At a glance
Urban Edge Properties is worth $2.40B, about 26 times its fiscal 2025 earnings. Revenue grew 6.1% to $471.9M in fiscal 2025, with 19.8% kept as profit; over 5 years it has grown 7.4% a year. It pays a 4.31% dividend yield, and returned $452.7M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned −2.5% over the past year with dividends reinvested and +5.6% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 60.1% in the 2020 crash (S&P 500: 33.7%) and 31.7% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 12 months and 15 months after the lows.
The business in plain English
Urban Edge Properties is a real estate investment trust (REIT), a company that owns property and must pay out most of its taxable income. It owns, manages, develops and redevelops retail real estate, mainly from Washington, D.C. to Boston. Its annual report filed February 11, 2026, lists 69 shopping centers, two outlet centers and two malls. Together they have about 17.2 million square feet of leasable space, 90.1% occupied.
It makes money by renting space to retailers, collecting fixed and variable rents. Tenants include grocers, discounters, department stores, do-it-yourself stores, gyms, entertainment venues, restaurants, specialty shops and service providers. Leases generally build in fixed yearly rent increases. Most also make tenants pay their share of common-area upkeep, property taxes and insurance. Revenue was $471.9 million in fiscal 2025, up 6.1% from the year before.
Redevelopment is central to the plan: upgrading underused space and re-leasing it to grocers, discounters, big-box stores and food and entertainment tenants. As of December 31, 2025, active projects totaled $165.5 million, with $85.6 million still to be spent. The company expects an unleveraged yield of about 14% (yearly income as a share of cost, ignoring debt). A revenue split by segment or region isn't available. The company does say a significant number of its properties are in the New York metropolitan area.
Price history
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UE -2.5% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q3 FY2026 (ended Sep 30, 2026), revenue was $119.6M, down 0.5% from a year earlier, and net income was $51.4M (+244.4%).
- For fiscal 2025, revenue was $471.9M (+6.1% year over year; +7.4% a year from FY2020 to FY2025) with a 19.8% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +7.4% good |
|---|---|
| Free cash flow margin | 17.3% good |
| Return on equity (FY2025) | 6.8% weak |
| Return on assets (FY2025) | 2.8% weak |
| Cash and investments | $62.6M (debt isn’t tagged in a standard way in the filings, so net cash can’t be shown) |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $330.1M | $93.6M | $84.3M |
| FY2021 | $425.1M | $102.7M | $39.9M |
| FY2022 | $397.9M | $46.2M | $23.6M |
| FY2023 | $416.9M | $248.5M | $47.3M |
| FY2024 | $445.0M | $72.6M | $42.5M |
| FY2025 | $471.9M | $93.5M | $81.8M |
Valuation snapshot
| Market value | $2.40B |
|---|---|
| P/E ratio | 25.7 |
| Dividend yield | 4.31% |
Rank among 1514 US companies
Market value at each year end
Urban Edge Properties’s market value went from $2.74B at the end of 2016 to $2.40B on Oct 28, 2026, down 12%; since the end of 2025 it is down 1%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $2.40B | -0.5% |
| 2025 | $2.42B | -10.0% |
| 2024 | $2.68B | +24.7% |
| 2023 | $2.15B | +30.1% |
| 2022 | $1.65B | -25.7% |
| 2021 | $2.23B | +47.4% |
| 2020 | $1.51B | -35.1% |
| 2019 | $2.33B | +22.4% |
| 2018 | $1.90B | -34.5% |
| 2017 | $2.90B | +5.7% |
| 2016 | $2.74B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| UE price data to Oct 28, 2026 | +2.1% | -2.5% | +13.8% | +5.6% | +1.1% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +2.1% |
| 2025 | -7.2% |
| 2024 | +21.7% |
| 2023 | +35.2% |
| 2022 | -22.8% |
| 2021 | +51.7% |
| 2020 | -29.0% |
| 2019 | +20.9% |
| 2018 | -32.0% |
| 2017 | -4.1% |
| 2016 | +20.9% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 59.5% over that stretch · deepest drop along the way 60.1%, back to its old high 11.5 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 28.6% over that stretch · deepest drop along the way 31.7%, back to its old high 14.5 months after the low |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (21 read): 0 open-market purchases and 2 sales ($3.9M).
| Date | Insider | Type | Value |
|---|---|---|---|
| May 8, 2026 | Jeffrey S Olson Chairman of the Board & CEO, Director | sell | $3.5M |
| May 11, 2026 | Jeffrey S Olson Chairman of the Board & CEO, Director | sell | $411K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 17.2% | Jun 30, 2025 |
| FMR LLC | 14.3% | Sep 30, 2025 |
| Vanguard Portfolio Management | 11.07% | Jan 30, 2026 |
| Vanguard Capital Management | 5.35% | Mar 31, 2026 |
| Resolution Capital Limited | 3.33% | Jun 30, 2026 |
ETFs with the most weight in UE
| FPRO Fidelity Real Estate Investment ETF | 1.52% |
| PSCF Invesco S&P SmallCap Financials ETF | 0.68% |
| HSMV First Trust Horizon Managed Volatility Small/Mid ETF | 0.53% |
| OMFS Invesco Russell 2000 Dynamic Multifactor ETF | 0.39% |
| SIXL ETC 6 Meridian Low Beta Equity ETF | 0.38% |
| GQRE FlexShares Global Quality Real Estate Index Fund | 0.33% |
| JPSE JPMorgan Diversified Return U.S. Small Cap Equity ETF | 0.28% |
| RWR SPDR Dow Jones REIT ETF | 0.24% |
What could go wrong
- Heavy exposure to the New York area. A significant number of its properties are in the New York metropolitan area, and the portfolio is focused on the Washington-to-Boston corridor. A regional downturn could hit most of its centers at once.
- Reliance on anchor tenants. Some centers rely on anchor tenants, the large stores that draw shoppers. If one closes or leaves, foot traffic can drop, and co-tenancy clauses may let smaller tenants pay less rent or exit.
- Redevelopment projects could disappoint. With $85.6 million still to spend on projects as of December 31, 2025, higher construction costs, delays or weak leasing could push returns below the expected 14% unleveraged yield.
- Tenants may fail, leave or not renew. Rent is the main income source. A struggling or bankrupt retailer may stop paying or leave, and expiring leases may not renew on similar terms, leaving space that is costly to refill.
- Online shopping pulls sales from stores. Online shopping can cut tenants' store sales, weakening their demand for space and their ability to pay rent. The company weighs e-commerce exposure when buying properties but cannot remove the threat.
- Inflation and tariffs can squeeze tenants. Leases generally have fixed yearly rent increases, which high inflation could outpace. Tariffs could raise costs for tenants selling imported goods, and some larger tenants cap the operating costs they repay.
Recent events
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Shareholder vote results
- Quarterly results released; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
For income and retirement investors
Urban Edge pays a dividend, yielding 4.31% as of October 28, 2026, but its record is uneven. Dividends per share fell from $0.68 in 2020 to $0.60 in 2021, returned to $0.68 in 2024 and reached $0.76 in 2025. That was the second straight increase, for growth of about 2.2% a year since 2020. In 2025, dividends equaled 102% of earnings and 117% of free cash flow (cash left after running and investing in the properties). REITs often pay out more than earnings because depreciation, a noncash charge, lowers reported profit. Paying more than free cash flow, though, leaves no cushion.
There were no buybacks from 2021 through 2025, after $54.1 million in 2020, and the share count rose 7.8% from October 2021 to October 2026. The shares fell 60% in the 2020 COVID crash and took about 11.5 months to recover. They fell 32% in 2022 and took about 14.5 months to recover. A single stock carries more risk than a diversified fund.
Questions investors ask
How does Urban Edge Properties make money?
Urban Edge makes money by renting space in its shopping centers to retailers and service businesses, collecting fixed and variable rents. Its annual report filed February 11, 2026, lists 69 shopping centers, two outlet centers and two malls, mostly between Washington, D.C. and Boston. They total about 17.2 million square feet and were 90.1% occupied. Tenants include grocers, discounters, department stores, gyms, restaurants and entertainment venues. Revenue was $471.9 million in fiscal 2025, with net income of $93.5 million.
What is Urban Edge's dividend yield?
Urban Edge's dividend yield was 4.31% as of October 28, 2026. It paid $0.76 per share for fiscal 2025, up from $0.68 in 2024. Dividends paid equaled about 102% of 2025 net income and 117% of free cash flow. As a REIT, it must pay out most of its taxable income, but the company says it cannot guarantee the timing, amount or payment of future dividends.
Does Urban Edge raise its dividend every year?
No. Urban Edge has raised its dividend two years in a row, but its record has gaps. Dividends per share fell from $0.68 in 2020 to $0.60 in 2021 and rose to $0.64 in 2022. They stayed at $0.64 in 2023, then climbed to $0.68 in 2024 and $0.76 in 2025. Over the five years from 2020 to 2025, regular dividends grew about 2.2% a year.
How has Urban Edge stock performed over the long run?
Unevenly, with large swings. Based on price data as of October 28, 2026, the stock returned about 1.1% a year over 10 years, 5.6% a year over five years and 13.8% a year over three years. It lost 2.5% over one year. Calendar-year results ranged from a 51.7% gain in 2021 to a 32% loss in 2018. Its deepest peak-to-trough drop in about 11.8 years of price history was 71.8%.
Is Urban Edge Properties a REIT?
Yes. Urban Edge is a Maryland real estate investment trust (REIT). REITs generally avoid corporate income tax if they pay out most of their taxable income to shareholders, which is why their dividends tend to be higher than average. The trade-off is that they keep little cash to grow, so they often borrow or issue new shares. Urban Edge's share count rose 7.8% from October 2021 to October 2026. The company warns that losing REIT status would mean paying income tax at corporate rates.