XML 17 R4.htm IDEA: XBRL DOCUMENT v3.5.0.2
Consolidated and Combined Statements of Income - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
REVENUE        
Property rentals $ 59,138 $ 58,111 $ 176,750 $ 173,077
Tenant expense reimbursements 19,888 19,188 62,274 63,942
Management and development fees 375 551 1,356 1,779
Other income 572 1,975 2,118 3,525
Total revenue 79,973 79,825 242,498 242,323
EXPENSES        
Depreciation and amortization 14,435 13,603 41,908 41,568
Real estate taxes 12,729 12,227 38,701 37,568
Property operating 9,897 10,494 32,596 38,002
General and administrative 6,618 6,385 20,873 25,503
Ground rent 2,508 2,527 7,529 7,606
Transaction costs 223 151 307 22,437
Provision for doubtful accounts 149 427 994 1,139
Total expenses 46,559 45,814 142,908 173,823
Operating income 33,414 34,011 99,590 68,500
Gain on sale of real estate 0 0 15,618 0
Interest income 176 39 520 101
Interest and debt expense (12,766) (13,611) (39,015) (42,021)
Income before income taxes 20,824 20,439 76,713 26,580
Income tax expense (319) (394) (349) (1,399)
Net income 20,505 20,045 76,364 25,181
Less (net income) loss attributable to noncontrolling interests in:        
Operating partnership (1,239) (1,179) (4,594) (1,605)
Consolidated subsidiaries (1) (6) 1 (17)
Net income (loss) attributable to common shareholders $ 19,265 $ 18,860 $ 71,771 $ 23,559
Earnings per common share - Basic (in dollars per share) $ 0.19 $ 0.19 $ 0.72 $ 0.24
Earnings per common share - Diluted (in dollars per share) $ 0.19 $ 0.19 $ 0.72 $ 0.24
Weighted average shares outstanding - Basic (in shares) 99,304 99,252 99,281 99,250
Weighted average shares outstanding - Diluted (in shares) 99,870 99,286 99,711 99,272
Urban Edge Properties LP        
REVENUE        
Property rentals $ 59,138 $ 58,111 $ 176,750 $ 173,077
Tenant expense reimbursements 19,888 19,188 62,274 63,942
Management and development fees 375 551 1,356 1,779
Other income 572 1,975 2,118 3,525
Total revenue 79,973 79,825 242,498 242,323
EXPENSES        
Depreciation and amortization 14,435 13,603 41,908 41,568
Real estate taxes 12,729 12,227 38,701 37,568
Property operating 9,897 10,494 32,596 38,002
General and administrative 6,618 6,385 20,873 25,503
Ground rent 2,508 2,527 7,529 7,606
Transaction costs 223 151 307 22,437
Provision for doubtful accounts 149 427 994 1,139
Total expenses 46,559 45,814 142,908 173,823
Operating income 33,414 34,011 99,590 68,500
Gain on sale of real estate 0 0 15,618 0
Interest income 176 39 520 101
Interest and debt expense (12,766) (13,611) (39,015) (42,021)
Income before income taxes 20,824 20,439 76,713 26,580
Income tax expense (319) (394) (349) (1,399)
Net income 20,505 20,045 76,364 25,181
Less (net income) loss attributable to noncontrolling interests in:        
Consolidated subsidiaries (1) (6) 1 (17)
Net income (loss) attributable to common shareholders $ 20,504 $ 20,039 $ 76,365 $ 25,164
Earnings per common share - Basic (in dollars per share) $ 0.19 $ 0.19 $ 0.72 $ 0.24
Earnings per common share - Diluted (in dollars per share) $ 0.19 $ 0.19 $ 0.72 $ 0.24
Weighted average shares outstanding - Basic (in shares) 105,404 105,312 105,370 105,262
Weighted average shares outstanding - Diluted (in shares) 105,970 105,346 105,800 105,284