Urban Edge Properties's income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), Urban Edge Properties reported revenue of $471.9M (+6.1% year on year) and net income of $97.5M (+29.3% year on year).
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Revenues from contract with customer | $471.9M | $445.0M | $416.9M | $397.9M |
| Revenues | $471.9M | $445.0M | $416.9M | $397.9M |
| Depreciation and amortization | $139.2M | $150.4M | $109.0M | $98.4M |
| Real estate taxes | $66.4M | $68.7M | $64.9M | $61.9M |
| Property operating | $86.4M | $78.8M | $68.6M | $74.3M |
| General and administrative | $40.0M | $37.5M | $37.1M | $43.1M |
| Real estate impairment loss | $0 | $0 | $34.1M | — |
| Lease expense | $13.2M | $13.2M | $12.6M | $12.5M |
| Other expense | $349.0K | — | — | — |
| Total expenses | $345.5M | $348.5M | $326.2M | $290.2M |
| Gain on sale of real estate | $49.7M | $38.8M | $217.7M | $353.0K |
| Interest income | $2.8M | $2.7M | $3.0M | $1.1M |
| Interest and debt expense | ($78.2M) | ($81.6M) | ($74.9M) | ($59.0M) |
| Gain (loss) on extinguishment of debt | ($534.0K) | $21.4M | $41.1M | $0 |
| Income before income taxes | $100.1M | $77.8M | $277.7M | $50.2M |
| Income tax expense | ($2.6M) | ($2.4M) | ($17.8M) | ($2.9M) |
| Net income (loss) attributable to common shareholders | $93.5M | $72.6M | $248.5M | $46.2M |
| Earnings per common share - Basic (in dollars per share) | $0.74 | $0.60 | $2.11 | $0.39 |
| Earnings per common share - Diluted (in dollars per share) | $0.74 | $0.60 | $2.11 | $0.39 |
| Weighted average shares outstanding - Basic (in shares) | 125.7M | 121.3M | 117.5M | 117.4M |
| Weighted average shares outstanding - Diluted (in shares) | 125.9M | 121.4M | 117.6M | 121.6M |
| Net income | $97.5M | $75.4M | $259.9M | $47.3M |
| Effective portion of change in fair value of derivatives | ($928.0K) | ($301.0K) | ($179.0K) | $656.0K |
| Comprehensive income | $96.6M | $75.1M | $259.7M | $48.0M |
| Operating partnership | $48.0K | $18.0K | $10.0K | ($27.0K) |
| Operating partnership | ($5.0M) | ($4.0M) | ($11.9M) | ($1.9M) |
| Consolidated subsidiaries | $1.0M | $1.1M | $520.0K | $726.0K |
| Comprehensive income attributable to common shareholders | $92.7M | $72.3M | $248.3M | $46.8M |
| Line item | Jun 30, 2026 · Q2 | Mar 31, 2026 · Q1 | Sep 30, 2025 · Q3 | Jun 30, 2025 · Q2 |
|---|---|---|---|---|
| Revenues | $122.8M | $132.6M | $120.1M | $114.1M |
| Total revenue | $122.8M | $132.6M | $120.1M | $114.1M |
| Depreciation and amortization | $35.0M | $32.3M | $36.8M | $32.6M |
| Real estate taxes | $16.9M | $16.6M | $16.8M | $16.6M |
| Property operating | $19.3M | $28.9M | $18.1M | $17.5M |
| General and administrative | $9.7M | $9.1M | $9.0M | $11.7M |
| Lease expense | $3.3M | $3.2M | $3.3M | $3.3M |
| Total expenses | $84.2M | $90.2M | $85.7M | $83.1M |
| Gain on sale of real estate | $0 | — | $233.0K | $49.5M |
| Interest income | $599.0K | $393.0K | $824.0K | $667.0K |
| Interest and debt expense | ($19.8M) | ($18.7M) | ($19.4M) | ($19.5M) |
| (Loss) gain on extinguishment of debt | $0 | ($212.0K) | $0 | ($175.0K) |
| Income before income taxes | $19.4M | $23.9M | $16.1M | $61.4M |
| Income tax expense | ($749.0K) | ($378.0K) | ($600.0K) | ($643.0K) |
| Net income | $18.6M | $23.5M | $15.5M | $60.8M |
| Operating partnership | ($930.0K) | ($1.2M) | ($836.0K) | ($3.1M) |
| Consolidated subsidiaries | $205.0K | $275.0K | $230.0K | $243.0K |
| Net income (loss) attributable to common shareholders | $17.9M | $22.6M | $14.9M | $58.0M |
| Earnings (loss) per common share - Basic (in dollars per share) | $0.14 | $0.18 | $0.12 | $0.46 |
| Earnings (loss) per common share - Diluted (in dollars per share) | $0.14 | $0.18 | $0.12 | $0.46 |
| Weighted average shares outstanding - Basic (in shares) | 126.1M | 125.9M | 125.7M | 125.7M |
| Weighted average shares outstanding - Diluted (in shares) | 131.7M | 131.1M | 125.8M | 125.8M |
| Effective portion of change in fair value of derivatives | $1.9M | $1.1M | ($578.0K) | ($198.0K) |
| Comprehensive income | $20.6M | $24.6M | $15.0M | $60.6M |
| Less comprehensive income (loss) attributable to NCI in Operating partnership | ($107.0K) | ($55.0K) | $30.0K | $10.0K |
| Less net (income) loss attributable to NCI in Operating partnership | ($930.0K) | ($1.2M) | ($836.0K) | ($3.1M) |
| Less net (income) loss attributable to NCI in Consolidated subsidiaries | $205.0K | $275.0K | $230.0K | $243.0K |
| Comprehensive income attributable to common shareholders | $19.8M | $23.6M | $14.4M | $57.8M |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Land | $669.1M | $660.2M | $635.9M | $535.8M |
| Buildings and improvements | $2.8B | $2.8B | $2.7B | $2.5B |
| Construction in progress | $327.4M | $289.1M | $262.3M | $314.2M |
| Furniture, fixtures and equipment | $13.1M | $11.3M | $9.9M | $8.5M |
| Total | $3.8B | $3.8B | $3.6B | $3.3B |
| Accumulated depreciation and amortization | ($935.5M) | ($886.9M) | ($819.2M) | ($791.5M) |
| Real estate, net | $2.9B | $2.9B | $2.8B | $2.5B |
| Operating lease right-of-use assets | $58.9M | $65.5M | $57.0M | $64.2M |
| Cash and cash equivalents | $48.9M | $41.4M | $101.1M | $85.5M |
| Restricted cash | $30.0M | $49.3M | $73.1M | $43.3M |
| Tenant and other receivables | $26.7M | $20.7M | $14.7M | $17.5M |
| Receivables arising from the straight-lining of rents | $63.8M | $61.2M | $60.8M | $64.7M |
| Identified intangible assets, net of accumulated amortization of $70,514 and $65,027, respectively | $87.6M | $109.8M | $113.9M | $62.9M |
| Deferred leasing costs, net of accumulated amortization of $21,982 and $22,488, respectively | $31.2M | $27.8M | $27.7M | $26.8M |
| Prepaid expenses and other assets | $55.2M | $70.6M | $64.6M | $77.2M |
| Total assets | $3.3B | $3.3B | $3.3B | $3.0B |
| Mortgages payable, net | $1.6B | $1.6B | $1.6B | $1.7B |
| Unsecured credit facility | $0 | $50.0M | $153.0M | — |
| Operating lease liabilities | $56.3M | $62.6M | $53.9M | $59.8M |
| Accounts payable, accrued expenses and other liabilities | $97.4M | $90.0M | $103.0M | $102.5M |
| Identified intangible liabilities, net of accumulated amortization of $59,668 and $50,275, respectively | $174.9M | $177.5M | $170.4M | $93.3M |
| Total liabilities | $1.9B | $1.9B | $2.1B | $1.9B |
| Common shares: $0.01 par value; 500,000,000 shares authorized and 125,912,647 and 125,450,684 shares issued and outstanding, respectively | 1.3M | 1.3M | 1.2M | 1.2M |
| Additional paid-in capital | $1.2B | $1.1B | $1.0B | $1.0B |
| Accumulated other comprehensive (loss) income | ($703.0K) | $177.0K | $460.0K | $629.0K |
| Accumulated earnings | $124.6M | $126.7M | $137.1M | ($36.1M) |
| Operating partnership | $69.1M | $65.1M | $55.4M | $39.2M |
| Consolidated subsidiaries | $18.3M | $18.6M | $15.4M | $13.9M |
| Total equity | $1.4B | $1.4B | $1.2B | $1.0B |
| Total liabilities and equity | $3.3B | $3.3B | $3.3B | $3.0B |
| Line item | Jun 30, 2026 | Mar 31, 2026 | Sep 30, 2025 | Jun 30, 2025 |
|---|---|---|---|---|
| Land | $669.5M | $676.0M | $647.6M | $648.9M |
| Buildings and improvements | $2.9B | $2.9B | $2.8B | $2.8B |
| Construction in progress | $382.0M | $358.9M | $300.4M | $292.7M |
| Furniture, fixtures and equipment | $14.0M | $13.5M | $12.9M | $12.6M |
| Total | $3.9B | $3.9B | $3.8B | $3.8B |
| Accumulated depreciation and amortization | ($964.9M) | ($956.5M) | ($923.8M) | ($906.2M) |
| Real estate, net | $3.0B | $3.0B | $2.9B | $2.9B |
| Operating lease right-of-use assets | $55.6M | $57.2M | $60.5M | $62.1M |
| Cash and cash equivalents | $58.3M | $50.0M | $77.8M | $53.0M |
| Restricted cash | $23.9M | $25.9M | $67.0M | $65.2M |
| Tenant and other receivables | $26.3M | $33.9M | $24.2M | $25.3M |
| Receivables arising from the straight-lining of rents | $62.8M | $64.2M | $62.9M | $62.2M |
| Identified intangible assets, net of accumulated amortization of $71,193 and $70,514, respectively | $85.2M | $91.1M | $87.3M | $95.1M |
| Deferred leasing costs, net of accumulated amortization of $22,018 and $21,982, respectively | $29.4M | $31.2M | $31.0M | $30.4M |
| Prepaid expenses and other assets | $80.7M | $64.8M | $58.0M | $58.3M |
| Total assets | $3.4B | $3.4B | $3.3B | $3.3B |
| Mortgages payable, net | $1.6B | $1.7B | $1.6B | $1.5B |
| Unsecured line of credit | $55.0M | $30.0M | $0 | $90.0M |
| Operating lease liabilities | $53.2M | $54.7M | $57.8M | $59.4M |
| Accounts payable, accrued expenses and other liabilities | $108.8M | $83.8M | $88.8M | $85.9M |
| Identified intangible liabilities, net of accumulated amortization of $58,036 and $59,668, respectively | $157.1M | $173.8M | $163.7M | $171.4M |
| Total liabilities | $2.0B | $2.0B | $1.9B | $1.9B |
| Common shares: $0.01 par value; 500,000,000 shares authorized and 126,224,466 and 125,912,647 shares issued and outstanding, respectively | 1.3M | 1.3M | 1.3M | 1.3M |
| Additional paid-in capital | $1.2B | $1.2B | $1.2B | $1.2B |
| Accumulated other comprehensive income (loss) | $2.1M | $299.0K | ($738.0K) | ($190.0K) |
| Accumulated earnings | $112.2M | $120.8M | $136.1M | $145.0M |
| Operating partnership | $74.0M | $74.5M | $69.8M | $68.6M |
| Consolidated subsidiaries | $19.3M | $19.5M | $18.6M | $18.3M |
| Total equity | $1.4B | $1.4B | $1.4B | $1.4B |
| Total liabilities and equity | $3.4B | $3.4B | $3.3B | $3.3B |
| Line item | Dec 31, 2025 · FY | Dec 31, 2024 · FY | Dec 31, 2023 · FY | Dec 31, 2022 · FY |
|---|---|---|---|---|
| Net income | $97.5M | $75.4M | $259.9M | $47.3M |
| Depreciation and amortization | $139.5M | $155.0M | $112.8M | $100.8M |
| Gain on sale of real estate | ($49.7M) | ($38.8M) | ($217.7M) | ($353.0K) |
| Amortization of above and below market leases, net | ($15.1M) | ($9.7M) | ($11.6M) | ($6.7M) |
| Amortization of lease incentives | $387.0K | — | — | — |
| Noncash lease expense | $6.6M | $7.3M | $6.6M | $7.1M |
| Straight-lining of rent | ($2.8M) | ($2.6M) | ($3.7M) | ($2.0M) |
| Share-based compensation expense | $11.8M | $10.4M | $7.8M | $10.5M |
| Real estate impairment loss | $0 | $0 | $34.1M | $0 |
| Loss (gain) on extinguishment of debt | $534.0K | ($21.4M) | ($41.1M) | $0 |
| Amortization of deferred financing costs and premiums/discounts on debt obligations | $5.7M | — | — | — |
| Tenant and other receivables | ($6.0M) | ($6.0M) | $2.8M | ($1.7M) |
| Deferred leasing costs | ($8.3M) | ($6.4M) | ($8.1M) | ($8.7M) |
| Prepaid and other assets | $1.8M | $349.0K | $12.4M | $854.0K |
| Lease liabilities | ($6.3M) | ($7.1M) | ($6.3M) | ($6.6M) |
| Accounts payable, accrued expenses and other liabilities | $7.0M | ($3.4M) | $15.2M | ($853.0K) |
| Net cash provided by operating activities | $182.7M | $153.2M | $163.0M | $139.6M |
| Real estate development and capital improvements | ($100.9M) | ($110.6M) | ($115.7M) | ($116.0M) |
| Acquisitions of real estate | ($39.2M) | ($184.5M) | ($314.9M) | ($36.2M) |
| Proceeds from sale of real estate | $64.5M | $60.4M | $312.9M | $353.0K |
| Net cash used in investing activities | ($75.6M) | ($234.7M) | ($117.7M) | ($151.9M) |
| Proceeds from mortgage loan borrowings | $123.6M | $211.0M | $469.7M | $103.4M |
| Debt repayments | ($213.8M) | ($387.4M) | ($693.9M) | ($98.3M) |
| Borrowings under unsecured credit facility | $75.0M | $125.0M | $309.0M | — |
| Distributions paid to partners | ($100.9M) | ($87.3M) | $78.4M | $78.2M |
| Dividends paid to common shareholders | ($95.5M) | ($82.9M) | ($75.2M) | ($75.1M) |
| Distributions paid to redeemable noncontrolling interests | ($5.3M) | ($4.4M) | ($3.2M) | ($3.1M) |
| Taxes withheld for vested restricted shares | -273.0K | -195.0K | -119.0K | -129.0K |
| Debt issuance costs | ($2.8M) | ($4.1M) | ($8.5M) | ($7.3M) |
| Proceeds related to the issuance of common shares, net | -419.0K | 136.6M | 372.0K | 382.0K |
| Contributions from noncontrolling interests | $716.0K | $4.3M | $2.0M | $1.7M |
| Net cash (used in) provided by financing activities | ($118.9M) | ($2.1M) | $161.0K | ($78.8M) |
| Net (decrease) increase in cash and cash equivalents and restricted cash | ($11.8M) | ($83.6M) | $45.5M | ($91.1M) |
| Cash and cash equivalents and restricted cash at beginning of year | $90.6M | $174.2M | $128.8M | $219.8M |
| Cash and cash equivalents and restricted cash at end of year | $78.9M | $90.6M | $174.2M | $128.8M |
| Cash payments for interest net of amounts capitalized | $72.5M | $80.7M | $69.0M | $55.7M |
| Cash payments for income taxes | $866.0K | $9.9M | $52.0K | $913.0K |
| Mortgage debt modification | $80.2M | — | — | — |
| Write-off of fully depreciated and impaired assets | $41.4M | $17.2M | $42.0M | $8.7M |
| Accrued capital expenditures included in accounts payable and accrued expenses | $23.7M | $16.1M | $21.6M | $34.7M |
| Issuance of LTIP units | $5.5M | — | — | — |
| Assumption of debt through acquisition of real estate, net of debt mark-to-market | $0 | $54.9M | — | $0 |
| Assignment of debt through disposition of real estate | $0 | $44.5M | — | — |
| Mortgage debt forgiven | $0 | $0 | $44.1M | $0 |
| Transfer of assets held for sale included in prepaid expenses and other assets | $0 | $10.3M | — | — |
| Line item | Jun 30, 2026 · YTD | Mar 31, 2026 · Q1 | Sep 30, 2025 · YTD | Jun 30, 2025 · YTD |
|---|---|---|---|---|
| Net income | $42.2M | $23.5M | $84.7M | $69.2M |
| Depreciation and amortization | $67.4M | $32.4M | $111.1M | $72.8M |
| Gain on sale of real estate | $0 | — | ($49.7M) | ($49.5M) |
| Loss (gain) on extinguishment of debt | $212.0K | $212.0K | ($323.0K) | ($323.0K) |
| Amortization of deferred financing costs and premiums/discounts on debt obligations | $3.1M | $1.5M | — | — |
| Amortization of above and below market leases, net | ($7.3M) | ($2.6M) | ($12.2M) | ($5.0M) |
| Amortization of Lease Incentive | $208.0K | $106.0K | — | — |
| Noncash lease expense | $3.3M | $1.7M | $5.0M | $3.4M |
| Straight-lining of rent | ($608.0K) | ($362.0K) | ($1.9M) | ($1.2M) |
| Share-based compensation expense | $6.6M | $3.7M | $9.0M | $6.3M |
| Rental revenue deemed uncollectible | $2.7M | $2.8M | — | — |
| Tenant and other receivables | ($2.3M) | ($10.0M) | ($3.6M) | ($4.6M) |
| Deferred leasing costs | ($2.5M) | ($1.8M) | ($6.8M) | ($5.1M) |
| Prepaid expenses and other assets | $3.1M | ($2.0M) | $902.0K | ($567.0K) |
| Lease liabilities | ($3.2M) | ($1.6M) | ($4.8M) | ($3.2M) |
| Accounts payable, accrued expenses and other liabilities | ($6.9M) | ($8.3M) | $209.0K | ($6.2M) |
| Net cash provided by operating activities | $105.8M | $39.1M | $131.7M | $76.0M |
| Real estate development and capital improvements | ($83.2M) | ($40.5M) | ($74.1M) | ($44.5M) |
| Acquisitions of real estate | ($54.3M) | ($54.3M) | ($1.5M) | $0 |
| Acquisitions of leasehold interest | ($10.7M) | — | — | — |
| Proceeds from sale of real estate | $0 | — | $64.5M | $64.4M |
| Net cash (used in) provided by investing activities | ($148.2M) | ($94.8M) | ($11.1M) | $19.8M |
| Proceeds from mortgage loan borrowings | $62.5M | $62.5M | $123.6M | $0 |
| Borrowings from unsecured line of credit | $55.0M | $30.0M | $75.0M | $75.0M |
| Contributions from noncontrolling interests | $1.5M | $1.5M | $716.0K | $204.0K |
| (Costs) proceeds related to the issuance of common shares | -76.0K | -127.0K | -410.0K | 15.0K |
| Taxes withheld for vested restricted shares | -281.0K | -281.0K | -273.0K | -273.0K |
| Distributions to partners | ($56.6M) | ($28.6M) | ($75.8M) | ($50.6M) |
| Distributions to redeemable noncontrolling interests | ($3.6M) | ($2.2M) | ($4.1M) | ($2.9M) |
| Debt issuance costs | ($8.2M) | ($8.2M) | ($2.8M) | ($20.0K) |
| Debt repayments | ($8.2M) | ($4.1M) | ($186.5M) | ($92.6M) |
| Dividends to common shareholders | ($52.9M) | ($26.4M) | ($71.6M) | ($47.8M) |
| Net cash provided by (used in) financing activities | $45.7M | $52.7M | ($66.4M) | ($68.3M) |
| Net increase in cash and cash equivalents and restricted cash | $3.3M | ($3.0M) | $54.2M | $27.6M |
| Cash and cash equivalents and restricted cash at beginning of period | $78.9M | $78.9M | $90.6M | $90.6M |
| Cash and cash equivalents and restricted cash at end of period | $82.1M | $75.9M | $144.8M | $118.2M |
| Cash payments for interest, net of amounts capitalized of $7,472 and $5,772, respectively | $35.1M | $17.1M | $54.4M | $36.8M |
| Cash payments for income taxes | $492.0K | $9.0K | $731.0K | $597.0K |
| Accrued capital expenditures included in accounts payable and accrued expenses | $17.1M | $23.2M | $21.6M | $25.2M |
| Write-off of fully depreciated assets | $10.0M | $5.7M | $38.6M | $28.9M |
| Issuance of LTIP Units | $3.9M | $3.9M | $5.5M | $5.5M |
| Issuance of note receivable used as capital contribution from non-controlling interests | $3.8M | — | — | — |
| Transfer of assets held for sale included in prepaid expenses and other assets | $19.5M | — | $0 | — |
| Transfer of liabilities held for sale included in accounts payable, accrued expenses and other liabilities | ($29.2M) | — | $0 | — |
| Cash and cash equivalents at beginning of period | $48.9M | $48.9M | $41.4M | $41.4M |
Urban Edge Properties score and earnings-call analysis · All covered companies
Figures as reported in SEC filings. General information, not investment advice.