Urban Edge Properties: Q2 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Urban Edge Properties (UE) on Wednesday reported a key measure of profitability in its second quarter.

The New York-based real estate investment trust said it had funds from operations of $37.2 million, or 30 cents per share, in the period.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had net income of $10.3 million, or 9 cents per share.

The real estate investment trust that owns and manages shopping centers, based in New York, posted revenue of $99.1 million in the period. Its adjusted revenue was $98.8 million.

Urban Edge Properties expects full-year funds from operations in the range of $1.16 to $1.19 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UE at https://www.zacks.com/ap/UE