Quarterly ResultApr 29, 2026, 07:02 AM
UE Q1 Net Income $22.6M, FFO $0.42/share; Raises FFO as Adj. Guidance
AI Summary
Urban Edge Properties reported strong first-quarter 2026 results with net income attributable to common shareholders increasing to $22.6 million, or $0.18 per diluted share, and FFO rising to $0.42 per diluted share. The company executed 419,000 square feet of leasing transactions, including new leases at a 51.6% cash spread, and acquired The Village at Bridgewater Commons for $54.3 million. UE also updated its full-year 2026 guidance, raising the low end of its FFO as Adjusted range to $1.48-$1.52 per diluted share, reflecting continued portfolio strength and external growth.
Key Highlights
- Net income attributable to common shareholders increased to $22.6 million in Q1 2026 from $8.2 million in Q1 2025.
- FFO per diluted share rose to $0.42 in Q1 2026 from $0.35 in Q1 2025.
- Executed 419,000 sf of leasing, with new leases achieving a 51.6% average cash spread.
- Acquired The Village at Bridgewater Commons for $54.3 million at a 7.7% capitalization rate.
- Raised the low end of 2026 FFO as Adjusted guidance to $1.48-$1.52 per diluted share.
- Total liquidity was approximately $968 million as of March 31, 2026.
- Same-property Net Operating Income (NOI) growth was 2.4% for the quarter.