UE Earnings Prediction
The chart below shows how UE performed 10 days before and after its earnings report, based on data from the past quarters. Typically, UE sees a -1.91% change in stock price 10 days leading up to the earnings, and a -0.23% change 10 days following the report. On the earnings day itself, the stock moves by +1.36%. This data can give you a slight idea of what to expect for the next quarter's release.
UE Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
112.43M
10.40%
5.52%
Gross Margin
34.02%
-11.06%
29.35%
Operating Margin
25.65%
-12.96%
46.49%
Net Margin
8.42%
-77.16%
-71.99%
EPS
0.07
-77.42%
-73.08%
No Data Available
UE Earnings Analysis
UBRAN EDGE PROPERTIES Corporation (UE.N) Earnings Conference Call
Positive
FFO Growth and NOI Increase: 9% FFO per share growth compared to Q3 last year, driven by a 5.1% increase in same property net operating income.
Property Acquisition Details: Acquired The Village at Waugh Chapel for $126 million at a cap rate of 6.6%, expected to generate a first-year leverage return of 9%.
Leasing Activity Highlights: Leasing activity included 23 new leases with a same space cash spread of 15%, and shop occupancy increased by 500 basis points to 90.4%.
FFO Guidance Increase: Increased 2024 FFO as adjusted guidance to $1.32 to $1.35 per share, reflecting 7% expected FFO growth for the year.
NOI Growth Guidance Increase: Same property NOI growth guidance increased to a midpoint of 5.4%, implying 8.6% growth in the fourth quarter.
Negative
Rising Bad Debt: 1. Increased Bad Debt: Uncollectible rental revenue was almost twice as high as the unusually low level recorded in the third quarter of last year, indicating a significant rise in bad debt.
Occupancy Rate Decline: 2. Declining Same Property Occupancy: Same property leased occupancy decreased by 10 basis points compared to the prior quarter, reflecting a slight decline in occupancy despite overall strong leasing activity.
Tenant Revenue Risk: 3. High Tenant Risk: The potential fallout from tenants such as Big Lots and others could significantly impact revenues, with these tenants representing about $3 million of gross rent, posing a risk to achieving the high end of same store NOI guidance.
G&A Cost Management Limits: 4. Increased G&A Guidance: Although G&A guidance was reduced, the CFO indicated that further declines in G&A are unlikely, suggesting a limit to cost-cutting measures moving forward.
Competitive Acquisition Landscape: 5. Competitive Acquisition Market: The acquisition market has become more competitive, leading to compressed cap rates by 50 to 75 basis points over the last six to nine months, which may hinder future acquisition opportunities.
UE FAQs
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UE Earning Call Sentiment
Urban Edge Properties (UE) Q3 2024 Earnings Call Transcript
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00:00
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UE.N
2.06%Positive
The earnings call highlights strong financial metrics, including increased FFO guidance, high acquisition activity, and a favorable debt position. Despite competitive pressures and potential tenant risks, management's optimistic guidance and strategic focus on redevelopment and outparcel opportunities provide positive market sentiment. The Q&A section reflects management's confidence in reaching higher occupancy rates and addressing tenant turnover. Considering the company's $2.16 billion market cap, the stock price is likely to experience a positive movement of 2% to 8% over the next two weeks.