Urban Edge Properties is a real estate investment trust principally focused on the management and development of retail real estate properties in urban communities in the U.S. Having originally been created to hold the majority of Vornado Realty Trust's shopping center businesses, Urban Edge's asset portfolio is mostly composed of shopping centers and malls in terms of total square footage. The company's holdings include necessity and convenience-oriented retailers, such as department stores, grocers, health clubs, and restaurants. Urban Edge's properties are mainly located in the New York City metropolitan region and within the DC to Boston corridor. The company generates nearly all of its revenue through the collection of rent from a large number of tenants.
P/FFO (Price to Funds From Operations) is calculated by adding amortization and depreciation to the net income and then deducting the gains on the sale of properties. P/FFO can be quoted as the entire entity's figure in full or on a per-share basis.
In REITs, as the accounting net income is distorted, it ends up being inefficient to use the Earnings per share (EPS), so the FFO is used in the formula instead of the Net Income.
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