UE News & Events

Reports Q1 revenue $132.6M vs $118.165M last year. "Our first quarter results reflect the continued strength and quality of our portfolio," said Jeff Olson, Chairman and CEO. "We executed 419,000 sf of leasing transactions in the quarter, including 84,000 sf of new leases at a cash spread of 52%, and 335,000 sf of renewals, achieving a blended cash spread of 15%. We acquired The Village at Bridgewater Commons in Bridgewater, New Jersey for $54 million, advancing our external growth plans. We have also raised the low end of our FFO as Adjusted guidance from a range of $1.47 to $1.52 per diluted share to $1.48 to $1.52 per diluted share."

On February 10, the board of trustees declared a regular quarterly dividend of 21c per common share, resulting in an indicated annual rate of 84c per share, an annual increase of 8c per share or 11% over the prior annual rate. The dividend will be payable on March 31 to common shareholders of record on March 13.