Short answer
Urban Edge Properties (UE) filed its fiscal 2025 10-K annual report with the SEC on Feb 11, 2026. It reported revenue of $472M (+6.1% year over year) and net income of $94M.
- Top risk flagged: Regulatory risk from loan modification under commercial mortgage-backed securities, including $1.0 million loss on Shops at Caguas loan modification
FY2025 key financial metrics · XBRL
- Revenue
- $472M
- +6.1% YoY
- Net income
- $94M
- +28.9% YoY
- EPS (diluted)
- $0.74
- +23.3% YoY
- ROE
- 6.8%
- +1.5 pp YoY
- Operating cash flow
- $183M
- +19.3% YoY
Source: XBRL data from the Urban Edge Properties (UE) FY2025 10-K on SEC EDGAR. USD.
Urban Edge Properties FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: Ownership, management, acquisition, development, and redevelopment of retail real estate
- Portfolio includes 69 shopping centers, 2 outlet centers, and 2 malls totaling 17.2 million sf gross leasable area
- Consolidated occupancy rate at 90.1%, reflecting portfolio utilization
- Primary geographic focus on Washington, D.C. to Boston corridor
- Filing emphasizes structure with Urban Edge Properties LP as majority-owned subsidiary holding all assets
Management Discussion & Analysis
- Same-property NOI $241.6M, up 4.3% YoY; including redevelopment properties $267.1M, up 5.0% YoY
- Net income $97.5M vs $75.4M, FFO stable at $186.4M vs $186.7M; NOI $289.6M vs $273.3M
- Best segment: same-property NOI growth $10.0M (+4.3%); no distinct worst segment detailed
- Dividends $0.76/share annually; unsecured line of credit $800M, $0 drawn, amended to $700M with $250M new term loans
- Management extended credit facility maturity to 2030; maintaining REIT status and liquidity focus; risks include tenant payment ability and market conditions
Risk Factors
- Regulatory risk from loan modification under commercial mortgage-backed securities, including $1.0 million loss on Shops at Caguas loan modification
- Macroeconomic exposure from increased common area maintenance and utilities expenses by $6.6 million impacting property operating costs
- Operational risk in redevelopment projects causing $20.3 million accelerated depreciation on buildings taken out of service in 2024
- Market disruption risk from foreclosed Kingswood Center leading to $2.9 million interest expense decrease and $21.7 million 2024 debt extinguishment gain
- Financial risk due to new financings and refinancings raising interest and debt expense by $4.9 million since Q4 2024
Generated from the filing text; verify against the original. How to read a 10-K
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