Urban Edge: Unlikely To Edge Significantly Higher In 2023

Feb. 23, 2023 2:26 PM ETUrban Edge Properties (UE) StockUE7 Comments
Justin Purohit
2.3K Followers

Summary

  • Urban Edge Properties owns a portfolio of shopping centers and other assets, located primarily in the D.C. to Boston corridor.
  • The company reported a strong finish to the 2022 fiscal year, marked with record new lease signings.
  • Shares are off to a good start in 2023, but they are unlikely to advance significantly higher.
  • The rollover of a large upcoming debt maturity is still pending, which creates one element of uncertainty.
  • And in a market with inherently higher hurdle rates, the company's results didn't inspire enough for new initiation.

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Urban Edge Properties (NYSE:UE) has an interest in a portfolio of 69 shopping centers, five malls, and two industrial parks, located primarily in the Washington D.C. to Boston corridor.

The company's top twenty-five tenants represent

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