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 real estate investment trust, based in New York, said it had funds from operations of $40.2 million, or 32 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 $30.8 million, or 26 cents per share.

The real estate investment trust that owns and manages shopping centers, based in New York, posted revenue of $106.5 million in the period. Its adjusted revenue was $106.4 million.

Urban Edge Properties expects full-year funds from operations in the range of $1.29 to $1.32 per share.

_____

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