URBAN EDGE PROPERTIES UE Income Statement

Urban edge properties (UE)

Income statement / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14
REVENUE
Operating Lease, Lease Income
380,097	384,405	389,968	410,932	410,212	411,298	479,146	437,038	400,978	365,082	341,800	331,313	325,288	321,719	235,540	234,513	233,210	231,867	232,494	232,508	232,754	232,592	0	0	0
Revenues
383,277	387,649	392,645	413,616	412,839	414,160	410,613	392,500	380,031	407,042	393,144	379,016	368,972	325,976	323,120	322,972	322,230	322,945	322,131	318,722	316,827	315,676	0	0	0
EXPENSES
Depreciation and amortization
95,757	94,116	91,771	92,108	99,982	99,422	95,320	94,463	87,723	82,281	74,742	68,201	58,058	56,145	57,593	56,761	57,436	57,253	54,777	54,322	53,787	53,653	0	0	0
Real estate taxes
59,668	60,179	61,107	62,991	63,357	63,655	63,498	62,996	62,120	59,737	56,703	53,560	51,572	51,429	50,444	49,942	49,736	49,311	50,173	49,766	49,993	49,835	0	0	0
Property operating
61,538	64,062	61,916	70,169	77,518	78,360	80,477	69,551	58,874	54,339	48,542	47,037	45,789	45,280	45,189	45,786	46,931	50,595	51,017	51,597	51,945	51,988	0	0	0
General and administrative
37,487	38,220	38,348	39,697	37,923	34,984	33,272	30,595	30,200	30,691	30,968	30,561	30,255	28,843	27,414	27,181	26,438	32,044	29,048	27,269	25,037	17,820	0	0	0
Casualty and impairment loss
8,780	12,738	14,744	14,802	9,725	4,426	497	2,609	2,877	7,382	5,637	3,467	3,164	0	0	0	0	-	-	-	-	-	-	-	-
Lease expense
14,245	14,466	14,275	13,511	12,367	11,448	11,061	11,230	10,914	10,848	10,515	10,132	10,179	10,047	10,052	10,071	10,153	10,129	10,107	10,173	10,262	10,304	0	0	0
Total expenses
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Transaction costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,881	1,809	2,202	24,011	26,358	30,890	30,463	8,604	0	0	0
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	1,894	1,468	1,056	1,214	1,381	1,659	1,554	1,526	1,417	1,017	986	1,032	0	0	0
Total expenses
-	-	282,161	293,278	-	292,295	282,451	270,345	252,515	245,278	228,694	214,342	200,023	192,958	193,954	193,209	194,450	224,869	222,897	225,034	222,473	193,236	0	0	0
Operating income
-	-	-	-	-	-	-	-	-	-	164,450	164,674	168,949	133,018	129,166	129,763	127,780	98,076	99,234	93,688	94,354	122,440	0	0	0
Gain on sale of real estate
91,454	68,632	68,219	30,688	69,578	52,625	52,827	50,642	0	-	0	0	-	-	0	0	-	-	0	0	-	-	-	-	-
Gain on sale of lease
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
8,951	9,774	10,063	9,745	9,318	8,336	7,009	5,340	3,645	2,248	1,341	798	639	679	569	432	306	150	110	80	37	35	0	0	0
Interest and Debt Expense
67,278	66,639	66,678	66,573	65,760	64,868	62,898	60,779	58,747	56,218	54,245	52,374	51,567	51,881	52,578	53,423	53,844	55,584	56,410	57,102	56,999	54,960	0	0	0
Gain (loss) on extinguishment of debt
-	-	0	0	-	2,524	-31,538	-31,538	-31,538	-35,336	-1,274	-1,274	-1,274	0	0	0	0	-	-	-	-	-	-	-	-
Income before income taxes
140,778	117,484	123,937	94,198	125,103	120,482	93,360	85,820	41,078	72,660	110,474	111,824	132,365	97,434	92,775	92,390	74,242	42,642	42,934	36,666	37,392	67,515	0	0	0
Income tax expense
1,185	1,287	4,027	4,089	3,287	3,519	-479	-276	-164	-278	1,397	1,398	788	804	244	319	1,089	1,294	1,545	1,676	1,531	1,721	0	0	0
Net income
139,593	116,197	119,910	90,109	121,816	116,963	93,839	86,096	41,242	72,938	109,077	110,426	131,577	96,630	92,531	92,071	73,153	41,348	41,389	34,990	35,861	65,794	0	0	0
Less net income attributable to noncontrolling interests in:
Operating partnership
6,652	6,699	7,262	7,288	11,795	11,768	9,434	8,713	4,014	5,824	8,649	7,921	8,796	5,812	5,536	5,476	4,261	2,547	1,605	426	-560	0	0	0	0
Consolidated subsidiaries
-25	-25	-13	0	34	45	45	45	44	44	37	27	18	3	-2	3	6	16	23	22	23	22	0	0	0
Net income (loss) attributable to common shareholders
132,966	109,523	112,661	82,821	109,987	105,150	84,360	77,338	37,184	67,070	100,391	102,478	122,763	90,815	86,997	86,592	68,886	38,785	39,761	34,542	36,398	65,772	0	0	0
Earnings per common share - Basic (in dollars per share)
0.40	0.02	0.45	0.22	0.22	0.06	0.21	0.47	0.18	-0.17	0.15	0.13	0.51	0.38	0.00	0.34	0.19	0.16	0.19	0.16	-0.12	0.16	0.14	0.18	0.18
Earnings per common share - Diluted (in dollars per share)
0.40	0.02	0.45	0.22	0.22	0.06	0.21	0.47	0.18	-0.17	0.15	0.13	0.50	0.38	0.00	0.34	0.19	0.16	0.19	0.16	-0.12	0.16	0.14	0.18	0.18
Weighted average shares outstanding - Basic (in shares)
120,966	121,279	121,087	120,364	116,274	114,146	113,890	113,739	113,677	113,836	110,990	104,063	99,639	99,613	99,304	99,274	99,265	99,258	99,252	99,250	99,248	-	99,248	99,248	-
Weighted average shares outstanding - Diluted (in shares)
121,051	111,436	121,183	120,461	126,504	114,242	114,156	113,942	113,864	157,947	111,260	104,260	100,093	100,275	99,870	99,668	99,363	99,304	99,286	99,274	99,248	-	99,248	99,248	-
Weighted average shares outstanding - Basic and Diluted
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	99,248
Urban Edge Properties LP
Operating Lease, Lease Income
380,097	384,405	389,968	410,932	410,212	411,298	479,146	437,038	400,978	365,082	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Total revenue
383,277	387,649	392,645	413,616	412,839	414,160	410,613	392,500	380,031	407,042	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Tenant expense reimbursements
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Management and development fees
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Income from acquired leasehold interest
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Other income
-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-
Depreciation and amortization
95,757	94,116	91,771	92,108	99,982	99,422	95,320	94,463	87,723	82,281	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Real estate taxes
59,668	60,179	61,107	62,991	63,357	63,655	63,498	62,996	62,120	59,737	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Property operating
61,538	64,062	61,916	70,169	77,518	78,360	80,477	69,551	58,874	54,339	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
General and administrative
37,487	38,220	38,348	39,697	37,923	34,984	33,272	30,595	30,200	30,691	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Casualty and impairment loss
8,780	12,738	14,744	14,802	9,725	4,426	497	2,609	2,877	7,382	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Lease expense
14,245	14,466	14,275	13,511	12,367	11,448	11,061	11,230	10,914	10,848	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Provision for doubtful accounts
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Total expenses
277,475	283,781	282,161	293,278	300,872	292,295	282,451	270,345	252,515	245,278	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Operating income
-	-	-	-	-	-	-	-	-	-	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of real estate
91,454	68,632	68,219	30,688	69,578	52,625	52,827	50,642	0	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Gain on sale of lease
-	-	0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest income
8,951	9,774	10,063	9,745	9,318	8,336	7,009	5,340	3,645	2,248	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Interest and Debt Expense
67,278	66,639	66,678	66,573	65,760	64,868	62,898	60,779	58,747	56,218	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Gain (loss) on extinguishment of debt
-	-	0	0	-	2,524	-31,538	-31,538	-31,538	-35,336	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Income before income taxes
140,778	117,484	123,937	94,198	125,103	120,482	93,360	85,820	41,078	72,660	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
1,185	1,287	4,027	4,089	3,287	3,519	-479	-276	-164	-278	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net income
139,593	116,197	119,910	90,109	121,816	116,963	93,839	86,096	41,242	72,938	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Consolidated subsidiaries
-25	-25	-13	0	34	45	45	45	44	44	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Net income (loss) attributable to common shareholders
139,618	116,222	119,923	90,109	121,782	116,918	93,794	86,051	41,198	72,894	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share - Basic (in dollars per share)
0.41	0.03	0.45	0.22	0.22	0.06	0.21	0.47	0.18	-0.17	0.15	0.13	0.51	-	-	-	-	-	-	-	-	-	-	-	-
Earnings per common share - Diluted (in dollars per share)
0.40	0.03	0.45	0.22	0.22	0.06	0.21	0.47	0.18	-0.17	0.15	0.13	0.50	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average shares outstanding - Basic (in shares)
125,844	126,186	126,277	126,478	126,391	126,283	126,208	126,178	126,123	126,353	123,433	113,847	107,483	-	-	-	-	-	-	-	-	-	-	-	-
Weighted average shares outstanding - Diluted (in shares)
126,755	126,454	126,373	126,580	126,505	125,667	126,693	126,602	126,582	127,559	123,703	114,044	108,254	-	-	-	-	-	-	-	-	-	-	-	-
Tenant expense reimbursements
Revenues
-	-	-	-	-	-	-	-	-	-	0	0	0	-	82,949	82,249	82,821	84,617	84,078	82,942	81,393	81,887	0	0	0
Management and development fees
Revenues
1,862	1,900	1,345	1,440	1,479	1,469	1,400	1,394	1,398	1,535	1,602	1,608	1,783	1,759	1,838	2,014	2,181	2,261	1,912	1,495	0	-	0	0	-
Income from acquired leasehold interest
Revenues from contract with customer
-	-	-	-	-	-	-	-	-	39,215	39,215	39,215	39,215	0	0	0	0	-	-	-	-	-	-	-	-
Other income
Revenues
1,318	1,344	1,332	1,244	1,148	1,393	1,657	1,720	1,426	1,210	1,211	1,614	1,422	2,498	2,793	4,196	4,018	4,200	3,512	1,643	1,610	662	0	0	0