# Urban Edge Properties (UE)

> Source: Nexqual · https://nexqual.com/UE · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Urban Edge Properties (UE), nexqual.com/UE" · informational, not investment advice.

**Price:** USD 19.55 (+2.30% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 19.11 · day 19.18–19.61 · 52w 18.46–24.11 · market cap $2.69B · NYQ

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $495M, net income $67.9M (13.7% margin), free cash flow $72.9M (SEC filings).
- Valuation: P/E 39.6x (avg 23.5x at the last 3 fiscal year-ends).
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $3.9M; 1 not under a Rule 10b5-1 plan ($3.9M); 0 by opportunistic insiders, 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Total return with dividends: 1Y -0.2% vs S&P 500 +14.9%; 5Y +30.4% vs S&P 500 +80.3%.
- Next earnings: 2026-10-28, EPS estimate USD 0.12, revenue estimate $106M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $425M | $398M | $417M | $445M | $472M | $495M |
| Net income | $103M | $46.2M | $248M | $72.6M | $93.5M | $67.9M |
| EPS (diluted) | $0.88 | $0.39 | $2.11 | $0.60 | $0.74 | — |
| Free cash flow | $39.9M | $23.6M | $47.3M | $42.5M | $81.8M | $72.9M |
| Net margin | 24.2% | 11.6% | 59.6% | 16.3% | 19.8% | 13.7% |
| Revenue growth | +28.8% | -6.4% | +4.8% | +6.7% | +6.1% | — |
| Cash + short-term investments | $164M | $85.5M | $101M | $41.4M | $48.9M | — |
| Total debt | $1.69B | $1.69B | — | — | — | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/E 39.6x · P/S 5.4x · P/FCF 36.9x · P/B 1.9x · FCF yield 2.71% · Earnings yield 2.52% · Dividend yield (paid, TTM) 3.74%
P/E at fiscal year-ends: Dec 2025 25.8x, Dec 2024 36.0x, Dec 2023 8.7x.

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-05-08…2026-05-11 | Olson Jeffrey S | Chairman of the Board & CEO | 180,587 | $3.9M | 98% | No | Too little history (no open-market trades in 2023) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-09 | UBS | Target lowered | Neutral | $24 → $21 |
| 2026-07-09 | UBS | Target raised | Neutral | $22 → $24 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | -0.2% | +30.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -0.2% | +5.5% |
| Volatility (annualized) | 18.6% | 25.6% |
| Max drawdown | -18.6% (Jun 2026→Oct 2026) | -29.9% (Jan 2022→Oct 2022) |

## Peers (REIT - Retail)
AKR (Acadia Realty Trust) USD 18.78 +3.19% · FCPT (Four Corners Property Trust, In) USD 22.05 +4.06% · IVT (InvenTrust Properties Corp.) USD 30.14 +2.55% · CURB (Curbline Properties Corp.) USD 28.86 +7.25% · GTY (Getty Realty Corporation) USD 28.45 +3.57% · NTST (NetSTREIT Corp.) USD 17.02 +3.34%

## More
Full page: https://nexqual.com/UE · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in UE's own 10-K filed 2026-02-11 (https://www.sec.gov/Archives/edgar/data/1611547/000161154726000022/ue-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Microsoft (MSFT) | "We utilize a risk-based approach that aligns with the National Institute of Standards and Technology Cybersecurity Framework, and Microsoft best practices." |

## Revenue by product line (quarter ended 2026-06-30)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Rental Revenue | $122.6M | 99.9% | +7.7% |
| Property Rentals | $83.8M | 68.3% | +4.9% |
| Tenant expense reimbursements | $31.9M | 26.0% | +1.6% |
| Other income | $136,000 | 0.1% | -20.9% |
| Total revenue | $122.8M | 100% | — |
The lines above cover 194.3% of total revenue.

## Customer concentration

Period ended 2025-12-31: 5.6% of revenue from unnamed direct customers (10-K, filed 2026-02-11).

## Company outlook (8-K filed 2026-08-06)

- "We're also under contract to sell a Kohl's-anchored center in Morris Plains, NJ for $60.5 million." "Given our better-than-expected results, we raised full-year FFO as Adjusted guidance by $0.02 per share."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.12 | $0.13 | -7.7% | $106.4M | 1 |
| Next quarter (ends 2026-12-31) | $0.11 | $0.12 | -5.7% | $108.2M | 1 |
| Current fiscal year (ends 2026-12-31) | $0.49 | $0.52 | -6.4% | $447.5M | 1 |
| Next fiscal year (ends 2027-12-31) | $0.51 | $0.51 | +0.7% | $439.0M | 1 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2027-03-19 (includes earnings 2026-10-28): ±26.4%; last 8 reports averaged ±1.9%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2027-03-19 | 147 | 33.9% | ±26.4% |