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CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUE    
Total revenue $ 99,441,000 $ 100,201,000
EXPENSES    
Depreciation and amortization 25,084,000 24,527,000
Real estate taxes 15,677,000 15,975,000
Property operating 17,426,000 21,205,000
General and administrative 9,058,000 11,121,000
Real estate impairment loss 34,055,000 0
Lease expense 3,155,000 3,135,000
Total expenses 104,455,000 75,963,000
Gain on sale of real estate 356,000 0
Interest income 511,000 205,000
Interest and debt expense (15,293,000) (14,004,000)
Income (loss) before income taxes (19,440,000) 10,439,000
Income tax expense (706,000) (905,000)
Net income (loss) (20,146,000) 9,534,000
Less net (income) loss attributable to NCI in:    
Operating partnership 788,000 (387,000)
Consolidated subsidiaries 240,000 339,000
Net income (loss) attributable to common shareholders $ (19,118,000) $ 9,486,000
Earnings per common share - Basic (in dollars per share) $ (0.16) $ 0.08
Earnings per common share - Diluted (in dollars per share) $ (0.16) $ 0.08
Weighted average shares outstanding - Basic (in shares) 117,450 117,330
Weighted average shares outstanding - Diluted (in shares) 117,450 117,393
Net income (loss) $ (20,146,000) $ 9,534,000
Effective portion of change in fair value of derivatives (300,000) 0
Comprehensive income (loss) (20,446,000) 9,534,000
Less comprehensive loss attributable to NCI in Operating partnership 12,000 0
Less net (income) loss attributable to NCI in Operating partnership 788,000 (387,000)
Less net (income) loss attributable to NCI in Consolidated subsidiaries 240,000 339,000
Comprehensive income (loss) attributable to common shareholders (19,406,000) 9,486,000
Rental Revenue    
REVENUE    
Revenues 99,354,000 99,416,000
Other income    
REVENUE    
Revenues 87,000 785,000
Urban Edge Properties LP    
REVENUE    
Total revenue 99,441,000 100,201,000
EXPENSES    
Depreciation and amortization 25,084,000 24,527,000
Real estate taxes 15,677,000 15,975,000
Property operating 17,426,000 21,205,000
General and administrative 9,058,000 11,121,000
Real estate impairment loss 34,055,000 0
Lease expense 3,155,000 3,135,000
Total expenses 104,455,000 75,963,000
Gain on sale of real estate 356,000 0
Interest income 511,000 205,000
Interest and debt expense (15,293,000) (14,004,000)
Income (loss) before income taxes (19,440,000) 10,439,000
Income tax expense (706,000) (905,000)
Net income (loss) (20,146,000) 9,534,000
Less net (income) loss attributable to NCI in:    
Consolidated subsidiaries 240,000 339,000
Net income (loss) attributable to common shareholders $ (19,906,000) $ 9,873,000
Earnings per common share - Basic (in dollars per share) $ (0.16) $ 0.08
Earnings per common share - Diluted (in dollars per share) $ (0.16) $ 0.08
Weighted average shares outstanding - Basic (in shares) 121,752 121,188
Weighted average shares outstanding - Diluted (in shares) 121,752 122,187
Net income (loss) $ (20,146,000) $ 9,534,000
Effective portion of change in fair value of derivatives (300,000) 0
Comprehensive income (loss) (20,446,000) 9,534,000
Less net (income) loss attributable to NCI in Consolidated subsidiaries 240,000 339,000
Comprehensive income (loss) attributable to common shareholders (20,206,000) 9,873,000
Urban Edge Properties LP | Rental Revenue    
REVENUE    
Revenues 99,354,000 99,416,000
Urban Edge Properties LP | Other income    
REVENUE    
Revenues $ 87,000 $ 785,000