Urban Edge Properties
(NYSE:UE)

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 78 properties totaling 15.1 million square feet of gross leasable a...

Website: http://www.uedge.com

Founded: 2014

Full Time Employees: 117

Sector: Real Estate

Industry: REIT-Diversified

REIT

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At a glance:

Bull Thesis:

Bear Thesis:

Main Competitors:

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Income Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-05-02	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31

revenue
yoy
qoq
rental revenue	124,185,000	119,196,000	113,912,000	118,092,000	116,298,000	112,262,000	106,358,000	109,547,000	106,253,000	101,732,000	98,773,000	99,354,000	101,331,000	98,175,000	97,454,000	99,416,000	128,210,000	105,985,000	93,653,000	94,619,000	86,656,000	75,359,000	73,265,000	93,000,000	94,840,000	90,769,000	101,488,000	97,308,000
other income	8,439,000	930,000	172,000	73,000	69,000	165,000	188,000	79,000	10,329,000	102,000	292,000	87,000	262,000	115,000	400,000	545,000	108,000	574,000	87,000	677,000	342,000	75,000	69,000	46,000	127,000	194,000	951,000	72,000	115,000	106,000	855,000	317,000	317,000	379,000	169,000	561,000	101,000	380,000	572,000	369,000	1,177,000	675,000	1,975,000	191,000	1,894,000
total revenue	132,624,000	120,126,000	114,084,000	118,165,000	116,367,000	112,427,000	106,546,000	109,626,000	116,582,000	101,834,000	99,065,000	99,441,000	101,593,000	98,290,000	97,854,000	100,201,000	128,576,000	106,839,000	94,006,000	95,661,000	87,278,000	75,838,000	73,619,000	93,360,000	95,927,000	91,243,000	102,747,000	97,732,000	100,923,000	112,214,000	101,970,000	99,053,000	99,053,000	97,376,000	94,101,000	89,501,000	126,064,000	83,478,000	79,973,000	79,457,000	83,068,000	80,622,000	79,825,000	78,715,000	83,783,000
expenses
depreciation and amortization	32,312,000	36,831,000	32,602,000	37,195,000	37,483,000	34,653,000	39,679,000	38,574,000	31,460,000	26,922,000	25,513,000	25,084,000	24,871,000	24,343,000	24,691,000	24,527,000	23,797,000	23,171,000	22,488,000	22,875,000	26,371,000	22,888,000	23,299,000	23,471,000	28,223,000	21,496,000	22,567,000	21,830,000	25,878,000	21,833,000	30,441,000	21,270,000	21,270,000	21,776,000	20,976,000	23,701,000	15,828,000	14,237,000	14,435,000	13,558,000	13,915,000	15,685,000	13,603,000	14,233,000	13,732,000
real estate taxes	16,602,000	16,791,000	16,582,000	16,358,000	16,509,000	17,667,000	17,472,000	17,003,000	16,909,000	16,182,000	16,121,000	15,677,000	14,202,000	16,231,000	15,456,000	15,975,000	16,018,000	15,862,000	15,363,000	16,601,000	15,271,000	14,916,000	14,896,000	14,966,000	14,991,000	14,490,000	15,221,000	15,477,000	15,919,000	16,374,000	15,587,000	15,775,000	15,775,000	15,762,000	15,872,000	14,711,000	13,392,000	12,728,000	12,729,000	12,723,000	13,249,000	11,743,000	12,227,000	12,517,000	12,824,000
property operating	28,938,000	18,070,000	17,531,000	22,732,000	21,588,000	18,422,000	18,260,000	20,506,000	18,811,000	16,618,000	15,708,000	17,426,000	17,861,000	17,672,000	17,596,000	21,205,000	16,657,000	15,692,000	15,891,000	20,291,000	16,259,000	13,436,000	11,894,000	14,537,000	18,510,000	14,075,000	14,416,000	17,061,000	14,814,000	22,249,000	20,492,000	16,667,000	16,667,000	15,036,000	11,402,000	11,088,000	13,368,000	12,684,000	9,897,000	9,840,000	12,859,000	12,593,000	10,494,000	10,985,000	16,523,000
general and administrative	9,136,000	8,976,000	11,717,000	9,531,000	9,645,000	9,415,000	9,368,000	9,046,000	9,167,000	8,938,000	9,907,000	9,058,000	11,480,000	9,852,000	10,634,000	11,121,000	10,866,000	10,134,000	9,484,000	8,668,000	12,082,000	8,700,000	18,053,000	9,847,000	9,277,000	8,353,000	10,010,000	10,580,000	9,405,000	9,702,000	8,236,000	7,641,000	7,641,000	7,693,000	6,930,000	7,709,000	8,081,000	6,565,000	6,618,000	7,535,000	6,720,000	6,541,000	6,385,000	6,792,000	12,326,000
lease expense	3,173,000	3,320,000	3,290,000	3,371,000	3,493,000	3,433,000	3,115,000	3,128,000	3,164,000	3,159,000	3,156,000	3,155,000	3,133,000	3,109,000	3,083,000	3,135,000	3,207,000	3,164,000	3,195,000	3,306,000	3,467,000	3,415,000	3,351,000	3,434,000	3,429,000	3,486,000	3,896,000	3,655,000
total expenses	90,161,000	85,668,000	83,065,000	90,514,000	88,718,000	83,590,000	87,894,000	88,257,000	79,511,000	71,819,000	70,405,000	104,455,000	71,547,000	71,207,000	71,460,000	75,963,000	70,641,000	68,395,000	66,421,000	71,741,000	76,505,000	63,355,000	71,493,000	66,255,000	78,098,000	61,900,000	71,222,000	72,561,000	76,478,000	73,017,000	78,816,000	63,984,000	63,984,000	66,634,000	60,911,000	60,986,000	56,747,000	50,050,000	46,559,000	46,667,000	49,682,000	51,046,000	45,814,000	47,908,000	80,101,000
interest income	393,000	824,000	667,000	607,000	639,000	679,000	661,000	688,000	1,397,000	565,000	564,000	511,000	394,000	294,000	214,000	205,000	57,000	77,000	90,000	136,000	212,000	282,000	422,000	1,683,000	2,104,000	2,706,000	2,458,000	2,506,000	2,393,000	2,388,000	2,031,000	1,524,000	1,524,000	1,066,000	719,000	336,000	127,000	159,000	176,000	177,000	167,000	49,000	39,000	51,000	11,000
interest and debt expense	-18,719,000	-19,374,000	-19,537,000	-19,755,000	-19,583,000	-19,531,000	-21,896,000	-20,577,000	-22,515,000	-19,006,000	-18,131,000	-15,293,000	-15,468,000	-15,266,000	-14,241,000	-14,004,000	-13,745,000	-14,638,000	-14,728,000	-14,827,000	-17,131,000	-18,136,000	-18,573,000	-17,175,000	-16,770,000	-16,861,000	-16,472,000	-16,536,000	-16,809,000	-16,756,000	-15,659,000	-15,644,000	-15,644,000	-14,839,000	-14,637,000	-13,627,000	-13,115,000	-12,866,000	-12,766,000	-12,820,000	-13,429,000	-13,563,000	-13,611,000	-13,241,000	-15,169,000
gain on extinguishment of debt	-212,000		-175,000	498,000	-4,000		21,699,000		-1,396,000	43,029,000													34,908,000									2,524,000	2,524,000
income before income taxes	23,925,000	16,141,000	61,436,000	9,001,000	32,170,000	9,985,000	32,563,000	3,110,000	231,909,000	54,603,000	10,604,000	-19,440,000	14,972,000	12,111,000	12,720,000	10,439,000	44,247,000	30,809,000	12,947,000	20,951,000	-6,146,000	-5,371,000	18,883,000	51,388,000	3,576,000	56,753,000	29,061,000	28,094,000	10,029,000	27,014,000	59,966,000	23,473,000	23,473,000	-17,093,000	19,474,000	15,224,000	55,055,000	20,721,000	20,824,000	35,765,000	20,124,000	16,062,000	20,439,000	17,617,000	-11,476,000
income tax expense	-378,000	-600,000	-643,000	-619,000	-664,000	-518,000	-539,000	-665,000	10,000	-17,063,000	-41,000	-706,000	-565,500	-646,000		-905,000				-235,000				-100,000	-312,250	-53,000	-994,000	-202,000	-185,250	-115,000	-192,000	-434,000	-434,000	-235,500	-318,000		-320,000	-455,000	-319,000		-336,000	105,000	-394,000	-464,000	-541,000
net income	23,547,000	15,541,000	60,793,000	8,382,000	31,506,000	9,467,000	32,024,000	2,445,000	231,919,000	37,540,000	10,563,000	-20,146,000	14,331,000	11,465,000	12,009,000	9,534,000	44,013,000	30,105,000	12,981,000	20,716,000	19,747,000	-5,830,000	32,545,000	51,288,000	3,538,000	56,700,000	28,067,000	27,892,000	7,251,000	26,899,000	59,774,000	23,039,000	23,039,000	-15,873,000	19,156,000	14,920,000	54,735,000	20,266,000	20,505,000	36,071,000	19,788,000	16,167,000	20,045,000	17,153,000	-12,017,000
yoy	-25.26%	64.16%	89.84%	242.82%	-86.42%	-74.78%	203.17%	-112.14%	1518.30%	227.43%	-12.04%	-311.31%	-67.44%	-61.92%	-7.49%	-53.98%	122.88%	-616.38%	-60.11%	-59.61%	458.14%	-110.28%	15.95%	83.88%	-51.21%	110.79%	-53.04%	21.06%	-68.53%	-269.46%	212.04%	54.42%	-57.91%	-178.32%	-6.58%	-58.64%	176.61%	25.35%	2.29%	110.29%	-264.67%
qoq	51.52%	-74.44%	625.28%	-73.40%	232.80%	-70.44%	1209.78%	-98.95%	517.79%	255.39%	-152.43%	-240.58%	25.00%	-4.53%	25.96%	-78.34%	46.20%	131.92%	-37.34%	4.91%	-438.71%	-117.91%	-36.54%	1349.63%	-93.76%	102.02%	0.63%	284.66%	-73.04%	-55.00%	159.45%	0.00%	-245.15%	-182.86%	28.39%	-72.74%	170.08%	-1.17%	-43.15%	82.29%	22.40%	-19.35%	16.86%	-242.74%
net income margin %	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%
less net loss attributable to nci in:
operating partnership	-1,177,000	-836,000	-3,058,000	-432,000	-1,571,000	-550,000	-1,739,000	-118,000	-10,688,000	-1,555,000	-444,000	788,000	-547,000	-455,000	-506,000	-387,000	-1,688,000	-1,149,000	-584,000	-875,000	-787,000	225,000	-1,290,000	-2,308,000	-164,000	-2,662,000	-1,518,000	-2,355,000	-727,000	-2,688,000	-6,025,000	-2,328,000	-2,328,000	1,607,000	-1,967,000	-1,326,000	-4,138,000	-1,218,000	-1,239,000	-2,201,000	-1,154,000	-942,000	-1,179,000	-986,000	560,000
consolidated subsidiaries	275,000	230,000	243,000	248,000	186,000	163,000	474,000	276,000	4,000	133,000	143,000	240,000	-109,000	373,000	123,000	339,000	128,000	-1,190,000	150,000	79,000					1,000	2,000	22,000		-11,000	-11,000	-12,000	-11,000	-11,000	-11,000	-11,000	-11,000	-11,000	-4,000	-1,000	-2,000	4,000	1,000	-6,000	-5,000	-6,000
net income attributable to common shareholders	22,645,000	14,935,000	57,978,000	8,198,000	30,121,000	9,080,000	30,759,000	2,603,000	221,235,000	36,118,000	10,262,000	-19,118,000	13,675,000	11,383,000	11,626,000	9,486,000	42,453,000	27,766,000	12,547,000	19,920,000	18,959,000	-5,605,000	31,255,000	48,980,000	3,375,000	54,040,000	26,571,000	25,537,000	6,513,000	24,200,000	53,737,000	20,700,000	20,700,000	-14,277,000	17,178,000	13,583,000	50,586,000	19,044,000	19,265,000	33,868,000	18,638,000	15,226,000	18,860,000	16,162,000	-11,463,000
earnings per common share - basic:	180	120	460	70	250	70	260	20	1,880	310	90	-160	110	100	100	80	370	240	110	170	160	-50	270	400	20	450	220	220	50	210	470	180	180	-150	150	130	510	190	190	340	190	150	190	160	-120
earnings per common share - diluted:	180	120	460	70	250	70	260	20	1,880	310	90	-160	110	100	100	80	370	240	110	170	160	-50	270	400	20	450	220	220	60	210	470	180	180	-160	150	130	500	190	190	340	190	150	190	160	-120
weighted-average shares outstanding - basic	125,879,000	125,729,000	125,688,000	125,513,000	121,324,000	123,359,000	118,859,000	118,072,000	117,506,000	117,543,000	117,482,000	117,450,000	117,366,000	117,382,000	117,364,000	117,330,000	117,029,000	117,087,000	116,981,000	116,956,000	117,722,000	116,625,000	116,522,000	120,966,000	119,751,000	121,087,000	120,364,000	116,274,000	113,863,000	113,890,000	113,739,000	113,677,000	113,677,000	107,132,000	110,990,000	104,063,000	99,639,000	99,364,000	99,304,000	99,274,000	99,265,000	99,252,000	99,252,000	99,250,000
weighted-average shares outstanding - diluted	131,105,000	125,803,000	125,766,000	125,603,000	121,432,000	123,471,000	118,971,000	122,814,000	117,597,000	122,205,000	117,578,000	117,450,000	121,640,000	121,683,000	117,427,000	117,393,000	121,447,000	117,137,000	117,034,000	117,024,000	117,902,000	116,625,000	116,595,000	121,051,000	119,896,000	121,183,000	120,461,000	126,504,000	114,051,000	114,156,000	113,942,000	113,864,000	113,864,000	118,390,000	111,260,000	104,260,000	100,093,000	99,794,000	99,870,000	99,668,000	99,363,000	99,278,000	99,286,000	99,274,000
effective portion of change in fair value of derivatives	1,057,000	-578,000	-198,000	-188,000	222,000	-763,000	-53,000	293,000	-916,000	1,058,000	-21,000	-300,000	78,000	632,000	-54,000
comprehensive income	24,604,000	14,963,000	60,595,000	8,194,000	31,728,000	8,704,000	31,971,000	2,738,000	231,003,000	38,598,000	10,542,000	-20,446,000	14,409,000	12,097,000	11,955,000
less comprehensive loss attributable to nci in:
comprehensive income attributable to common shareholders	23,647,000	14,387,000	57,790,000	8,019,000	30,332,000	8,357,000	30,709,000	2,882,000	220,361,000	37,131,000	10,242,000	-19,406,000	13,750,000	11,989,000	11,574,000
other expense		1,680,000	1,343,000	1,327,000
gain on sale of real estate		233,000	49,462,000		23,469,000		13,447,000	1,902,000	217,352,000			356,000			353,000			6,926,000		11,722,000				39,775,000	413,000	39,716,000	11,550,000	16,953,000		2,185,000	50,440,000				202,000					15,618,000
real estate impairment loss												34,055,000																								303,000	3,164,000
loss on extinguishment of debt								-272,000			-489,000																							-34,062,000			-1,274,000
less comprehensive income attributable to nci in:
casualty and impairment loss																	96,000	372,000							3,668,000		5,112,000	3,958,000	5,674,000	58,000	35,000	-1,341,000		1,745,000	2,170,000
income tax benefit															-711,000		-234,000	-704,000	34,000		25,893,000	-459,000	13,662,000													-304,000				306,000
management and development fees																240,000	258,000	280,000	266,000	365,000	280,000	404,000	285,000	314,000	960,000	280,000	308,000	352,000	405,000	375,000	347,000	342,000	342,000	336,000	369,000	351,000	479,000	403,000	375,000	526,000	455,000	482,000	551,000	693,000
less net loss attributable to noncontrolling interests in:
gain on sale of lease																										1,849,000
less net income attributable to noncontrolling interests in:
property rentals																													57,554,250	85,949,000	74,546,000	69,722,000	69,722,000	69,153,000	69,625,000	64,708,000	62,498,000	60,048,000	59,138,000	58,683,000	58,929,000	58,790,000	58,111,000	57,380,000	57,586,000
tenant expense reimbursements																													20,169,500	25,784,000	26,222,000	28,672,000	28,672,000	27,508,000	23,938,000	23,881,000	23,771,000	22,647,000	19,888,000	19,879,000	22,507,000	20,675,000	19,188,000	20,451,000	24,303,000
income from acquired leasehold interest																																					39,215,000
ground rent																													3,238,000	2,722,000	2,752,000	2,736,000	2,736,000	2,851,000	2,891,000	2,436,000	2,670,000	2,518,000	2,508,000	2,483,000	2,538,000	2,523,000	2,527,000	2,565,000	2,514,000
provision for doubtful accounts																													1,550,000	79,000	1,273,000	1,236,000		1,771,000	575,000	906,000	193,000	220,000	149,000	494,000	351,000
operating income																													24,445,000	39,197,000	23,154,000	35,069,000	35,069,000	30,742,000	33,190,000	28,515,000	69,317,000	33,428,000	33,414,000	32,790,000	33,386,000	29,576,000	34,011,000	30,807,000	3,682,000
yoy																													-30.29%	27.50%	-30.24%	22.98%	-49.41%	-8.04%	-0.67%	-13.04%	107.62%	13.02%	-1.76%	6.44%	806.74%
qoq																													-37.64%	69.29%	-33.98%	0.00%	14.08%	-7.38%	16.39%	-58.86%	107.36%	0.04%	1.90%	-1.79%	12.88%	-13.04%	10.40%	736.69%
operating margin %	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	Infinity%
casualty and impairment (gain) loss																																	-1,341,000
benefit from doubtful accounts																																	1,236,000									387,000	427,000	389,000	323,000
transaction costs																																			95,000	132,000	51,000	1,098,000	223,000	34,000	50,000	1,574,000	151,000	427,000	21,859,000
less (net income) loss attributable to noncontrolling interests in:
less net (income) loss attributable to noncontrolling interests in:
weighted-average shares outstanding - basic and diluted																																													99,248,000

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-05-02	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31

assets
real estate, at cost:
land	676,038,000	647,633,000	648,943,000	658,707,000	660,198,000	646,276,000	666,774,000	645,435,000	635,905,000	541,961,000	543,083,000	531,594,000	535,770,000	544,358,000	546,913,000	542,131,000	543,827,000	557,890,000	556,850,000	563,346,000	568,662,000	527,749,000	527,480,000	529,809,000	515,621,000	500,411,000	516,177,000	525,027,000	525,819,000	533,859,000	530,658,000	523,798,000	523,798,000	521,669,000	522,085,000	522,098,000	436,088,000	384,217,000	381,550,000	378,997,000	382,513,000	389,080,000	374,543,000	374,543,000	378,096,000	378,096,000
buildings and improvements	2,878,759,000	2,822,238,000	2,813,916,000	2,790,212,000	2,791,728,000	2,703,798,000	2,741,636,000	2,692,470,000	2,678,076,000	2,517,038,000	2,500,534,000	2,469,064,000	2,468,385,000	2,464,901,000	2,455,859,000	2,454,897,000	2,441,797,000	2,364,061,000	2,325,577,000	2,331,880,000	2,326,450,000	2,332,337,000	2,325,299,000	2,336,405,000	2,197,076,000	2,169,835,000	2,155,036,000	2,174,923,000	2,156,113,000	2,132,712,000	2,060,960,000	2,005,590,000	2,005,590,000	2,010,527,000	2,013,767,000	1,992,386,000	1,719,079,000	1,650,054,000	1,623,465,000	1,587,158,000	1,613,510,000	1,630,539,000	1,616,769,000	1,612,112,000	1,633,649,000	1,632,228,000
construction in progress	358,886,000	300,372,000	292,704,000	288,768,000	289,057,000	246,815,000	232,690,000	254,525,000	262,275,000	280,341,000	273,929,000	292,915,000	314,190,000	271,898,000	258,330,000	223,698,000	212,296,000	108,915,000	55,461,000	40,629,000	44,689,000	42,779,000	42,019,000	28,629,000	28,522,000	43,671,000	78,320,000	73,649,000	80,385,000	79,488,000	125,664,000	165,403,000	165,403,000	133,761,000	117,830,000	123,009,000	108,401,000	99,236,000	105,936,000	124,098,000	94,506,000	61,147,000	53,209,000	49,349,000	11,864,000	8,545,000
furniture, fixtures and equipment	13,485,000	12,906,000	12,561,000	11,715,000	11,296,000	10,934,000	10,446,000	10,200,000	9,923,000	9,472,000	9,023,000	8,804,000	8,539,000	8,303,000	7,922,000	7,716,000	7,530,000	7,519,000	7,432,000	7,118,000	7,016,000	7,199,000	7,174,000	7,016,000	7,566,000	7,315,000	7,066,000	6,790,000	6,675,000	6,662,000	6,615,000	5,996,000	5,996,000	5,897,000	7,129,000	5,591,000	5,077,000	4,993,000	4,123,000	3,970,000	3,891,000	3,876,000	3,879,000	3,930,000
total	3,927,168,000	3,783,149,000	3,768,124,000	3,749,402,000	3,752,279,000	3,607,823,000	3,651,546,000	3,602,630,000	3,586,179,000	3,348,812,000	3,326,569,000	3,302,377,000	3,326,884,000	3,289,460,000	3,269,024,000	3,228,442,000	3,205,450,000	3,038,385,000	2,945,320,000	2,942,973,000	2,946,817,000	2,910,064,000	2,901,972,000	2,901,859,000	2,748,785,000	2,721,232,000	2,756,599,000	2,780,389,000	2,768,992,000	2,752,721,000	2,723,897,000	2,700,787,000	2,700,787,000	2,671,854,000	2,660,811,000	2,643,084,000	2,268,645,000	2,138,500,000	2,115,074,000	2,094,223,000	2,094,420,000	2,084,642,000	2,048,400,000	2,039,934,000	2,027,405,000	2,022,804,000
accumulated depreciation and amortization	-956,464,000	-923,769,000	-906,157,000	-891,200,000	-886,886,000	-868,892,000	-864,210,000	-837,790,000	-819,243,000	-842,328,000	-821,732,000	-801,391,000	-791,485,000	-790,414,000	-775,931,000	-772,789,000	-753,947,000	-768,329,000	-755,833,000	-741,874,000	-730,366,000	-719,755,000	-700,362,000	-686,139,000	-671,946,000	-662,713,000	-661,909,000	-661,435,000	-645,872,000	-633,675,000	-616,284,000	-601,729,000	-601,729,000	-587,127,000	-586,187,000	-568,980,000	-553,649,000	-541,077,000	-531,623,000	-518,215,000	-519,775,000	-509,112,000	-500,654,000	-489,256,000	-479,254,000	-467,503,000
real estate	2,970,704,000	2,859,380,000	2,861,967,000	2,858,202,000	2,865,393,000	2,738,931,000	2,787,336,000	2,764,840,000	2,766,936,000	2,506,484,000	2,504,837,000	2,500,986,000	2,535,399,000	2,499,046,000	2,493,093,000	2,455,653,000	2,451,503,000	2,270,056,000	2,189,487,000	2,201,099,000	2,216,451,000	2,190,309,000	2,201,610,000	2,215,720,000	2,076,839,000	2,058,519,000	2,094,690,000	2,118,954,000	2,123,120,000	2,119,046,000	2,107,613,000	2,099,058,000	2,099,058,000	2,084,727,000	2,074,624,000	2,074,104,000	1,714,996,000	1,597,423,000	1,583,451,000	1,576,008,000	1,574,645,000	1,575,530,000	1,547,746,000	1,550,678,000	1,548,151,000	1,555,301,000
operating lease right-of-use assets	57,225,000	60,486,000	62,116,000	63,797,000	65,491,000	56,928,000	55,575,000	50,711,000	56,988,000	57,377,000	59,193,000	62,386,000	64,161,000	64,078,000	65,858,000	67,618,000	69,361,000	75,654,000	77,428,000	79,185,000	80,997,000				81,768,000
cash and cash equivalents	49,996,000	77,796,000	52,962,000	48,049,000	41,373,000	67,915,000	78,615,000	67,303,000	101,123,000	50,793,000	48,930,000	62,142,000	85,518,000	108,437,000	125,483,000	151,789,000	164,478,000	268,952,000	321,200,000	324,508,000	384,572,000	646,432,000	615,579,000	622,667,000	432,954,000	441,561,000	412,126,000	416,668,000	440,430,000	449,307,000	500,930,000	462,774,000	462,774,000	490,279,000	380,395,000	248,407,000	110,974,000	131,654,000	149,698,000	156,672,000	162,354,000	168,983,000	197,338,000	193,355,000	199,011,000	2,600,000
restricted cash	25,870,000	66,998,000	65,239,000	50,043,000	49,267,000	21,729,000	22,591,000	27,748,000	73,125,000	27,131,000	44,496,000	49,044,000	43,256,000	43,954,000	45,838,000	46,238,000	55,358,000	53,840,000	57,833,000	52,412,000	34,681,000	24,564,000	24,256,000	19,976,000	52,182,000	94,785,000	51,473,000	32,120,000	17,092,000	16,269,000	13,057,000	10,817,000	10,817,000	10,562,000	8,363,000	14,422,000	11,812,000	8,532,000								9,967,000
tenant and other receivables	33,881,000	24,226,000	25,272,000	26,934,000	20,672,000	19,567,000	25,077,000	16,373,000	14,712,000	15,823,000	15,911,000	15,800,000	17,523,000	16,398,000	14,366,000	17,318,000	15,812,000	18,178,000	15,823,000	16,549,000	15,673,000	24,376,000	28,410,000	19,006,000
receivables arising from the straight-lining of rents	64,205,000				61,164,000				60,775,000				64,713,000				62,692,000				62,106,000
identified intangible assets, net of accumulated amortization of 69,080 and 70,514, respectively	91,057,000
deferred leasing costs, net of accumulated amortization of 22,671 and 21,982, respectively	31,193,000
prepaid expenses and other assets	64,830,000	57,985,000	58,315,000	72,981,000	70,554,000	111,804,000	64,594,000	89,209,000	64,555,000	73,969,000	77,024,000	79,913,000	77,207,000	77,649,000	71,977,000	70,620,000	74,111,000	65,565,000	73,184,000	70,198,000	70,311,000	29,167,000	27,488,000	27,372,000	33,700,000	18,949,000	30,886,000	12,854,000	12,968,000	16,194,000	12,228,000	17,244,000	17,244,000	18,559,000	16,917,000	9,245,000	17,271,000	17,442,000	14,937,000	8,360,000	10,160,000	10,988,000	12,007,000	7,525,000	10,161,000	10,257,000
total assets	3,388,961,000	3,328,061,000	3,313,551,000	3,312,010,000	3,311,540,000	3,211,718,000	3,235,696,000	3,214,065,000	3,279,809,000	2,881,844,000	2,903,129,000	2,923,644,000	2,977,432,000	2,961,492,000	2,970,299,000	2,961,237,000	2,985,116,000	2,881,821,000	2,865,934,000	2,876,882,000	2,939,560,000	3,134,315,000	3,125,107,000	3,143,600,000	2,846,358,000	2,873,878,000	2,858,419,000	2,874,427,000	2,798,994,000	2,810,847,000	2,840,555,000	2,803,378,000	2,803,378,000	2,820,808,000	2,706,512,000	2,563,704,000	2,050,351,000	1,904,138,000	1,906,526,000	1,899,390,000	1,907,994,000	1,918,931,000	1,927,721,000	1,929,422,000	1,936,468,000
liabilities and equity
liabilities:
mortgages payable	1,665,218,000	1,632,163,000	1,514,237,000	1,567,248,000	1,569,753,000	1,515,379,000	1,503,030,000	1,525,345,000	1,578,110,000	1,643,333,000	1,683,328,000	1,686,897,000	1,691,690,000	1,695,776,000	1,699,844,000	1,682,929,000	1,687,190,000	1,573,702,000	1,577,413,000	1,584,978,000	1,587,532,000	1,590,304,000	1,584,724,000	1,616,853,000	1,546,195,000	1,547,486,000	1,548,944,000	1,549,479,000	1,550,242,000	1,550,995,000	1,551,788,000	1,552,543,000	1,552,543,000	1,564,542,000	1,408,066,000	1,412,397,000	1,256,955,000	1,197,513,000	1,201,466,000	1,205,278,000	1,230,349,000		1,246,155,000	1,250,031,000	1,253,889,000	1,288,535,000
unsecured line of credit	30,000,000
operating lease liabilities	54,710,000	57,822,000	59,376,000	60,980,000	62,585,000	53,943,000	52,556,000	47,639,000	53,863,000	54,197,000	55,958,000	58,103,000	59,789,000	59,581,000	61,265,000	62,931,000	64,578,000	70,071,000	71,708,000	73,327,000	74,972,000				79,913,000
accounts payable, accrued expenses and other liabilities	83,799,000	88,789,000	85,910,000	81,772,000	89,982,000	130,985,000	88,523,000	97,385,000	102,997,000	90,017,000	88,304,000	94,766,000	102,519,000	78,710,000	74,913,000	75,962,000	84,829,000	94,514,000	74,993,000	71,745,000	132,980,000	68,396,000	58,374,000	69,350,000	76,644,000	80,161,000	85,034,000	85,424,000	98,517,000
identified intangible liabilities, net of accumulated amortization of 62,274 and 59,668, respectively	173,780,000
total liabilities	2,007,507,000	1,942,460,000	1,920,947,000	1,959,418,000	1,949,816,000	1,872,808,000	1,969,946,000	1,991,682,000	2,058,381,000	1,874,547,000	1,916,631,000	1,931,155,000	1,947,326,000	1,929,438,000	1,933,349,000	1,920,104,000	1,937,222,000	1,866,766,000	1,866,944,000	1,875,512,000	1,943,667,000	2,110,431,000	2,097,997,000	2,145,377,000	1,831,582,000	1,838,165,000	1,848,733,000	1,868,335,000	1,793,017,000	1,787,593,000	1,818,623,000	1,815,948,000	1,815,948,000	1,830,267,000	1,674,438,000	1,679,635,000	1,473,143,000	1,408,021,000	1,412,747,000	1,411,126,000	1,436,517,000	1,447,477,000	1,448,804,000	1,450,424,000	1,454,393,000	1,482,666,000
commitments and contingencies
shareholders’ equity:
common shares: 0.01 par value...	1,258,000	1,256,000	1,256,000	1,256,000	1,253,000	1,247,000	1,203,000	1,186,000	1,175,000	1,175,000	1,175,000	1,174,000	1,173,000	1,173,000	1,173,000	1,173,000	1,170,000	1,170,000	1,170,000	1,170,000	1,169,000	1,166,000	1,166,000	1,179,000	1,213,000	1,212,000	1,212,000	1,201,000	1,143,000	1,141,000	1,140,000	1,139,000	1,139,000	1,138,000	1,138,000	1,075,000	998,000	997,000	996,000	994,000	994,000	993,000	993,000	993,000	993,000
additional paid-in capital	1,165,097,000	1,160,653,000	1,159,588,000	1,154,780,000	1,149,981,000	1,135,191,000	1,052,199,000	1,022,710,000	1,011,942,000	1,013,306,000	1,012,825,000	1,010,522,000	1,011,293,000	1,006,348,000	1,002,679,000	1,001,006,000	1,001,253,000	997,085,000	990,255,000	987,518,000	989,863,000	987,436,000	984,933,000	986,489,000	1,019,149,000	1,016,054,000	1,015,470,000	1,005,129,000	956,420,000	951,959,000	950,958,000	947,815,000	947,815,000	946,402,000	945,047,000	683,889,000	489,190,000	488,375,000	483,402,000	477,673,000	476,227,000	475,369,000	478,314,000	477,596,000	366,305,000
accumulated other comprehensive income	299,000	-738,000	-190,000	-2,000	177,000	-34,000	689,000	739,000	460,000	1,334,000	321,000	341,000	629,000	554,000
accumulated earnings	120,752,000	136,067,000	145,043,000	110,970,000	126,670,000	117,880,000	130,033,000	119,513,000	137,113,000														1,012,000														-419,000					-38,442,000	-33,852,000	-32,897,000	-29,245,000
noncontrolling interests:
operating partnership	74,534,000	69,794,000	68,620,000	67,262,000	65,069,000	69,255,000	66,092,000	63,128,000	55,355,000	42,166,000	40,021,000	40,262,000	39,209,000	41,387,000	42,771,000	42,001,000	39,616,000	40,006,000	43,568,000	43,523,000	38,456,000	39,451,000	39,575,000	40,374,000	46,536,000	47,239,000	49,157,000	55,976,000	100,822,000	103,937,000	102,714,000	100,036,000	100,036,000	100,218,000
consolidated subsidiaries	19,514,000	18,569,000	18,287,000	18,326,000	18,574,000	15,371,000	15,534,000	15,107,000	15,383,000	14,611,000	14,744,000	14,224,000	13,906,000	13,574,000	13,947,000	13,352,000	12,946,000	8,762,000	6,154,000	6,304,000	5,872,000	424,000	424,000	424,000	424,000	425,000	427,000	449,000	449,000	438,000	427,000	415,000	415,000	404,000
total equity	1,381,454,000	1,385,601,000	1,392,604,000	1,352,592,000	1,361,724,000	1,338,910,000	1,265,750,000	1,222,383,000	1,221,428,000	1,007,297,000	986,498,000	992,489,000	1,030,106,000	1,032,054,000	1,036,950,000	1,041,133,000	1,047,894,000	1,015,055,000	998,990,000	1,001,370,000	995,893,000	1,023,884,000	1,027,110,000	998,223,000	1,014,776,000	1,035,713,000	1,009,686,000	1,006,092,000	1,005,977,000	1,023,254,000	1,021,932,000	987,430,000	987,430,000	990,541,000	1,032,074,000	884,069,000	577,208,000	496,117,000	493,779,000	488,264,000	471,477,000	471,454,000	478,917,000	478,998,000	338,400,000	258,863,000
total liabilities and equity	3,388,961,000	3,328,061,000	3,313,551,000	3,312,010,000	3,311,540,000	3,211,718,000	3,235,696,000	3,214,065,000	3,279,809,000	2,881,844,000	2,903,129,000	2,923,644,000	2,977,432,000	2,961,492,000	2,970,299,000	2,961,237,000	2,985,116,000	2,881,821,000	2,865,934,000	2,876,882,000	2,939,560,000	3,134,315,000	3,125,107,000	3,143,600,000	2,846,358,000	2,873,878,000	2,858,419,000	2,874,427,000	2,798,994,000	2,810,847,000	2,840,555,000	2,803,378,000	2,803,378,000	2,820,808,000	2,706,512,000	2,563,704,000	2,050,351,000	1,904,138,000	1,906,526,000	1,899,390,000	1,907,994,000	1,918,931,000	1,927,721,000	1,929,422,000
receivable arising from the straight-lining of rents		62,933,000	62,228,000	61,942,000		61,045,000	60,159,000	60,062,000		67,499,000	66,424,000	65,543,000		64,214,000	63,749,000	63,203,000		61,444,000	61,240,000	60,980,000		64,171,000	68,410,000	74,348,000																					89,281,000	89,199,000
identified intangible assets, net of accumulated amortization of 66,760 and 65,027, respectively		87,280,000
deferred leasing costs, net of accumulated amortization of 21,871 and 22,488, respectively		30,977,000
unsecured credit facility			90,000,000	75,000,000	50,000,000		150,000,000	153,000,000
identified intangible liabilities, net of accumulated amortization of 57,487 and 50,275, respectively		163,686,000
identified intangible assets, net of accumulated amortization of 66,352 and 65,027, respectively			95,096,000
deferred leasing costs, net of accumulated amortization of 20,741 and 22,488, respectively			30,356,000
identified intangible liabilities, net of accumulated amortization of 55,347 and 50,275, respectively			171,424,000
identified intangible assets, net of accumulated amortization of 64,425 and 65,027, respectively				101,455,000
deferred leasing costs, net of accumulated amortization of 20,008 and 22,488, respectively				28,607,000
identified intangible liabilities, net of accumulated amortization of 53,016 and 50,275, respectively				174,418,000
identified intangible assets, net of accumulated amortization of 65,027 and 51,399, respectively					109,827,000
deferred leasing costs, net of accumulated amortization of 22,488 and 21,428, respectively					27,799,000
identified intangible liabilities, net of accumulated amortization of 50,275 and 46,610, respectively					177,496,000
identified intangible assets, net of accumulated amortization of 61,892 and 51,399, respectively						105,889,000
deferred leasing costs, net of accumulated amortization of 21,866 and 21,428, respectively						27,910,000
identified intangible liabilities, net of accumulated amortization of 50,955 and 46,610, respectively						172,501,000
identified intangible assets, net of accumulated amortization of 58,266 and 51,399, respectively							114,526,000
deferred leasing costs, net of accumulated amortization of 21,628 and 21,428, respectively							27,223,000
identified intangible liabilities, net of accumulated amortization of 48,718 and 46,610, respectively							175,837,000
identified intangible assets, net of accumulated amortization of 55,976 and 51,399, respectively								110,486,000
deferred leasing costs, net of accumulated amortization of 21,074 and 21,428, respectively								27,333,000
identified intangible liabilities, net of accumulated amortization of 46,397 and 46,610, respectively								168,313,000
identified intangible assets, net of accumulated amortization of 51,399 and 40,983, respectively									113,897,000
deferred leasing costs, net of accumulated amortization of 21,428 and 20,107, respectively									27,698,000
unsecured credit facility borrowings									153,000,000													250,000,000	250,000,000	250,000,000
identified intangible liabilities, net of accumulated amortization of 46,610 and 40,816, respectively									170,411,000
identified intangible assets, net of accumulated amortization of 46,448 and 40,983, respectively										54,823,000
deferred leasing costs, net of accumulated amortization of 21,928 and 20,107, respectively										27,945,000
identified intangible liabilities, net of accumulated amortization of 45,929 and 40,816, respectively										87,000,000
accumulated deficit										-65,295,000	-82,588,000	-74,034,000	-36,104,000	-30,982,000	-23,568,000	-16,399,000	-7,091,000	-31,968,000	-42,157,000	-37,145,000	-39,467,000	-4,593,000		-30,243,000	-52,546,000	-29,217,000	-56,580,000	-56,663,000	-52,857,000	-34,221,000	-33,307,000	-61,975,000	-61,975,000	-57,621,000	-18,322,000	-10,479,000		-29,066,000	-26,203,000	-25,616,000	-39,638,000
identified intangible assets, net of accumulated amortization of 44,199 and 40,983, respectively											57,407,000
deferred leasing costs, net of accumulated amortization of 21,414 and 20,107, respectively											28,907,000
identified intangible liabilities, net of accumulated amortization of 44,384 and 40,816, respectively											89,041,000
identified intangible assets, net of accumulated amortization of 42,613 and 40,983, respectively												60,181,000
deferred leasing costs, net of accumulated amortization of 20,529 and 20,107, respectively												27,649,000
identified intangible liabilities, net of accumulated amortization of 42,719 and 40,816, respectively												91,389,000
identified intangible assets, net of accumulated amortization of 40,983 and 37,361, respectively													62,856,000
deferred leasing costs, net of accumulated amortization of 20,107 and 17,641, respectively													26,799,000
identified intangible liabilities, net of accumulated amortization of 40,816 and 35,029, respectively													93,328,000
identified intangible assets, net of accumulated amortization of 39,307 and 37,361, respectively														65,974,000
deferred leasing costs, net of accumulated amortization of 19,621 and 17,641, respectively														21,742,000
identified intangible liabilities, net of accumulated amortization of 39,040 and 35,029, respectively														95,371,000
identified intangible assets, net of accumulated amortization of 39,845 and 37,361, respectively															68,886,000
deferred leasing costs, net of accumulated amortization of 19,006 and 17,641, respectively															21,049,000
identified intangible liabilities, net of accumulated amortization of 38,026 and 35,029, respectively															97,327,000
accumulated other comprehensive loss															-52,000
identified intangible assets, net of accumulated amortization of 37,024 and 37,361, respectively																68,007,000
deferred leasing costs, net of accumulated amortization of 18,351 and 17,641, respectively																20,791,000
identified intangible liabilities, net of accumulated amortization of 36,082 and 35,029, respectively																98,282,000
identified intangible assets, net of accumulated amortization of 37,361 and 37,009, respectively																	71,107,000
deferred leasing costs, net of accumulated amortization of 17,641 and 16,419, respectively																	20,694,000
identified intangible liabilities, net of accumulated amortization of 35,029 and 71,375, respectively																	100,625,000
identified intangible assets, net of accumulated amortization of 37,582 and 37,009, respectively																		50,719,000
deferred leasing costs, net of accumulated amortization of 16,915 and 16,419, respectively																		17,413,000
identified intangible liabilities, net of accumulated amortization of 83,596 and 71,375, respectively																		128,479,000
identified intangible assets, net of accumulated amortization of 35,995 and 37,009, respectively																			51,536,000
deferred leasing costs, net of accumulated amortization of 16,512 and 16,419, respectively																			18,203,000
identified intangible liabilities, net of accumulated amortization of 76,513 and 71,375, respectively																			142,830,000
identified intangible assets, net of accumulated amortization of 33,980 and 37,009, respectively																				53,714,000
deferred leasing costs, net of accumulated amortization of 16,494 and 16,419, respectively																				18,237,000
identified intangible liabilities, net of accumulated amortization of 73,898 and 71,375, respectively																				145,462,000
identified intangible assets, net of accumulated amortization of 37,009 and 30,942, respectively																					56,184,000
deferred leasing costs, net of accumulated amortization of 16,419 and 16,560, respectively																					18,585,000
identified intangible liabilities, net of accumulated amortization of 71,375 and 62,610, respectively																					148,183,000
right-of-use assets																						77,183,000	77,957,000	79,962,000		83,523,000	85,404,000	96,466,000
identified intangible assets, net of accumulated amortization of 35,057 and 30,942, respectively																						54,870,000
deferred leasing costs, net of accumulated amortization of 17,054 and 16,560, respectively																						19,618,000
deferred financing costs, net of accumulated amortization of 4,540 and 3,765, respectively																						3,625,000
lease liabilities																						75,965,000	76,528,000	78,334,000		81,428,000	83,050,000	91,906,000
identified intangible liabilities, net of accumulated amortization of 69,368 and 62,610, respectively																						125,766,000
identified intangible assets, net of accumulated amortization of 32,755 and 30,942, respectively																							57,332,000
deferred leasing costs, net of accumulated amortization of 16,478 and 16,560, respectively																							20,162,000
deferred financing costs, net of accumulated amortization of 4,262 and 3,765, respectively																							3,903,000
identified intangible liabilities, net of accumulated amortization of 67,446 and 62,610, respectively																							128,371,000
identified intangible assets, net of accumulated amortization of 32,359 and 30,942, respectively																								59,810,000
deferred leasing costs, net of accumulated amortization of 16,291 and 16,560, respectively																								21,105,000
deferred financing costs, net of accumulated amortization of 4,008 and 3,765, respectively																								3,634,000
identified intangible liabilities, net of accumulated amortization of 65,074 and 62,610, respectively																								130,840,000
tenant and other receivables, net of allowance for doubtful accounts of 6,486 as of december 31, 2018																									21,565,000	27,240,000	32,643,000	39,002,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 134 as of december 31, 2018																									73,878,000	75,418,000
identified intangible assets, net of accumulated amortization of 30,942 and 39,526, respectively																									48,121,000
deferred leasing costs, net of accumulated amortization of 16,560 and 16,826, respectively																									21,474,000
deferred financing costs, net of accumulated amortization of 3,765 and 2,764, respectively																									3,877,000
identified intangible liabilities, net of accumulated amortization of 62,610 and 65,058, respectively																									128,830,000
identified intangible assets, net of accumulated amortization of 30,214 and 39,526, respectively																										49,527,000
deferred leasing costs, net of accumulated amortization of 16,326 and 16,826, respectively																										20,263,000
deferred financing costs, net of accumulated amortization of 3,543 and 2,764, respectively																										4,093,000
identified intangible liabilities, net of accumulated amortization of 68,483 and 65,058, respectively																										129,090,000
receivable arising from the straight-lining of rents, net of 134 as of december 31, 2018																											77,189,000	80,848,000
identified intangible assets, net of accumulated amortization of 29,479 and 39,526, respectively																											51,618,000
deferred leasing costs, net of accumulated amortization of 16,615 and 16,826, respectively																											20,667,000
deferred financing costs, net of accumulated amortization of 3,276 and 2,764, respectively																											1,723,000
identified intangible liabilities, net of accumulated amortization of 66,613 and 65,058, respectively																											131,705,000
identified intangible assets, net of accumulated amortization of 29,582 and 39,526, respectively																												53,994,000
deferred leasing costs, net of accumulated amortization of 17,236 and 16,826, respectively																												21,558,000
deferred financing costs, net of accumulated amortization of 3,020 and 2,764, respectively																												1,963,000
identified intangible liabilities, net of accumulated amortization of 67,223 and 65,058, respectively																												141,526,000
tenant and other receivables, net of allowance for doubtful accounts of 6,486 and 4,937, respectively																													28,563,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 134 and 494, respectively																													84,903,000
identified intangible assets, net of accumulated amortization of 39,526 and 33,827, respectively																													68,422,000
deferred leasing costs, net of accumulated amortization of 16,826 and 14,796, respectively																													21,277,000
deferred financing costs, net of accumulated amortization of 2,764 and 1,740, respectively																													2,219,000
identified intangible liabilities, net of accumulated amortization of 65,058 and 65,832, respectively																													144,258,000
tenant and other receivables, net of allowance for doubtful accounts of 6,485 and 4,937, respectively																														28,799,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 662 and 494, respectively																														84,828,000
identified intangible assets, net of accumulated amortization of 38,905 and 33,827, respectively																														72,841,000
deferred leasing costs, net of accumulated amortization of 16,043 and 14,796, respectively																														21,088,000
deferred financing costs, net of accumulated amortization of 2,508 and 1,740, respectively																														2,475,000
accounts payable and accrued expenses																														70,227,000	80,768,000	71,061,000	71,061,000	69,595,000	65,769,000	63,388,000	54,286,000	48,842,000	47,558,000	39,889,000	39,508,000	45,331,000	38,008,000	31,968,000	32,705,000	26,924,000
identified intangible liabilities, net of accumulated amortization of 64,252 and 65,832, respectively																														148,715,000
other liabilities																														17,656,000	17,527,000	15,574,000	15,574,000	15,171,000	16,542,000	16,627,000	16,154,000	14,675,000	14,842,000	14,898,000	13,702,000	13,308,000	10,134,000	11,889,000	9,187,000	6,540,000
tenant and other receivables, net of allowance for doubtful accounts of 6,176 and 4,937, respectively																															23,017,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 562 and 494, respectively																															84,378,000
identified intangible assets, net of accumulated amortization of 39,770 and 33,827, respectively																															76,310,000
deferred leasing costs, net of accumulated amortization of 15,809 and 14,796, respectively																															20,291,000
deferred financing costs, net of accumulated amortization of 2,252 and 1,740, respectively																															2,731,000
identified intangible liabilities, net of accumulated amortization of 68,938 and 65,832, respectively																															168,540,000
tenant and other receivables, net of allowance for doubtful accounts of 5,854 and 4,937, respectively																																21,564,000	21,564,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 528 and 494, respectively																																85,727,000	85,727,000
identified intangible assets, net of accumulated amortization of 36,629 and 33,827, respectively																																82,787,000	82,787,000
deferred leasing costs, net of accumulated amortization of 15,390 and 14,796, respectively																																20,422,000	20,422,000
deferred financing costs, net of accumulated amortization of 1,998 and 1,740, respectively																																2,985,000	2,985,000
identified intangible liabilities, net of accumulated amortization of 66,866 and 65,832, respectively																																176,770,000	176,770,000
tenant and other receivables, net of allowance for doubtful accounts of 4,937 and 2,332, respectively																																		20,078,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 494 and 261, respectively																																		85,843,000
identified intangible assets, net of accumulated amortization of 33,827 and 22,361, respectively																																		87,249,000
deferred leasing costs, net of accumulated amortization of 14,796 and 13,909, respectively																																		20,268,000
deferred financing costs, net of accumulated amortization of 1,740 and 726, respectively																																		3,243,000
identified intangible liabilities, net of accumulated amortization of 65,832 and 72,528, respectively																																		180,959,000
tenant and other receivables, net of allowance for doubtful accounts of 3,469 and 2,332, respectively																																			24,063,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 260 and 261, respectively																																			85,853,000
identified intangible assets, net of accumulated amortization of 29,771 and 22,361, respectively																																			91,305,000
deferred leasing costs, net of accumulated amortization of 15,556 and 13,909, respectively																																			20,500,000
deferred financing costs, net of accumulated amortization of 1,484 and 726, respectively																																			4,492,000
identified intangible liabilities, net of accumulated amortization of 63,468 and 72,528, respectively																																			184,061,000
redeemable noncontrolling interests																																			103,818,000	209,202,000	87,068,000	35,451,000	35,228,000	34,858,000	33,541,000	33,177,000	33,104,000	32,954,000	143,675,000
noncontrolling interest in consolidated subsidiaries																																			393,000	382,000	371,000	360,000	356,000	355,000	353,000	357,000	358,000	352,000
tenant and other receivables, net of allowance for doubtful accounts of 2,947 and 2,332, respectively																																				13,299,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 324 and 261, respectively																																				85,737,000
identified intangible assets, net of accumulated amortization of 26,140 and 22,361, respectively																																				94,964,000
deferred leasing costs, net of accumulated amortization of 14,910 and 13,909, respectively																																				19,771,000
deferred financing costs, net of accumulated amortization of 1,228 and 726, respectively																																				3,755,000
identified intangible liabilities, net of accumulated amortization of 60,937 and 72,528, respectively																																				187,223,000
tenant and other receivables, net of allowance for doubtful accounts of 2,557 and 2,332, respectively																																					11,841,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 207 and 261, respectively																																					86,176,000
identified intangible assets, net of accumulated amortization of 23,693 and 22,361, respectively																																					73,879,000
deferred leasing costs, net of accumulated amortization of 14,555 and 13,909, respectively																																					19,391,000
deferred financing costs, net of accumulated amortization of 972 and 726, respectively																																					4,011,000
identified intangible liabilities, net of accumulated amortization of 58,657 and 72,528, respectively																																					145,748,000
tenant and other receivables, net of allowance for doubtful accounts of 2,332 and 1,926, respectively																																						9,340,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 261 and 148, respectively																																						87,695,000
identified intangible assets, net of accumulated amortization of 22,361 and 22,090, respectively																																						30,875,000
deferred leasing costs, net of accumulated amortization of 13,909 and 12,987, respectively																																						19,241,000
deferred financing costs, net of accumulated amortization of 726 and 709, respectively																																						1,936,000
identified intangible liabilities, net of accumulated amortization of 72,528 and 65,220, respectively																																						146,991,000
cash held in escrow and restricted cash																																							7,653,000	8,995,000	8,081,000	9,042,000	9,832,000	10,792,000	12,935,000
tenant and other receivables, net of allowance for doubtful accounts of 2,324 and 1,926, respectively																																							10,380,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 336 and 148, respectively																																							87,884,000
identified intangible assets, net of accumulated amortization of 21,734 and 22,090, respectively																																							31,502,000
deferred leasing costs, net of accumulated amortization of 13,707 and 12,987, respectively																																							18,844,000
deferred financing costs, net of accumulated amortization of 484 and 709, respectively																																							2,177,000
identified intangible liabilities, net of accumulated amortization of 70,639 and 65,220, respectively																																							148,881,000
tenant and other receivables, net of allowance for doubtful accounts of 2,270 and 1,926, respectively																																								8,317,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 370 and 148, respectively																																								87,925,000
identified intangible assets, net of accumulated amortization of 21,459 and 22,090, respectively																																								32,586,000
deferred leasing costs, net of accumulated amortization of 13,438 and 12,987, respectively																																								18,108,000
deferred financing costs, net of accumulated amortization of 242 and 709, respectively																																								2,419,000
identified intangible liabilities, net of accumulated amortization of 69,013 and 65,220, respectively																																								151,061,000
tenant and other receivables, net of allowance for doubtful accounts of 2,061 and 1,926, respectively																																									9,306,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 181 and 148, respectively																																									89,046,000
identified intangible assets, net of accumulated amortization of 22,781 and 22,090, respectively																																									33,262,000
deferred leasing costs, net of accumulated amortization of 13,503 and 12,987, respectively																																									18,479,000
deferred financing costs, net of accumulated amortization of 887 and 709, respectively																																									2,661,000
identified intangible liabilities, net of accumulated amortization of 67,117 and 65,220, respectively																																									152,958,000
tenant and other receivables, net of allowance for doubtful accounts of 1,926 and 2,432, respectively																																										10,364,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 148 and 0, respectively																																										88,778,000
identified intangible assets, net of accumulated amortization of 22,090 and 20,672, respectively																																										33,953,000
deferred leasing costs, net of accumulated amortization of 12,987 and 12,121, respectively																																										18,455,000
deferred financing costs, net of accumulated amortization of 709 and 0, respectively																																										2,838,000
mortgages payable, net of unamortized debt issuance costs of 8,282 and 10,353, respectively																																										1,233,983,000
identified intangible liabilities, net of accumulated amortization of 65,220 and 62,395, respectively																																										154,855,000
vornado equity																																														258,522,000
tenant and other receivables, net of allowance for doubtful accounts of 2,106 and 2,432, respectively																																											9,741,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 149 and 0, respectively																																											88,888,000
identified intangible assets, net of accumulated amortization of 21,660 and 20,672, respectively																																											32,793,000
deferred leasing costs, net of accumulated amortization of 13,057 and 12,121, respectively																																											17,674,000
deferred financing costs, net of accumulated amortization of 7,394 and 6,813, respectively																																											11,702,000
identified intangible liabilities, net of accumulated amortization of 63,373 and 62,395, respectively																																											154,507,000
tenant and other receivables, net of allowance for doubtful accounts of 2,197 and 2,432, respectively																																												15,201,000
receivable arising from the straight-lining of rents, net of allowance for doubtful accounts of 121 and 0, respectively																																												88,966,000
identified intangible assets, net of accumulated amortization of 21,775 and 20,672, respectively																																												33,416,000
deferred leasing costs, net of accumulated amortization of 12,632 and 12,121, respectively																																												17,205,000
deferred financing costs, net of accumulated amortization of 6,812 and 6,813, respectively																																												12,284,000
identified intangible liabilities, net of accumulated amortization of 66,168 and 62,395, respectively																																												156,536,000
leasehold improvements and equipment																																													3,796,000	3,935,000
tenant and other receivables, net of allowance for doubtful accounts of 2,350 and 2,432, respectively																																													12,485,000
identified intangible assets, net of accumulated amortization of 21,299 and 20,672, respectively																																													34,089,000
deferred leasing costs, net of accumulated amortization of 12,483 and 12,121, respectively																																													17,412,000
deferred financing costs, net of accumulated amortization of 6,338 and 6,813, respectively																																													12,943,000
liabilities, redeemable noncontrolling interests and equity
identified intangible liabilities, net of accumulated amortization of 64,092 and 62,395, respectively																																													158,612,000
noncontrolling interest																																													347,000	341,000
tenant and other receivables, net of allowance for doubtful accounts of 2,432 and 2,398, respectively																																														11,424,000
identified intangible assets, net of accumulated amortization of 20,672 and 20,276, respectively																																														34,775,000
deferred leasing costs, net of accumulated amortization of 12,121 and 11,868, respectively																																														17,653,000
deferred financing costs, net of accumulated amortization of 6,813 and 5,153, respectively																																														10,353,000
identified intangible liabilities, net of accumulated amortization of 62,395 and 63,603, respectively																																														160,667,000
revenue
property rentals																																														232,592,000
tenant expense reimbursements																																														81,887,000
income from stop & shop settlement
other income																																														1,197,000
total revenue																																														315,676,000
expenses
depreciation and amortization																																														53,653,000
real estate taxes																																														49,835,000
property operating																																														51,988,000
general and administrative																																														17,820,000
real estate impairment losses
ground rent																																														10,304,000
transaction costs																																														8,604,000
benefit from doubtful accounts																																														1,032,000
total expenses																																														193,236,000
operating income																																														122,440,000
interest income																																														35,000
interest and debt expense																																														-54,960,000
income before income taxes																																														67,515,000
income tax expense																																														-1,721,000
net income																																														65,794,000
net (income) loss attributable to noncontrolling interest																																														-22,000
net income attributable to vornado																																														65,772,000

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-05-02	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31

cash flows from operating activities
net income	23,547,000	15,541,000	60,793,000	8,382,000	31,506,000	9,467,000	32,024,000	2,445,000	231,919,000	37,540,000	10,563,000	-20,146,000	14,331,000	11,465,000	12,009,000	9,534,000	44,013,000	30,105,000	12,981,000	20,716,000	19,747,000	-5,830,000	32,545,000	51,288,000	3,538,000	56,700,000	28,067,000	27,892,000	7,251,000	26,899,000	59,774,000	23,039,000	23,039,000	-15,873,000	19,156,000	14,920,000	54,735,000	20,266,000	20,505,000	36,071,000	19,788,000	16,167,000	20,045,000	17,153,000	-12,017,000
adjustments to reconcile net income to net cash from operating activities:
depreciation and amortization	32,399,000	38,289,000	34,151,000	38,659,000	38,897,000	35,941,000	40,656,000	39,495,000	32,783,000	27,837,000	26,336,000	25,812,000	25,611,000	25,026,000	25,182,000	24,968,000	24,263,000	23,613,000	22,929,000	23,330,000	28,899,000	22,585,000	22,996,000	23,271,000	28,140,000	21,414,000	22,484,000	21,747,000	26,038,000	21,980,000	30,615,000	21,430,000	21,430,000	21,935,000	21,136,000	23,280,000	16,160,000	14,496,000	14,693,000	13,816,000	14,173,000	16,731,000	13,603,000	14,233,000	13,732,000
loss on extinguishment of debt	212,000			-498,000			-21,699,000	272,000																					0	0	0	-2,524,000		34,062,000	0	0	1,274,000
amortization of deferred financing costs and premiums/discounts on debt obligations	1,516,000
amortization of above and below market leases	-2,636,000	-7,133,000	-2,455,000	-2,585,000
amortization of lease incentives	106,000
noncash lease expense	1,691,000	1,630,000	1,681,000	1,694,000	1,926,000	1,838,000	1,773,000	1,796,000	1,200,000	1,815,000	1,800,000	1,775,000	1,769,000	1,779,000	1,760,000	1,743,000	1,459,000	1,774,000	1,756,000	1,813,000	1,867,000	1,838,000	2,011,000	1,806,000
straight-lining of rent	-362,000	-706,000	-386,000	-778,000	-163,000	-886,000	-417,000	-1,086,000	-901,000	-1,075,000	-881,000	-830,000	-498,000	-465,000	-546,000	-511,000	-1,216,000	-352,000	-274,000	964,000	1,020,000	4,239,000	5,938,000	-674,000	901,000	83,000	59,000	-22,000	-354,000	-563,000	116,000	66,000	66,000	-168,000	0	376,000	144,000	324,000	128,000	-12,000	-213,000
share-based compensation expense	3,656,000	2,726,000	3,566,000	2,707,000	2,852,000	2,716,000	2,442,000	2,421,000	1,788,000	1,814,000	2,202,000	2,007,000	2,809,000	2,580,000	2,500,000	2,597,000	2,601,000	2,809,000	2,726,000	2,683,000	2,531,000	2,604,000	8,611,000	3,248,000	3,280,000	3,310,000	3,295,000	3,664,000	3,247,000	2,252,000	2,222,000	2,020,000	2,020,000	1,889,000	1,889,000	1,875,000	1,484,000	1,353,000	1,359,000	1,424,000	1,297,000	1,113,000	879,000	828,000	7,441,000
rental revenue deemed uncollectible	2,773,000																				6,426,000	8,385,000
change in operating assets and liabilities:
tenant and other receivables	-9,996,000	1,046,000	1,662,000	-6,262,000	-1,105,000	-3,387,000	186,000	-1,661,000	1,111,000	88,000	-111,000	1,723,000	-1,126,000	-2,032,000	2,953,000	-1,507,000	2,366,000	-2,354,000	725,000	-876,000	2,278,000	-4,352,000	-21,058,000	1,134,000	4,290,000	6,371,000	6,452,000	-10,379,000	-515,000	-5,729,000	-1,763,000	-5,320,000	-5,320,000	-4,144,000	-4,611,000	-2,246,000	-2,748,000	743,000	-2,246,000	684,000	741,000	-926,000	5,151,000	-2,845,000	-1,384,000
deferred leasing costs	-1,803,000	-1,761,000	-2,940,000	-2,115,000	-1,048,000	-1,743,000	-1,211,000	-2,415,000	-3,055,000	-701,000	-2,375,000	-1,928,000	-5,167,000	-1,221,000	-1,247,000	-1,025,000	-4,083,000	-325,000	-810,000	-600,000	-108,000	-351,000	-123,000	-636,000	-1,064,000	-1,365,000	-673,000	-1,201,000	-1,234,000	-1,618,000	-885,000	-938,000	-938,000	-554,000	-1,509,000	-1,378,000	-669,000
prepaid expenses and other assets	-2,033,000	1,469,000	2,602,000	-3,169,000		-2,019,000	8,150,000	-11,037,000		3,561,000	2,386,000	-3,489,000		-352,000	-1,746,000	2,893,000		5,189,000	2,202,000	-6,879,000		-1,673,000	-197,000	-9,786,000
lease liabilities	-1,619,000	-1,553,000	-1,605,000	-1,607,000	-1,849,000	-1,804,000	-1,720,000	-1,743,000	-1,144,000	-1,762,000	-1,738,000	-1,686,000	-1,644,000	-1,684,000	-1,665,000	-1,648,000	-1,326,000	-1,637,000	-1,619,000	-1,645,000	-1,663,000	-1,632,000	-1,807,000	-1,578,000
accounts payable, accrued expenses and other liabilities	-8,326,000	6,380,000	-4,325,000	-1,846,000	4,376,000	-760,000	-4,848,000	-2,173,000	8,907,000	10,018,000	2,329,000	-6,007,000	6,400,000	4,155,000	-859,000	-10,549,000	4,212,000	2,305,000	-3,514,000	-6,547,000	10,201,000	8,685,000	-2,981,000	-7,383,000	4,588,000	9,192,000	-12,942,000	254,000
net cash from operating activities	39,125,000	55,695,000	43,457,000	32,582,000	52,439,000	36,580,000	41,236,000	22,922,000	60,163,000	34,403,000	39,027,000	29,422,000	40,946,000	37,696,000	36,455,000	24,521,000	42,136,000	39,552,000	34,760,000	18,825,000	37,993,000	32,852,000	21,181,000	20,796,000	40,807,000	38,756,000	47,410,000	29,427,000	48,918,000	11,426,000	42,695,000	34,001,000	34,001,000	43,400,000	31,200,000	46,072,000	37,226,000	38,067,000	32,464,000	34,273,000	32,445,000	38,226,000	37,380,000	31,891,000	30,581,000
capital expenditures	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	39,125,000	55,695,000	43,457,000	32,582,000	52,439,000	36,580,000	41,236,000	22,922,000	60,163,000	34,403,000	39,027,000	29,422,000	40,946,000	37,696,000	36,455,000	24,521,000	42,136,000	39,552,000	34,760,000	18,825,000	37,993,000	32,852,000	21,181,000	20,796,000	40,807,000	38,756,000	47,410,000	29,427,000	48,918,000	11,426,000	42,695,000	34,001,000	34,001,000	43,400,000	31,200,000	46,072,000	37,226,000	38,067,000	32,464,000	34,273,000	32,445,000	38,226,000	37,380,000	31,891,000	30,581,000
cash flows from investing activities
real estate development and capital improvements	-40,542,000	-29,579,000	-23,813,000	-20,730,000	-44,649,000	-24,414,000	-21,370,000	-20,194,000	-30,964,000	-30,021,000	-31,586,000	-23,153,000	-41,054,000	-26,892,000	-29,020,000	-19,078,000	-48,930,000	-27,086,000	-11,551,000	-7,810,000	-10,256,000	-7,096,000	-4,632,000	-6,538,000	-20,296,000	-20,374,000	-23,935,000	-26,696,000	-28,062,000	-34,424,000	-27,007,000	-29,272,000	-29,272,000	-33,403,000
acquisitions of real estate	-54,296,000				-68,918,000	0	-83,211,000	-32,338,000	-312,815,000	0			0	0	-32,282,000	-3,940,000	-198,085,000				-32,208,000	0	0	-92,132,000
net cash from investing activities	-94,838,000	-30,958,000	40,540,000	-20,730,000	-88,353,000	-24,414,000	-77,628,000	-44,302,000	-31,227,000	-30,021,000	-33,657,000	-22,797,000	-41,054,000	-26,892,000	-60,949,000	-23,018,000	-244,648,000	-70,359,000	-11,551,000	15,398,000	-42,464,000	-7,096,000	-4,632,000	-44,268,000	-62,576,000	72,465,000	-3,916,000	-8,494,000	-28,062,000	-30,834,000	26,330,000	-32,237,000	-32,237,000	-33,403,000	-19,732,000	-194,894,000	-47,703,000	-32,890,000	-18,780,000	6,321,000	-13,881,000	-37,857,000			-6,670,000
cash flows from financing activities
debt repayments	-4,095,000	-93,960,000	-89,159,000	-3,407,000	-65,312,000	-153,539,000	-66,361,000	-102,141,000	-264,943,000	-81,082,000	-342,838,000	-5,028,000	-4,335,000	-4,313,000	-85,265,000	-4,421,000	-3,868,000	-8,586,000	-3,011,000	-2,727,000	-1,735,000	-1,589,000	-83,902,000	-2,076,000	-1,680,000	-1,848,000	-915,000	-1,144,000	-1,135,000	-1,174,000	-1,135,000	-844,000	-844,000	-41,081,000	-4,714,000	-4,417,000	-79,428,000	-4,450,000	-4,309,000	-25,568,000	-4,131,000	-1,983,000	-3,967,000	-3,950,000	-34,754,000
dividends to common shareholders	-26,433,000	-23,886,000	-23,881,000	-23,874,000		-21,210,000	-20,216,000	-20,180,000		-18,803,000	-18,794,000	-18,790,000		-18,776,000	-18,774,000	-18,773,000		-17,556,000	-17,537,000	-71,348,000		0	0	-26,647,000	-26,674,000	-26,646,000	-26,453,000	-26,390,000	-25,122,000	-25,085,000
distributions to redeemable noncontrolling interests	-2,180,000	-1,229,000	-1,231,000	-1,662,000		-1,053,000	-1,057,000	-1,279,000		-810,000	-817,000	-809,000		-782,000	-782,000	-773,000		-711,000	-730,000	-2,784,000		0	0	-1,314,000	-1,267,000	-1,298,000	-1,553,000	-1,576,000	-2,815,000	-2,735,000					-2,765,000	-2,170,000	-1,770,000	-1,360,000	-1,237,000	-1,237,000	-1,237,000	-1,236,000	-1,230,000	-1,240,000	-1,212,000
taxes withheld for vested restricted shares	-281,000	0	0	-273,000	0	0	0	-195,000	0	0	18,000	-137,000	0	-15,000	-24,000	-90,000	0	0	-2,000	-208,000	-4,000	0	-1,133,000	-328,000	0	0	-41,000	-592,000	0	0	-22,000	-363,000	-363,000	0	0	-27,000	-260,000	0	-5,000
contributions from noncontrolling interests	1,516,000	512,000			3,389,000	0			776,000	0	663,000	558,000	223,000	-1,000	719,000	745,000	4,312,000	1,418,000	0	511,000
borrowings from unsecured line of credit	30,000,000
proceeds from mortgage loan borrowings	62,500,000				50,000,000	61,000,000	50,000,000	50,000,000	43,704,000	82,000,000				0								7,250,000
debt issuance costs	-8,186,000	-2,756,000	-18,000	-2,000	-621,000	-1,437,000	-761,000	-1,251,000	-1,713,000	-1,189,000	-5,557,000	-7,000	-8,000	-5,847,000							-1,173,000	-256,000			-6,000									-1,841,000	-7,785,000	0	-3,567,000					-2,000,000	0	0	-3,198,000
costs related to the issuance of common shares	-127,000
net cash from financing activities	52,714,000	1,856,000	-63,888,000	-4,400,000	36,910,000	-23,728,000	42,547,000	-57,817,000	67,388,000	-19,884,000	-23,130,000	-24,213,000	-23,509,000	-29,734,000	-2,212,000	-23,312,000	99,556,000	-25,434,000	-21,096,000	-76,556,000	-247,272,000	5,405,000	-19,357,000	180,979,000	-29,441,000	-38,474,000	-28,683,000	-29,667,000	-28,910,000	-29,003,000	-28,629,000	-29,014,000	-29,014,000	102,086,000	114,461,000	288,865,000	-6,923,000	-23,731,000	-20,658,000	-46,276,000	-25,193,000	-28,724,000	-24,972,000	-25,009,000	172,500,000
net increase in cash and cash equivalents and restricted cash	-2,999,000	26,593,000	20,109,000	7,452,000													-102,956,000	-56,241,000	2,113,000	-42,333,000	-251,743,000	31,161,000	-2,808,000	157,507,000	-51,210,000	72,747,000			-8,054,000	-48,411,000				112,083,000	125,929,000
cash and cash equivalents and restricted cash at beginning of period	78,865,000	0	0	90,640,000		0	0	174,248,000		0	0	128,774,000		0	0	219,836,000		0	0	419,253,000		0	0	485,136,000		0	0	457,522,000		0	0	500,841,000	500,841,000		0	0	140,186,000
cash and cash equivalents and restricted cash at end of period	75,866,000	26,593,000	20,109,000	98,092,000		-11,562,000	6,155,000	95,051,000		-15,502,000	-17,760,000	111,186,000		-18,930,000	-26,706,000	198,027,000		-56,241,000	2,113,000	376,920,000		31,161,000	-2,808,000	642,643,000		72,747,000	14,811,000	448,788,000		-48,411,000	40,396,000	473,591,000	473,591,000		125,929,000	140,043,000	122,786,000
gain on sale of real estate		-233,000			-23,469,000	0	-13,447,000	-1,902,000	-217,352,000	0	0	-356,000	0	0			0	-6,926,000	0	-11,722,000	0	0	0	-39,775,000	-413,000	-39,716,000	-11,550,000	-16,953,000	0	-2,185,000				0				0	0
gain on extinguishment of debt		0			4,000				1,396,000												0	0
proceeds from sale of real estate		121,000			25,214,000	0	26,953,000	8,230,000																										0
borrowings under unsecured credit facility		0	50,000,000	25,000,000	65,000,000	0																0	0	250,000,000
proceeds related to the issuance of common shares		-425,000			6,775,000	92,511,000	20,041,000	17,229,000	177,000	0			159,000	0			181,000	1,000			193,000	0			186,000	-61,000	279,000	35,000	162,000	-9,000
proceeds (costs) related to the issuance of common shares				-182,000
real estate impairment loss									0	0	0	34,055,000																								303,000	3,164,000
prepaid and other assets																									-954,000	-2,282,000	-188,000	93,000	3,226,000	-4,266,000	1,612,000	1,295,000	1,295,000	1,641,000	-7,669,000	2,932,000	-1,336,000	4,719,000	-6,003,000	1,354,000	71,000	-238,000	-5,458,000	2,353,000	-268,000
dividends paid to common shareholders
distributions paid to redeemable noncontrolling interests
purchase of interest rate cap													0	0
cash and cash equivalents and restricted cash at beginning of year
cash and cash equivalents and restricted cash at end of year
amortization of below market leases						-2,783,000	-653,000	-1,490,000	-6,418,000	-1,703,000	-1,973,000	-1,508,000	-1,598,000	-1,555,000	-1,533,000	-1,974,000	-35,398,000	-15,021,000	-2,342,000	-2,412,000	-3,821,000	-2,349,000	-2,205,000	-2,249,000	-2,007,000	-2,131,000	-9,442,000	-2,360,000	-4,208,000	-19,312,000	-7,822,000	-2,633,000	-2,633,000		-2,735,000	-2,071,000	-2,036,000	-1,869,000	-2,158,000	-1,874,000	-1,875,000	-1,837,000	-2,019,000	-2,065,000	-1,986,000
net decrease in cash and cash equivalents and restricted cash						-11,562,000	6,155,000	-79,197,000		-15,502,000	-17,760,000	-17,588,000	-23,617,000	-18,930,000	-26,706,000	-21,809,000												-8,734,000				-27,250,000	-27,250,000				-17,400,000
proceeds from sale of operating properties									312,552,000	0	0	356,000	0	0			0	11,274,000	0	23,208,000	0	0	0	54,402,000	5,070,000	77,619,000	15,619,000	18,202,000	0	3,290,000								0	0
proceeds from sale of operating lease																									6,000
casualty and impairment loss																	96,000								3,668,000			3,958,000						0
proceeds from borrowings																																		710,200,000	0	125,500,000	100,000,000
cash paid to repurchase shares
gain on sale of lease																									0
insurance proceeds																									0	8,277,000			0	300,000
payment for redemption of units																									0
repurchase of common shares																						0	-15,485,000	-38,656,000
amortization of deferred financing costs																						703,000	704,000	706,000	686,000	731,000	719,000	720,000	720,000	719,000	718,000	722,000	722,000	701,000	724,000	587,000	864,000	724,000	724,000	723,000	659,000	659,000	659,000
credit losses related to operating lease receivables																								1,424,000
income from acquired leasehold interest																																		0	0	0	-39,215,000
acquisition of real estate																													0	0	-966,000	-3,965,000	-3,965,000	0	0	-174,841,000	-36,552,000	-7,267,000				-27,000,000	0
payment on extinguishment of debt
purchase of marketable securities in connection with debt defeasance
amortization of right-of-use assets																										1,881,000	2,434,000	2,014,000
provision for doubtful accounts																													1,550,000	79,000	1,273,000	1,236,000		1,771,000	575,000	906,000	193,000	220,000	149,000	494,000	351,000
accounts payable and accrued expenses																														-6,941,000	5,340,000	-4,777,000	-4,777,000	6,222,000	2,419,000	6,167,000	3,786,000	1,131,000	5,422,000	-3,938,000	-2,852,000	3,762,000	5,632,000	-1,909,000	3,815,000
other liabilities																														111,000	1,935,000	385,000	385,000	-1,422,000	-143,000	421,000	1,426,000	-225,000	-109,000	1,149,000	305,000	3,084,000	-1,829,000	2,490,000	2,647,000
insurance proceeds received																																1,000,000	1,000,000
dividends paid to shareholders																																-24,997,000	-24,997,000	-24,973,000	-24,973,000	-23,566,000	-21,869,000	-21,850,000	-19,801,000	-19,797,000	-19,792,000	-19,775,000	-19,775,000	-19,765,000	-19,852,000
distributions to noncontrolling interests in operating partnership																																-2,786,000	-2,786,000
payments related to the issuance of common shares																																-24,000	-24,000
(gain) loss on extinguishment of debt																																	-2,524,000
benefit from doubtful accounts																																	1,236,000									387,000
non-cash separation costs paid by vornado																																										0	0	0	17,403,000
contributions from vornado																																													231,462,000
proceeds from issuance of common shares																																		190,000	154,698,000	193,545,000	-29,000	3,929,000	4,694,000						54,000
real estate additions																																				-24,843,000	-11,151,000	-24,233,000	-18,123,000	-12,702,000	-14,843,000	-11,647,000	-9,386,000	-11,555,000	-3,702,000
decrease in cash held in escrow and restricted cash																																							1,343,000	-915,000	962,000	790,000
net increase in cash and cash equivalents																																							-6,974,000	-5,682,000	-6,629,000	-28,355,000	3,983,000	-5,656,000	196,411,000
cash and cash equivalents at beginning of period																																							0	0	168,983,000		0	0	2,600,000
cash and cash equivalents at end of period																																							-6,974,000	-5,682,000	162,354,000		3,983,000	-5,656,000	199,011,000
supplemental disclosure of cash flow information
cash payments for interest																																							12,730,000	12,903,000	12,870,000	12,902,000	12,525,000	13,469,000	13,918,000
cash payments for income taxes																																							9,000	1,232,000	17,000	0	54,000
non-cash investing and financing activities
accrued capital expenditures included in accounts payable and accrued expenses																																							2,247,000	4,366,000	5,727,000	3,846,000	1,911,000	-511,000	3,453,000
write off of fully depreciated assets																																							275,000	404,000	279,000	6,093,000	1,154,000	2,408,000	933,000
taxes withheld for vested restricted stock																																									-33,000
proceeds from issuance of common stock
real estate impairment losses
contributions from (distributions to) vornado																																										-3,730,000	0
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
straight-lining of rental income																																											-41,000	56,000	-83,000
other non-cash adjustments																																											331,000	472,000	274,000
bad debt expense																																												389,000	323,000
increase in cash held in escrow and restricted cash
net cash (used in) investing activities
deferred financing amortization																																													684,000
(increase) in cash held in escrow and restricted cash																																													-2,968,000
cash payments for taxes																																													16,000
adjustments to carry redeemable nci at redemption value																																													110,653,000
depreciation and amortization, including amortization of debt issuance costs
prepaid assets
other assets
acquisitions of land
restricted cash
change in vornado’s investment
supplemental disclosure of cash flow information and non-cash activities
write off of fully depreciated assets, including assets impaired

Urban Edge Properties(NYSE:UE)

Urban Edge Properties
(NYSE:UE)