EARNINGS PER SHARE AND UNIT (Tables)

9 Months Ended

Sep. 30, 2025

Schedule of Computation of Basic and Diluted Earnings per Share and Unit

The following table sets forth the computation of our basic and diluted EPS:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Amounts in thousands, except per share amounts)	2025		2024		2025		2024
Numerator:
Net income attributable to common shareholders	$	14,935	$	9,080	$	81,111	$	42,442
Less: earnings allocated to unvested participating securities	(9)		(8)		(51)		(39)
Net income available for common shareholders - basic	$	14,926	$	9,072	$	81,060	$	42,403
Impact of assumed conversions:
LTIP Units	—		—		71		—
Net income available for common shareholders - dilutive	$	14,926	$	9,072	$	81,131	$	42,403

Denominator:
Weighted average common shares outstanding - basic	125,729		123,359		125,643		120,109
Effect of dilutive securities(1):
Stock options using the treasury stock method	—		5		—		5
Restricted share awards	74		107		81		108
Assumed conversion of LTIP Units	—		—		145		—
Weighted average common shares outstanding - diluted	125,803		123,471		125,869		120,222

Earnings per share available to common shareholders:
Earnings per common share - Basic	$	0.12	$	0.07	$	0.65	$	0.35
Earnings per common share - Diluted	$	0.12	$	0.07	$	0.64	$	0.35

(1) For the three and nine months ended September 30, 2025, the effect of the redemption of certain OP and LTIP Units for Urban Edge common shares would have an anti-dilutive effect on the calculation of diluted EPS. Accordingly, the impact of such redemption has not been included in the determination of diluted EPS for these periods.

Operating Partnership Earnings per Unit

The following table sets forth the computation of basic and diluted earnings per unit:


	Three Months Ended September 30,				Nine Months Ended September 30,
(Amounts in thousands, except per unit amounts)	2025		2024		2025		2024
Numerator:
Net income attributable to unitholders	$	15,771	$	9,630	$	85,437	$	44,849
Less: net income attributable to participating securities	(325)		(270)		(1,003)		(832)
Net income available for unitholders	$	15,446	$	9,360	$	84,434	$	44,017

Denominator:
Weighted average units outstanding - basic	130,591		128,074		130,396		124,776
Effect of dilutive securities issued by Urban Edge	74		112		225		113

Weighted average units outstanding - diluted	130,665		128,186		130,621		124,889

Earnings per unit available to unitholders:
Earnings per unit - Basic	$	0.12	$	0.07	$	0.65	$	0.35
Earnings per unit - Diluted	$	0.12	$	0.07	$	0.65	$	0.35

Urban Edge Properties 10-Q