Urban Edge Properties Q4 Adj. FFO Declines

(RTTNews) - Urban Edge Properties (UE) reported that its fourth quarter funds from operations increased to $45.68 million from $38.83 million, prior year. FFO per share was $0.37 compared to $0.32. FFO as adjusted declined to $37.92 million from $40.58 million. FFO as adjusted per share was $0.31 compared to $0.33.

Net income attributable to common shareholders increased to $221.23 million from $13.67 million, last year. Net income per share was $1.88 compared to $0.12. Total revenue increased to $116.58 million from $101.59 million, last year.

For full-year 2024, the company expects: net income of $0.12 to $0.17 per share, FFO of $1.20 to $1.25 per share, and FFO as adjusted of $1.24 to $1.29 per share.

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