsibility or "CR") metrics, goals and targets, tenant willingness and ability to collaborate towards reporting CR metrics and meeting CR goals and targets, and the impact of governmental regulation on our CR efforts. For further discussion of factors that could materially affect the outcome of our forward-looking statements, see "Risk Factors" in Part I, Item 1A, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and the other documents filed by the Company with the Securities and Exchange Commission (the "SEC"). We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for any forward-looking statements included in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances occurring after the date of this press release. Reconciliation of Net Income to FFO and FFO as Adjusted The following table reflects the reconciliation of net income to FFO and FFO as Adjusted for the three and six months ended June 30, 2026 and 2025. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 6 for a description of FFO and FFO as Adjusted. Reconciliation of Net Income to NOI and Same-Property NOI The following table reflects the reconciliation of net income to NOI, same-property NOI and same-property NOI including properties in redevelopment for the three and six months ended June 30, 2026 and 2025. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 6 for a description of NOI and same-property NOI. Reconciliation of Net Income to EBITDAre and Adjusted EBITDAre The following table reflects the reconciliation of net income to EBITDAre and Adjusted EBITDAre for the three and six months ended June 30, 2026 and 2025. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 6 for a description of EBITDAre and Adjusted EBITDAre. View source version on businesswire.com: https://www.businesswire.com/news/home/20260806377996/en/ Contacts For additional information:Mark Langer, EVP andChief Financial Officer212-956-0082

Urban Edge reported FFO as adjusted of $0.36 per share in Q1, up 3% year-over-year, and raised 2026 FFO guidance to $1.48–$1.52 while boosting same-property NOI guidance to 3%–3.75% after Q1 same-property NOI rose 2.8%. Leasing momentum remained strong with 45 leases (13 new, 32 renewals) totaling 419,000 sq ft; new deals showed a 52% same-space cash rent spread and contractual escalators of 3%+, while occupancy finished at 96.4% with a year-end target of 97%–98%. Growth and balance-sheet highlights include a $22 million SNO pipeline (~7% of NOI) with an additional $3.3 million expected in 2026, an active redevelopment pipeline of $157 million targeting a 13% yield (stabilized projects showing ~50% yield), a $54 million acquisition at a 7.7% cap rate, and nearly $1 billion of liquidity. Interested in Urban Edge Properties? Here are five stocks we like better. Cameco Corporation Is the Only Uranium Play to Consider Urban Edge Properties (NYSE:UE) reported what Chairman and CEO Jeff Olson described as a “great first quarter,” with results that exceeded internal expectations as leasing activity and rent commencements drove growth across the portfolio. For the first quarter of 2026, Urban Edge generated FFO as adjusted of $0.36 per share, up 3% from the year-ago period, according to Olson and CFO Mark Langer. Same-property net operating income (NOI), including redevelopment, increased 2.8%, which management attributed primarily to rent commencements from the company’s signed-but-not-open (SNO) pipeline. → Roblox Stock Slides to New Low as Safety Changes Weigh on Outlook Based on first-quarter performance, the company raised its 2026 FFO as adjusted guidance by $0.01 per share on the low end to $1.48 to $1.52 per share. Langer said the change was driven “primarily due to the 25 basis point increase on the low end of our same property NOI guidance,” which now stands at 3% to 3.75%. Chief Operating Officer Jeffrey Mooallem said demand for Urban Edge’s space “remains strong and leasing momentum has not slowed.” During the quarter, the company executed 45 leases—13 new leases and 32 renewals—totaling 419,000 square feet. New leases were signed at a 52% same-space cash rent spread. Mooallem also highlighted lease structuring, noting that every new lease signed in the quarter, including two new anchor leases, contained contractual annual rent increases of 3% or higher. → These 3 AI Stocks Just Crushed Earnings: Still Time To Buy? However, Mooallem told analysts that level of escalator is not necessarily a new standard for anchors. He characterized the quarter as an “outlier,” adding that some anchor tenants “fight really hard” on increases, but said Urban Edge is increasingly able to secure better terms due to limited supply and strong demand. He described the current conditions as “the strongest anchor leasing market we’ve seen in a really long time, simply because of the imbalance between supply and demand.” Same-property lease occupancy ended the quarter at 96.4%, down 30 basis points versus the prior quarter and the year-ago quarter. Mooallem said the decline was expected and was “primarily driven by the recapture of the Saks box at Hanover Commons,” where the company is evaluating alternative uses, including a grocer, apparel, or reconfiguring for additional shop space. Management reiterated a goal of 97% to 98% occupancy by year-end, citing pipeline activity. → SanDisk Earnings Crush Estimates With 251% Revenue Surge In the Q&A, Mooallem said tenants are increasingly engaging earlier on renewals. He explained that the leasing team is often assessing market alternatives for a space before approaching the incumbent tenant, allowing the company to negotiate from a stronger position: “We have another option here for your space. You need to pay X to stay.” Olson said the company’s SNO pipeline remains a “meaningful contributor” to growth, representing $22 million of annual gross rent, or approximately 7% of current NOI, providing visibility into earnings through 2027. Langer added that Urban Edge expects to recognize another $3.3 million of gross rents from the SNO pipeline over the remainder of 2026, with 90% expected in the third and fourth quarters. On redevelopment, Mooallem said the company stabilized four projects totaling $7 million during the quarter. These included rent commencements for: Trader Joe’s and Ross at Plaza at Woodbridge Lidl and Boot Barn at Totowa Commons Texas Roadhouse at The Outlets at Montehiedra Big Blue at Plaza at Cherry Hill Mooallem said the stabilized projects generate “nearly a 50% yield,” which he attributed to lower levels of landlord contributions that national retailers are now accepting. He said the active redevelopment pipeline totals $157 million with an expected yield of 13% and is “largely pre-leased.” In March, Urban Edge acquired The Village at Bridgewater Commons, a 92,000-square-foot shopping center in Bridgewater, New Jersey, for $54 million at a 7.7% cap rate. Olson said the property is in a “highly trafficked corridor within an affluent market” and draws 2.2 million visitors per year, which he called among the highest for its size. Tenants include Summit Health, Chipotle, Shake Shack, Millburn Deli, CAVA, and Starbucks. Olson said the company “got lucky” on pricing, explaining that the center traded at a higher cap rate partly because the anchor is not a grocery store but instead Summit Health, which he described as “a very high credit healthcare tenant” with 11 years of remaining term. Olson added that the company’s revised numbers for the asset expect to generate 2.75% NOI growth, with more than half coming from contractual rent increases and option exercises. Management said the acquisition was structured as an accretive 1031 exchange tied to an expected sale of a Kohl’s-anchored property in New Jersey. In the Q&A, Olson said the company is “in diligence with the buyer right now,” and hopes to close soon, confirming the strategy is to sell at a lower cap rate while improving the portfolio’s credit profile. On the balance sheet, Langer said Urban Edge secured a $62.5 million, seven-year non-recourse mortgage on The Plaza at Woodbridge at a swap fixed rate of 5%. He also said the company ended the quarter with nearly $1 billion of total liquidity, with $30 million drawn on its credit facility and no amounts drawn on its delayed-draw term loans. Discussing Woodbridge, Langer described an asset management strategy in which the company paid off a prior roughly $50 million mortgage last year after seeing “line of sight” on re-leasing upside. He cited replacing Bed Bath & Beyond and buybuy BABY space paying $17 per foot with tenants including Trader Joe’s and Ross at a blended “around $25 a foot,” and other rent increases, resulting in the company “extract[ing] $12 million more in this new mortgage.” Langer said first-quarter results included better-than-expected recoveries, including $500,000 of out-of-period tax refunds related to settled appeals for multiple prior years. He noted higher-than-expected bad debt offset some of the benefit and said it related to “isolated cases” moved to cash basis. In response to an analyst question, Langer specified the largest issue involved “a franchise operator that has six different QSR locations” in the company’s Puerto Rico portfolio. He said that since quarter end, Urban Edge executed a payment plan, the tenant “has fully paid April rent,” and began paying arrears. Langer said the company expects uncollected rent to trend near 75 basis points of gross rents for the rest of the year. Mooallem said Puerto Rico continues to see tenant interest, with brands including Sephora (expected to open soon at Caguas), Coach, and Bath & Body Works, and noted that a TJ Maxx that opened last year has performed “extremely strong.” He added that the company is looking to grow ancillary income opportunities such as “signage, carts and kiosks.” Olson said Puerto Rico growth “should be in that 3.5%–4% range.” On Sunrise Mall, Olson said the entitlement process is “advancing on schedule” and reiterated prior disclosure that Amazon will occupy about a third of the property. Mooallem added that the last mall tenant, Dick’s Sporting Goods, was set to return the keys the next day, leaving Urban Edge “fully unencumbered” and able to advance plans later in the year. Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties. The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators. The article "Urban Edge Properties Q1 Earnings Call Highlights" was originally published by MarketBeat.

Track your investments for FREE with Simply Wall St, the portfolio command center trusted by over 7 million individual investors worldwide. Urban Edge Properties (UE) is back on investors radar after first quarter 2026 results showed higher revenue, a larger net income figure and updated funds from operations guidance alongside fresh leasing and acquisition activity. See our latest analysis for Urban Edge Properties. The stronger first quarter figures and updated funds from operations guidance come as the stock trades at US$21.92, with a 30 day share price return of 9.71% and a 1 year total shareholder return of 24.49%. This builds on a 3 year total shareholder return of 70.89%. If these results have you looking beyond a single REIT, it could be a good moment to scan for other income focused names with resilient cash flows via our 17 top founder-led companies With UE now at US$21.92 and trading only slightly below analyst and intrinsic estimates, the key question for you is whether recent gains still leave upside on the table or whether the market is already pricing in future growth. With Urban Edge Properties closing at $21.92 against a most-followed fair value narrative of $22.14, the current price sits only slightly below that modeled estimate, which puts more focus on the assumptions behind the story than on any big pricing gap. Read the complete narrative. Want to understand why this fair value still points to only a small discount? The core of the narrative leans on shrinking revenue, steady margins and a much higher future earnings multiple. Curious which combination of earnings, revenue and discount rate assumptions keeps the target pinned near $22 per share rather than far above or below? Result: Fair Value of $22.14 (UNDERVALUED) Have a read of the narrative in full and understand what's behind the forecasts. However, it is worth weighing how reliance on densely concentrated Northeast markets and pressure on certain big box tenants could unsettle occupancy, cash flows, and the current valuation story. Find out about the key risks to this Urban Edge Properties narrative. If this mix of cautious optimism and open questions resonates with you, take a closer look at the underlying data and act promptly to form your own view using our 2 key rewards and 4 important warning signs If you stop with just one stock, you risk missing other opportunities that better match your goals, risk comfort and income needs across the market. Target fresh potential by scanning screener containing 25 high quality undiscovered gems that combine solid fundamentals with the chance to get in before the crowd pays attention. Strengthen your foundation by reviewing the solid balance sheet and fundamentals stocks screener (44 results) and focus on companies built to handle tougher conditions without stressing their finances. Build a cash flow stream by checking the 12 dividend fortresses and see which names currently offer higher yields with the potential for ongoing distributions. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include UE. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email [email protected]

Performance exceeded internal expectations driven by strong rent commencements from the signed-but-not-open (SNO) pipeline and robust leasing fundamentals. Management is shifting strategy toward proactive space recapture, targeting under-leased tenants with low rents to convert spaces to higher-value uses at market rates. The acquisition of the Village at Bridgewater Commons for $54 million at a 7.7% cap rate was structured as an accretive 1031 exchange to improve credit profile and growth. Leasing demand remains exceptionally strong for high-quality space, allowing the company to extract 3% or higher annual rent escalators even from national anchor tenants. Portfolio strength is concentrated in the D.C. to Boston corridor, where high population density and limited supply are driving rent growth above inflationary levels. Operational execution is focused on optimizing merchandise mix while balancing capital contributions, which have decreased as retailers accept lower landlord incentives. FFO guidance was raised to $1.48–$1.52 per share, reflecting a 5% growth target for 2026 at the midpoint. The $22 million SNO pipeline provides high visibility into earnings through 2027, with 90% of remaining 2026 SNO revenue expected in the second half of the year. Management expects portfolio occupancy to reach 97% to 98% by year-end 2026, supported by a robust pipeline of new leases with expected spreads exceeding 20%. The $157 million active redevelopment pipeline is largely pre-leased and expected to deliver an attractive 13% yield. Bad debt is projected to normalize at approximately 75 basis points of gross rents for the remainder of the year following isolated Q1 issues. A temporary 30 basis point dip in occupancy was attributed to the strategic recapture of a Saks box at Hanover Commons for future redevelopment. Q1 property operating expenses were impacted by $3.5 million in incremental snow-related costs compared to the prior year. The company recorded an $8 million gain in other income related to a state reimbursement for historical environmental remediation costs. The Sunrise Mall redevelopment is advancing, with the site expected to be fully unencumbered tomorrow following the return of keys from the final tenant, Dick's Sporting Goods. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. The spike was primarily due to a single franchise operator with six QSR locations in Puerto Rico being moved to a cash basis. Management noted the tenant has since entered a payment plan and paid April rent, suggesting the issue is isolated rather than systemic. Management described the current anchor leasing market as the strongest in a long time due to a severe supply-demand imbalance. Landlords are gaining leverage to negotiate earlier, push for 3% annual escalators, and even market occupied space to competitors before a lease expires. The company exercised an early recapture right for 2027 and is seeing demand that exceeds expectations from multiple national retailers. Management anticipates re-tenanting the box at a 75% to 150% rent spread over the existing lease while improving the asset's credit profile. A new $62.5 million mortgage was secured at 5% after re-tenanting former Bed Bath & Beyond space with higher-paying tenants like Trader Joe's and Ross. The strategy allowed the company to extract $12 million in additional proceeds while maintaining the ability to add further income from future outparcel work. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

NEW YORK, April 29, 2026--(BUSINESS WIRE)--Urban Edge Properties (NYSE: UE) (the "Company") today announced its results for the quarter ended March 31, 2026 and updated its outlook for full-year 2026. "Our first quarter results reflect the continued strength and quality of our portfolio," said Jeff Olson, Chairman and CEO. "We executed 419,000 sf of leasing transactions in the quarter, including 84,000 sf of new leases at a cash spread of 52%, and 335,000 sf of renewals, achieving a blended cash spread of 15%. We acquired The Village at Bridgewater Commons in Bridgewater, New Jersey for $54 million, advancing our external growth plans. We have also raised the low end of our FFO as Adjusted guidance from a range of $1.47 to $1.52 per diluted share to $1.48 to $1.52 per diluted share." "As we look ahead, our leasing pipeline remains robust, our balance sheet is well-positioned, and we believe the fundamentals driving our business - including the ongoing demand for high-quality retail space and supply constraints in our markets - will translate into sustained long-term growth," he concluded. Financial Results(1)(2) The increases in net income, FFO and FFO as Adjusted for the three months ended March 31, 2026 were driven by rent commencements on new leases, higher net recovery revenue, growth from accretive capital recycling and lower interest and debt expense. Net income and FFO for the three months ended March 31, 2026 also benefited from $8.4 million, or $0.06 per diluted share, of non-recurring reimbursements received during the quarter pertaining to previously incurred environmental remediation costs. Same-Property Operating Results Compared to the Prior Year Period(1)(3) Increases in same-property NOI metrics for the three months ended March 31, 2026 were driven by rent commencements on new leases from our signed but not open pipeline and higher net recovery revenue, partially offset by higher levels of uncollected rents. Leasing and Occupancy Results(1) The Company reported same-property portfolio leased occupancy of 96.4%, a decrease of 30 basis points compared to March 31, 2025 and December 31, 2025. Consolidated portfolio leased occupancy was 96.4%, flat compared to March 31, 2025 and a decrease of 30 basis points compared to December 31, 2025. Retail shop leased occupancy was 92.4%, flat compared to March 31, 2025 and a decrease of 20 basis points compared to December 31, 2025. The Company executed 45 new leases, renewals and options totaling 419,000 sf during the quarter. New leases totaled 84,000 sf, of which 59,000 sf was on a same-space basis and generated an average cash spread of 51.6%. New leases, renewals and options totaled 394,000 sf on a same-space basis and generated an average cash spread of 14.6%. As of March 31, 2026, signed leases that have not yet rent commenced are expected to generate an additional $21.7 million of future annual gross rent, representing approximately 7% of current annualized NOI. Approximately $3.3 million of this amount is expected to be recognized in the remainder of 2026. Acquisition Activity On March 30, 2026, the Company acquired The Village at Bridgewater Commons for a gross purchase price of $54.3 million, reflecting a 7.7% capitalization rate. The 92,000 sf shopping center is located in Bridgewater, NJ along a highly trafficked and affluent retail corridor with a 5-mile annual average household income of $183,000. The center features a freestanding medical building for Summit Health as well as several high-quality quick-service restaurants including Chipotle, Shake Shack, Cava and Starbucks. Financing Activity On January 22, 2026, the Company entered into $950 million of unsecured credit facilities, expanding its borrowing capacity by $150 million. The unsecured credit facilities are comprised of an unsecured line of credit and two delayed-draw term loans aggregating $250 million. The Company’s existing revolving credit agreement was amended and restated to reduce the unsecured line of credit by $100 million to $700 million and extend the maturity date to June 2030 with two six-month extension options. The term loans are $125 million each consisting of a 5-year maturity and a 7-year maturity, both of which have a delayed-draw feature through January 22, 2027. Based on the Company's current leverage ratio, borrowings under the unsecured line of credit, 5-year term loan and 7-year term loan bear interest at SOFR plus 1.00%, SOFR plus 1.15% and SOFR plus 1.50%, respectively. On March 18, 2026, the Company obtained a $62.5 million, 7-year non-recourse mortgage secured by Plaza at Woodbridge with a swapped fixed interest rate of 5.0%. As of March 31, 2026, the Company had $30 million outstanding under its unsecured line of credit and no amounts drawn on either of the 5-year or 7-year term loans. Development and Redevelopment During the quarter, the Company stabilized four redevelopment projects totaling $6.8 million with new rent commencements from Lidl and Boot Barn at Totowa Commons, Ross Dress for Less at Plaza at Woodbridge, Texas Roadhouse at Outlets at Montehiedra, and Big Blue Swim School at Plaza at Cherry Hill. As of March 31, 2026, the Company has $157.3 million of active development and redevelopment projects underway, with estimated remaining costs to complete of $66.8 million. The active development and redevelopment projects are expected to generate an approximate 13% yield. Balance Sheet and Liquidity(1)(4)(5) Balance sheet highlights as of March 31, 2026 include: Total liquidity of approximately $968 million, consisting of $76 million of cash on hand and $892 million available under the Company's $950 million of unsecured credit facilities, including undrawn letters of credit. Mortgages payable of $1.68 billion, with a weighted average term to maturity of 3.6 years, all of which are fixed rate or hedged. $30 million drawn on our $700 million unsecured line of credit that matures on June 28, 2030, with two six-month extension options. No outstanding balance on our $250 million of delayed-draw term loans. Total market capitalization of approximately $4.37 billion, comprised of 133.3 million fully-diluted common shares valued at $2.66 billion and $1.71 billion of debt. Net debt to total market capitalization of 37%. 2026 Outlook The Company has updated its 2026 full-year guidance ranges for net income and FFO and raised the low end of its guidance range by $0.01 per diluted share for FFO as Adjusted, estimating net income of $0.56 to $0.60 per diluted share, FFO of $1.54 to $1.58 per diluted share and FFO as Adjusted of $1.48 to $1.52 per diluted share. A reconciliation of the range of estimated earnings, FFO and FFO as Adjusted, the assumptions used in our guidance, and a reconciliation bridging 2025 FFO per diluted share to the 2026 estimates can be found on pages 4 and 5 of this release. Earnings Conference Call Information The Company will host an earnings conference call and audio webcast on April 29, 2026 at 8:30 AM ET. All interested parties can access the earnings call by dialing 1-877-407-9716 (Toll Free) or 1-201-493-6779 (Toll/International) using conference ID 13759141. The call will also be webcast and available in listen-only mode on the investors page of our website: www.uedge.com. A replay will be available at the webcast link on the investors page for one year following the conclusion of the call. A telephonic replay of the call will also be available starting April 29, 2026 at 11:30 AM ET through May 13, 2026 at 11:59 PM ET by dialing 1-844-512-2921 (Toll Free) or 1-412-317-6671 (Toll/International) using conference ID 13759141. 2026 Earnings Guidance The Company has updated its 2026 full-year guidance ranges for net income and FFO and raised the low end of its guidance range by $0.01 per diluted share for FFO as Adjusted, estimating net income of $0.56 to $0.60 per diluted share, FFO of $1.54 to $1.58 per diluted share and FFO as Adjusted of $1.48 to $1.52 per diluted share. Below is a summary of the Company's 2026 outlook, assumptions used in its forecasting, and a reconciliation of the range of estimated earnings, FFO, and FFO as Adjusted per diluted share. The Company's revised 2026 full-year outlook is based on the following assumptions: Same-property NOI growth, including properties in redevelopment, of 3.00% to 3.75%, reflecting an increase on the low end from our previous assumption of 2.75% to 3.75%. Recurring G&A expenses ranging from $34.5 million to $36.5 million, unchanged from our previous assumption. Interest and debt expense ranging from $78.0 million to $79.0 million, reflecting a decrease from our previous assumption of $78.9 million to $80.9 million. Acquisitions of $54 million, reflecting activity completed year-to-date, and dispositions of $60 million to $65 million. Excludes items that impact FFO comparability, including gains and/or losses on extinguishment of debt, transaction, severance, litigation, and other one-time items outside of the ordinary course of business. The following table is a reconciliation bridging 2025 FFO per diluted share to the Company's estimated 2026 FFO per diluted share: The Company is providing a projection of anticipated net income solely to satisfy the disclosure requirements of the Securities and Exchange Commission ("SEC"). The Company's projections are based on management’s current beliefs and assumptions about the Company's business, and the industry and the markets in which it operates; there are known and unknown risks and uncertainties associated with these projections. There can be no assurance that actual results will not differ from the guidance set forth above. The Company assumes no obligation to update publicly any forward-looking statements, including its 2026 earnings guidance, whether as a result of new information, future events or otherwise. Please refer to the "Forward-Looking Statements" disclosures on page 8 of this document and "Risk Factors" disclosed in the Company's annual and quarterly reports filed with the SEC for more information. Non-GAAP Financial Measures The Company uses certain non-GAAP performance measures, in addition to the primary GAAP presentations, as we believe these measures improve the understanding of the Company's operational results. We continually evaluate the usefulness, relevance, limitations, and calculation of our reported non-GAAP performance measures to determine how best to provide relevant information to the investing public, and thus such reported measures are subject to change. The Company's non-GAAP performance measures have limitations as they do not include all items of income and expense that affect operations, and accordingly, should always be considered as supplemental financial results. Additionally, the Company's computation of non-GAAP metrics may not be comparable to similarly titled non-GAAP metrics reported by other real estate investment trusts ("REITs") or real estate companies that define these metrics differently and, as a result, it is important to understand the manner in which the Company defines and calculates each of its non-GAAP metrics. The following non-GAAP measures are commonly used by the Company and investing public to understand and evaluate our operating results and performance: FFO: The Company believes FFO is a useful, supplemental measure of its operating performance that is a recognized metric used extensively by the real estate industry and, in particular REITs. FFO, as defined by the National Association of Real Estate Investment Trusts ("Nareit") and the Company, is net income (computed in accordance with GAAP), excluding gains (or losses) from sales of depreciable real estate and land when connected to the main business of a REIT, impairments on depreciable real estate or land related to a REIT's main business, earnings from consolidated partially owned entities and rental property depreciation and amortization expense. The Company believes that financial analysts, investors and shareholders are better served by the presentation of comparable period operating results generated from FFO primarily because it excludes the assumption that the value of real estate assets diminishes predictably. FFO does not represent cash flows from operating activities in accordance with GAAP, should not be considered an alternative to net income as an indication of our performance, and is not indicative of cash flow as a measure of liquidity or our ability to make cash distributions. FFO as Adjusted: The Company provides disclosure of FFO as Adjusted because it believes it is a useful supplemental measure of its core operating performance that facilitates comparability of historical financial periods. FFO as Adjusted is calculated by making certain adjustments to FFO to account for items the Company does not believe are representative of ongoing core operating results, including non-comparable revenues and expenses. The Company's method of calculating FFO as Adjusted may be different from methods used by other REITs and, accordingly, may not be comparable to such other REITs. NOI: The Company uses NOI internally to make investment and capital allocation decisions and to compare the unlevered performance of our properties to our peers. The Company believes NOI is useful to investors as a performance measure because, when compared across periods, NOI reflects the impact on operations from trends in occupancy rates, rental rates, operating costs and acquisition and disposition activity on an unleveraged basis, providing perspective not immediately apparent from net income. The Company calculates NOI using net income as defined by GAAP reflecting only those income and expense items that are incurred at the property level and through the Company's captive insurance program, adjusted for non-cash rental income and expense, impairments on depreciable real estate or land, and income or expenses that we do not believe are representative of ongoing operating results, if any. In addition, the Company uses NOI margin, calculated as NOI divided by total property revenue, which the Company believes is useful to investors for similar reasons. Same-property NOI: The Company provides disclosure of NOI on a same-property basis, which includes the results of properties that were owned and operated for the entirety of the reporting periods being compared, which total 66 properties for the three months ended March 31, 2026 and 2025. Information provided on a same-property basis excludes properties under development, redevelopment or that involve anchor repositioning where a substantial portion of the gross leasable area ("GLA") is taken out of service and also excludes properties acquired, sold, or that are in the foreclosure process during the periods being compared, and results of our captive insurance program. As such, same-property NOI assists in eliminating disparities in net income due to the development, redevelopment, acquisition, disposition, or foreclosure of properties and results of our captive insurance program during the periods presented, and thus provides a more consistent performance measure for the comparison of the operating performance of the Company's properties. While there is judgment surrounding changes in designations, a property is removed from the same-property pool when it is designated as a redevelopment property because it is undergoing significant renovation or retenanting pursuant to a formal plan that is expected to have a significant impact on its operating income. A development or redevelopment property is moved back to the same-property pool once a substantial portion of the NOI growth expected from the development or redevelopment is reflected in both the current and comparable prior year period, generally one year after at least 80% of the expected NOI from the project is realized on a cash basis. Acquisitions are moved into the same-property pool once we have owned the property for the entirety of the comparable periods and the property is not under significant development or redevelopment. The Company has also provided disclosure of NOI on a same-property basis adjusted to include redevelopment properties. Same-property NOI may include other adjustments as detailed in the Reconciliation of Net Income to NOI and same-property NOI included in the tables accompanying this press release. EBITDAre and Adjusted EBITDAre: EBITDAre and Adjusted EBITDAre are supplemental, non-GAAP measures utilized by us in various financial ratios. The White Paper on EBITDAre, approved by Nareit's Board of Governors in September 2017, defines EBITDAre as net income (computed in accordance with GAAP), adjusted for interest expense, income tax (benefit) expense, depreciation and amortization, losses and gains on the disposition of depreciated property, impairment write-downs of depreciated property and investments in unconsolidated joint ventures, and adjustments to reflect the entity's share of EBITDAre of unconsolidated joint ventures. EBITDAre and Adjusted EBITDAre are presented to assist investors in the evaluation of REITs, as a measure of the Company's operational performance as they exclude various items that do not relate to or are not indicative of our operating performance and because they approximate key performance measures in our debt covenants. Accordingly, the Company believes that the use of EBITDAre and Adjusted EBITDAre, as opposed to income before income taxes, in various ratios provides meaningful performance measures related to the Company's ability to meet various coverage tests for the stated periods. Adjusted EBITDAre may include other adjustments not indicative of operating results as detailed in the Reconciliation of Net Income to EBITDAre and Adjusted EBITDAre included in the tables accompanying this press release. The Company also presents the ratio of net debt (net of cash) to annualized Adjusted EBITDAre as of March 31, 2026, and net debt (net of cash) to total market capitalization, which it believes is useful to investors as a supplemental measure in evaluating the Company's balance sheet leverage. The Company believes net income is the most directly comparable GAAP financial measure to the non-GAAP performance measures outlined above. Reconciliations of these measures to net income have been provided in the tables accompanying this press release. Operating Metrics The Company presents certain operating metrics related to our properties, including occupancy, leasing activity and rental rates. Operating metrics used by the Company are useful to investors in facilitating an understanding of the operational performance for our properties. Recovery ratios represent the percentage of operating expenses recuperated through tenant reimbursements. This metric is presented on a same-property and same-property including redevelopment basis and is calculated by dividing tenant expense reimbursements (adjusted to exclude any ancillary income) by the sum of real estate taxes and property operating expenses. Occupancy metrics represent the percentage of occupied gross leasable area based on executed leases (including properties in development and redevelopment) and include leases signed, but for which rent has not yet commenced. Same-property portfolio leased occupancy includes properties that have been owned and operated for the entirety of the reporting periods being compared, which total 66 properties for the three months ended March 31, 2026 and 2025. Occupancy metrics presented for the Company's same-property portfolio exclude properties under development, redevelopment or that involve anchor repositioning where a substantial portion of the gross leasable area is taken out of service and also excludes properties acquired within the past 12 months or properties sold, and properties that are in the foreclosure process during the periods being compared. Executed new leases, renewals and exercised options are presented on a same-space basis. Same-space leases represent those leases signed on spaces for which there was a previous lease. The Company occasionally provides disclosures by tenant categories which include anchors, shops and industrial/self-storage. Anchors and shops are further broken down by local, regional and national tenants. We define anchor tenants as those who have a leased area of >10,000 sf. Local tenants are defined as those with less than five locations. Regional tenants are those with five or more locations in a single region. National tenants are defined as those with five or more locations and that operate in two or more regions. ADDITIONAL INFORMATION For a copy of the Company’s supplemental disclosure package, please access the "Investors" section of our website at www.uedge.com. Our website also includes other financial information, including our Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any amendments to those reports. The Company uses, and intends to continue to use, the "Investors" page of its website, which can be found at www.uedge.com, as a means of disclosing material nonpublic information and of complying with its disclosure obligations under Regulation FD, including, without limitation, through the posting of investor presentations that may include material nonpublic information. Accordingly, investors should monitor the "Investors" page, in addition to following the Company's press releases, SEC filings, public conference calls, presentations and webcasts. The information contained on, or that may be accessed through, our website is not incorporated by reference into, and is not a part of, this document. ABOUT URBAN EDGE Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, D.C. to Boston corridor. Urban Edge owns 74 properties totaling 17.3 million square feet of gross leasable area. FORWARD-LOOKING STATEMENTS Certain statements contained herein constitute forward-looking statements as such term is defined in Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements are not guarantees of future performance. They represent our intentions, plans, expectations and beliefs and are subject to numerous assumptions, risks and uncertainties. Our future results, financial condition, business and targeted occupancy may differ materially from those expressed in these forward-looking statements. You can identify many of these statements by words such as "approximates," "believes," "expects," "anticipates," "estimates," "intends," "plans," "would," "may" or other similar expressions in this press release. Many of the factors that will determine the outcome of forward-looking statements are beyond our ability to control or predict and include, among others: (i) macroeconomic conditions, including geopolitical conditions and instability, and international trade disputes, including any related tariffs, which may lead to rising inflation, adverse impacts to supply chains, and disruption of, or lack of access to, the capital markets, as well as potential volatility in the Company’s share price; (ii) the economic, political and social impact of, and uncertainty relating to, epidemics and pandemics; (iii) the loss or bankruptcy of major tenants; (iv) the ability and willingness of the Company’s tenants to renew their leases with the Company upon expiration and the Company’s ability to re-lease its properties on the same or better terms, or at all, in the event of non-renewal or in the event the Company exercises its right to replace an existing tenant; (v) the impact of e-commerce on our tenants’ business; (vi) the Company’s success in implementing its business strategy and its ability to identify, underwrite, finance, consummate and integrate diversifying acquisitions and investments; (vii) changes in general economic conditions or economic conditions in the markets in which the Company competes, and their effect on the Company’s revenues, earnings and funding sources, and on those of its tenants; (viii) increases in the Company’s borrowing costs as a result of changes in interest rates, rising inflation, and other factors; (ix) the Company’s ability to pay down, refinance, hedge, restructure or extend its indebtedness as it becomes due and potential limitations on the Company’s ability to borrow funds under its existing credit facility as a result of covenants relating to the Company’s financial results; (x) potentially higher costs associated with the Company’s development, redevelopment and anchor repositioning projects, and the Company’s ability to lease the properties at projected rates; (xi) the Company’s liability for environmental matters; (xii) damage to the Company’s properties from catastrophic weather and other natural events, and the physical effects of climate change; (xiii) the Company’s ability and willingness to maintain its qualification as a REIT in light of economic, market, legal, tax and other considerations; (xiv) information technology security breaches; (xv) the loss of key executives; and (xvi) the accuracy of methodologies and estimates regarding our environmental, social and governance (collectively, our Corporate Responsibility or "CR") metrics, goals and targets, tenant willingness and ability to collaborate towards reporting CR metrics and meeting CR goals and targets, and the impact of governmental regulation on our CR efforts. For further discussion of factors that could materially affect the outcome of our forward-looking statements, see "Risk Factors" in Part I, Item 1A, of the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and the other documents filed by the Company with the Securities and Exchange Commission (the "SEC"). We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for any forward-looking statements included in this press release. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of this press release. All subsequent written and oral forward-looking statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. We do not undertake any obligation to release publicly any revisions to our forward-looking statements to reflect events or circumstances occurring after the date of this press release. Reconciliation of Net Income to FFO and FFO as Adjusted The following table reflects the reconciliation of net income to FFO and FFO as Adjusted for the three months ended March 31, 2026 and 2025. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 6 for a description of FFO and FFO as Adjusted. Reconciliation of Net Income to NOI and Same-Property NOI The following table reflects the reconciliation of net income to NOI, same-property NOI and same-property NOI including properties in redevelopment for the three months ended March 31, 2026 and 2025. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 6 for a description of NOI and same-property NOI. Reconciliation of Net Income to EBITDAre and Adjusted EBITDAre The following table reflects the reconciliation of net income to EBITDAre and Adjusted EBITDAre for the three months ended March 31, 2026 and 2025. Net income is considered the most directly comparable GAAP measure. Refer to "Non-GAAP Financial Measures" on page 6 for a description of EBITDAre and Adjusted EBITDAre. View source version on businesswire.com: https://www.businesswire.com/news/home/20260429684004/en/ Contacts For additional information: Mark Langer, EVP and Chief Financial Officer 212-956-0082