Urban Edge Properties Sees Record Leasing Activity in Q4

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Urban Edge Properties ($NYSE:UE) (UEP) saw a record level of leasing activity in the fourth quarter of the year. The company is one of the largest publicly traded real estate investment trusts (REITs) in the United States and is focused on investing in value-oriented shopping centers, primarily in the New York metropolitan area. In the fourth quarter, UEP achieved a record level of leasing activity, exceeding its already strong performance in the previous quarter. The company was able to secure deals for new tenants, retain existing tenants, and increase rental rates on existing leases.

UEP’s strong financial position and commitment to its tenants enabled it to capitalize on the opportunity to lease new tenants into its properties during this period. The company is well-positioned to continue to benefit from the strong demand for its properties due to its strategic location and quality assets. This record level of leasing activity reflects the continued success of UEP’s business model and demonstrates the company’s ability to deliver value to its shareholders.

Share Price

The company’s stock opened at $18.1 and closed at $18.0, down by 1.6% from prior closing price of 18.2. Despite the slight drop, it was still a strong quarter for the firm as it achieved record leasing activity. This demonstrates the strength of the firm’s portfolio of properties and the success of its leasing strategy. It is expected that this trend of positive performance will be reflected in UEP’s upcoming financial reports. Live Quote…

About the Company

Income Snapshot

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Cash Flow Snapshot

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Balance Sheet Snapshot

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Key Ratios Snapshot

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Analysis

GoodWhale has conducted an analysis of URBAN EDGE PROPERTIES wellbeing. According to Star Chart, URBAN EDGE PROPERTIES is classified as a ‘cow’, a type of company with a track record of paying out consistent and sustainable dividends. Our analysis reveals that URBAN EDGE PROPERTIES is strong in dividends, medium in asset, profitability and growth. It has an intermediate health score of 5/10 with regard to its cashflows and debt, indicating that it might be able to sustain future operations in times of crisis. More…

Peers

Urban Edge Properties is a publicly traded real estate investment trust that owns, operates, and develops retail real estate in the United States. The company’s portfolio of properties is located primarily in New York City, Boston, and Washington, D.C.

Urban Edge Properties’ competitors include Saul Centers Inc, Lippo Malls Indonesia Retail Trust, and One Liberty Properties Inc.

– Saul Centers Inc ($NYSE:BFS)

Saul Centers Inc is a real estate investment trust that owns, operates, and redevelops community shopping centers in the United States. The company’s market cap is $891.71 million as of 2022. Saul Centers was founded in 1968 and is headquartered in Bethesda, Maryland. The company’s portfolio includes 69 shopping centers and 27 office buildings.

– Lippo Malls Indonesia Retail Trust ($SGX:D5IU)

Lippo Malls Indonesia Retail Trust (LMIRT) is a real estate investment trust that focuses on investing in retail properties in Indonesia. LMIRT’s portfolio comprises of 19 shopping malls and 3 office buildings with a total net lettable area of approximately 1.4 million square meters. The trust is managed by Lippo Malls Indonesia Management Limited, a wholly-owned subsidiary of PT Lippo Malls Indonesia.

As of December 31, 2020, LMIRT had a total market capitalization of approximately S$230.9 million. The trust’s portfolio is diversified across various Indonesian cities, including Jakarta, Surabaya, and Bali. LMIRT’s properties are well-positioned in prime locations with strong catchment areas. The trust’s strategy is to generate stable and sustainable distributions to unitholders by focusing on operational excellence and active asset management.

– One Liberty Properties Inc ($NYSE:OLP)

One Liberty Properties, Inc. is a publicly traded real estate investment trust that owns, manages, acquires, finances and redevelops a geographically diversified portfolio of industrial, retail, restaurant, office, theater and other properties.

Summary

This strong performance was driven by increased demand from e-commerce, grocery and other essential retailers.