Urban Edge Properties (NYSE: UE) reported its financial results for the third quarter and nine months ended September 30, 2025, showcasing a significant increase in both revenue and net income compared to the same period last year. The company generated total revenue of $120.1 million for the third quarter, up from $112.4 million in the prior year, marking a 6.9% increase. For the nine-month period, revenue rose to $352.4 million from $328.6 million, reflecting a 7.2% increase. Net income for the third quarter was $15.5 million, compared to $9.5 million in the same quarter of 2024, while net income for the nine months reached $84.7 million, up from $43.9 million.
The company’s performance was bolstered by a $4.4 million increase in property rentals and tenant reimbursements, attributed to rent commencements and contractual rent increases. Additionally, non-cash revenues increased by $3.7 million due to accelerated amortization of below-market lease intangibles. Urban Edge also recognized a gain of $49.7 million on the sale of real estate during the nine months, primarily from the sale of two non-core properties and one property parcel. This contrasts with a gain of $15.3 million in the same period last year.
In terms of operational metrics, Urban Edge's portfolio consisted of 68 shopping centers, two outlet centers, and two malls, totaling approximately 17.1 million square feet of gross leasable area, with a consolidated occupancy rate of 89.8%. The company reported a same-property net operating income (NOI) increase of 4.1% for the third quarter and 4.6% for the nine months, indicating stable performance across its existing properties. The company’s total assets as of September 30, 2025, were valued at $3.33 billion, a slight increase from $3.31 billion at the end of 2024.
Strategically, Urban Edge did not complete any acquisitions during the nine months ended September 30, 2025, but it did dispose of two properties and one property parcel, generating proceeds of $64.5 million. The company is under contract to sell a parcel of its Sunrise Mall property for $75.9 million, subject to closing conditions. Additionally, Urban Edge has 22 active development, redevelopment, or anchor repositioning projects with total estimated costs of $149.1 million, of which $72.5 million remains to be funded.
Looking ahead, Urban Edge Properties remains focused on maintaining its REIT status and optimizing its portfolio through strategic acquisitions and dispositions. The company has an $800 million revolving credit agreement, with no outstanding balance as of September 30, 2025, providing ample liquidity to support its operational and capital needs. The management anticipates continued growth driven by effective property management and strategic investments, while also navigating potential market challenges such as inflation and interest rate fluctuations.
About Urban Edge Properties
Urban Edge Properties is a Maryland REIT specializing in owning, managing, acquiring, developing, and redeveloping retail real estate primarily along the Washington, D.C. to Boston corridor. Its portfolio includes shopping centers, outlet centers, and malls, focusing on high-demand urban markets. The company emphasizes proactive asset management, redevelopment, and sustainable practices to generate value, support communities, and maintain competitive advantages in the retail real estate sector.
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