XML 20 R4.htm IDEA: XBRL DOCUMENT v3.20.1
CONSOLIDATED STATEMENTS OF INCOME - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
REVENUE    
Rental revenue $ 93,000 $ 97,308
Total revenue 93,360 97,732
EXPENSES    
Depreciation and amortization 23,471 21,830
Real estate taxes 14,966 15,477
Property operating 14,537 17,061
General and administrative 9,847 10,580
Casualty and impairment loss [1] 0 3,958
Lease expense 3,434 3,655
Total expenses 66,255 72,561
Gain on sale of real estate 39,775 16,953
Interest income 1,683 2,506
Interest and debt expense (17,175) (16,536)
Income before income taxes 51,388 28,094
Income tax expense (100) (202)
Net income 51,288 27,892
Less net income attributable to noncontrolling interests in:    
Operating partnership (2,308) (2,355)
Consolidated subsidiaries 0 0
Net income (loss) attributable to common shareholders $ 48,980 $ 25,537
Earnings per common share - Basic (in dollars per share) $ 0.40 $ 0.22
Earnings per common share - Diluted (in dollars per share) $ 0.40 $ 0.22
Weighted average shares outstanding - Basic (in shares) 120,966 116,274
Weighted average shares outstanding - Diluted (in shares) 121,051 126,504
Management and development fees    
REVENUE    
Revenues $ 314 $ 352
Other income    
REVENUE    
Revenues 46 72
Urban Edge Properties LP    
REVENUE    
Rental revenue 93,000 97,308
Total revenue 93,360 97,732
EXPENSES    
Depreciation and amortization 23,471 21,830
Real estate taxes 14,966 15,477
Property operating 14,537 17,061
General and administrative 9,847 10,580
Casualty and impairment loss [1] 0 3,958
Lease expense 3,434 3,655
Total expenses 66,255 72,561
Gain on sale of real estate 39,775 16,953
Interest income 1,683 2,506
Interest and debt expense (17,175) (16,536)
Income before income taxes 51,388 28,094
Income tax expense (100) (202)
Net income 51,288 27,892
Less net income attributable to noncontrolling interests in:    
Consolidated subsidiaries 0 0
Net income (loss) attributable to common shareholders $ 51,288 $ 27,892
Earnings per common share - Basic (in dollars per share) $ 0.41 $ 0.22
Earnings per common share - Diluted (in dollars per share) $ 0.40 $ 0.22
Weighted average shares outstanding - Basic (in shares) 125,844 126,391
Weighted average shares outstanding - Diluted (in shares) 126,755 126,505
Urban Edge Properties LP | Management and development fees    
REVENUE    
Revenues $ 314 $ 352
Urban Edge Properties LP | Other income    
REVENUE    
Revenues $ 46 $ 72
[1]