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Good Sign:
Piotroski F-Score is 7, indicates a very healthy situation.
The zones of discrimination were as such:
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Urban Edge Properties has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
The historical rank and industry rank for Urban Edge Properties's Piotroski F-Score or its related term are showing as below:
During the past 13 years, the highest Piotroski F-Score of Urban Edge Properties was 8. The lowest was 4. And the median was 6.
The historical data trend for Urban Edge Properties's Piotroski F-Score can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Urban Edge Properties Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
Piotroski F-Score | Get a 7-Day Free Trial | 5.00 | 5.00 | 6.00 | 4.00 | 7.00 |
Urban Edge Properties Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Piotroski F-Score | Get a 7-Day Free Trial | 4.00 | 4.00 | 4.00 | 4.00 | 7.00 |
For the REIT - Retail subindustry, Urban Edge Properties's Piotroski F-Score, along with its competitors' market caps and Piotroski F-Score data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
For the REITs industry and Real Estate sector, Urban Edge Properties's Piotroski F-Score distribution charts can be found below:
* The bar in red indicates where Urban Edge Properties's Piotroski F-Score falls into.
How is the Piotroski F-Score calculated?
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
This Year (Dec23) TTM: | Last Year (Dec22) TTM: |
Net Income was -19.118 + 10.262 + 36.118 + 221.235 = $248.5 Mil. Cash Flow from Operations was 29.422 + 39.027 + 34.403 + 60.163 = $163.0 Mil. Revenue was 99.441 + 99.065 + 101.834 + 116.582 = $416.9 Mil. Gross Profit was 66.338 + 67.236 + 69.034 + 80.862 = $283.5 Mil. Average Total Assets from the begining of this year (Dec22) to the end of this year (Dec23) was (2977.432 + 2923.644 + 2903.129 + 2881.844 + 3279.809) / 5 = $2993.1716 Mil. Total Assets at the begining of this year (Dec22) was $2,977.4 Mil. Long-Term Debt & Capital Lease Obligation was $1,635.0 Mil. Total Current Assets was $262.8 Mil. Total Current Liabilities was $231.4 Mil. |
Net Income was 9.486 + 11.626 + 11.383 + 13.675 = $46.2 Mil. Revenue was 100.201 + 97.854 + 98.29 + 101.593 = $397.9 Mil. Gross Profit was 63.021 + 64.802 + 64.387 + 69.53 = $261.7 Mil. Average Total Assets from the begining of last year (Dec21) to the end of last year (Dec22) was (2985.116 + 2961.237 + 2970.299 + 2961.492 + 2977.432) / 5 = $2971.1152 Mil. Total Assets at the begining of last year (Dec21) was $2,985.1 Mil. Long-Term Debt & Capital Lease Obligation was $1,754.5 Mil. Total Current Assets was $225.7 Mil. Total Current Liabilities was $84.5 Mil. |
*Note: If the latest quarterly/semi-annual/annual total assets data is 0, then we will use previous quarterly/semi-annual/annual data for all the items in the balance sheet.
Profitability
Question 1. Return on Assets (ROA)
Net income before extraordinary items for the year divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Urban Edge Properties's current Net Income (TTM) was 248.5.
==> Positive ==> Score 1.
Question 2. Cash Flow Return on Assets (CFROA)
Net cash flow from operating activities (operating cash flow) divided by Total Assets at the beginning of the year.
Score 1 if positive, 0 if negative.
Urban Edge Properties's current Cash Flow from Operations (TTM) was 163.0.
==> Positive ==> Score 1.
Question 3. Change in Return on Assets
Compare this year's return on assets (1) to last year's return on assets.
Score 1 if it's higher, 0 if it's lower.
ROA (This Year) | = | Net Income | / | Total Assets (Dec22) |
= | 248.497 | / | 2977.432 | |
= | 0.08346018 |
ROA (Last Year) | = | Net Income | / | Total Assets (Dec21) |
= | 46.17 | / | 2985.116 | |
= | 0.01546674 |
Urban Edge Properties's return on assets of this year was 0.08346018. Urban Edge Properties's return on assets of last year was 0.01546674.
==> This year is higher. ==> Score 1.
Question 4. Quality of Earnings (Accrual)
Compare Cash flow return on assets (2) to return on assets (1)
Score 1 if CFROA > ROA, 0 if CFROA <= ROA.
Urban Edge Properties's current Net Income (TTM) was 248.5. Urban Edge Properties's current Cash Flow from Operations (TTM) was 163.0.
==> 163.0 <= 248.5 ==> CFROA <= ROA ==> Score 0.
Funding
Question 5. Change in Gearing or Leverage
Compare this year's gearing (long-term debt divided by average total assets) to last year's gearing.
Score 0 if this year's gearing is higher, 1 otherwise.
Gearing (This Year: Dec23) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec22 to Dec23 |
= | 1635.001 | / | 2993.1716 | |
= | 0.54624366 |
Gearing (Last Year: Dec22) | = | Long-Term Debt & Capital Lease Obligation | / | Average Total Assets from Dec21 to Dec22 |
= | 1754.495 | / | 2971.1152 | |
= | 0.59051732 |
Urban Edge Properties's gearing of this year was 0.54624366. Urban Edge Properties's gearing of last year was 0.59051732.
==> This year is lower or equal to last year. ==> Score 1.
Question 6. Change in Working Capital (Liquidity)
Compare this year's current ratio (current assets divided by current liabilities) to last year's current ratio.
Score 1 if this year's current ratio is higher, 0 if it's lower
Current Ratio (This Year: Dec23) | = | Total Current Assets | / | Total Current Liabilities |
= | 262.84 | / | 231.445 | |
= | 1.13564778 |
Current Ratio (Last Year: Dec22) | = | Total Current Assets | / | Total Current Liabilities |
= | 225.742 | / | 84.516 | |
= | 2.67099721 |
Urban Edge Properties's current ratio of this year was 1.13564778. Urban Edge Properties's current ratio of last year was 2.67099721.
==> Last year's current ratio is higher ==> Score 0.
Question 7. Change in Shares in Issue
Compare the number of shares in issue this year, to the number in issue last year.
Score 0 if there is larger number of shares in issue this year, 1 otherwise.
Urban Edge Properties's number of shares in issue this year was 117.548. Urban Edge Properties's number of shares in issue last year was 122.144.
==> There is smaller number of shares in issue this year, or the same. ==> Score 1.
Efficiency
Question 8. Change in Gross Margin
Compare this year's gross margin (Gross Profit divided by sales) to last year's.
Score 1 if this year's gross margin is higher, 0 if it's lower.
Gross Margin (This Year: TTM) | = | Gross Profit | / | Revenue |
= | 283.47 | / | 416.922 | |
= | 0.67991135 |
Gross Margin (Last Year: TTM) | = | Gross Profit | / | Revenue |
= | 261.74 | / | 397.938 | |
= | 0.65774065 |
Urban Edge Properties's gross margin of this year was 0.67991135. Urban Edge Properties's gross margin of last year was 0.65774065.
==> This year's gross margin is higher. ==> Score 1.
Question 9. Change in asset turnover
Compare this year's asset turnover (total sales for the year divided by total assets at the beginning of the year) to last year's asset turnover ratio.
Score 1 if this year's asset turnover ratio is higher, 0 if it's lower
Asset Turnover (This Year) | = | Revenue | / | Total Assets at the Beginning of This Year (Dec22) |
= | 416.922 | / | 2977.432 | |
= | 0.14002738 |
Asset Turnover (Last Year) | = | Revenue | / | Total Assets at the Beginning of Last Year (Dec21) |
= | 397.938 | / | 2985.116 | |
= | 0.13330738 |
Urban Edge Properties's asset turnover of this year was 0.14002738. Urban Edge Properties's asset turnover of last year was 0.13330738.
==> This year's asset turnover is higher. ==> Score 1.
Evaluation
Piotroski F-Score | = | Que. 1 | + | Que. 2 | + | Que. 3 | + | Que. 4 | + | Que. 5 | + | Que. 6 | + | Que. 7 | + | Que. 8 | + | Que. 9 |
= | 1 | + | 1 | + | 1 | + | 0 | + | 1 | + | 0 | + | 1 | + | 1 | + | 1 | |
= | 7 |
Good or high score = 7, 8, 9
Bad or low score = 0, 1, 2, 3
Urban Edge Properties has an F-score of 7. It is a good or high score, which usually indicates a very healthy situation.
Urban Edge Properties (NYSE:UE) Piotroski F-Score Explanation
The developer of the system is Joseph D. Piotroski is relatively unknown accounting professor who shuns publicity and rarely gives interviews.
He graduated from the University of Illinois with a B.S. in accounting in 1989, received an M.B.A. from Indiana University in 1994. Five years later, in 1999, after earning a Ph.D. in accounting from the University of Michigan, he became an associate professor of accounting at the University of Chicago.
In 2000, he wrote a research paper called "Value Investing: The Use of Historical Financial Statement Information to Separate Winners from Losers" (pdf).
He wanted to see if he can develop a system (using a simple nine-point scoring system) that can increase the returns of a strategy of investing in low price to book (referred to in the paper as high book to market) value companies.
What he found was something that exceeded his most optimistic expectations.
Buying only those companies that scored highest (8 or 9) on his nine-point scale, or F-Score as he called it, over the 20 year period from 1976 to 1996 led to an average out-performance over the market of 13.4%.
Even more impressive were the results of a strategy of investing in the highest F-Score companies (8 or 9) and shorting companies with the lowest F-Score (0 or 1).
Over the same period from 1976 to 1996 (20 years) this strategy led to an average yearly return of 23%, substantially outperforming the average S&P 500 index return of 15.83% over the same period.
Thank you for viewing the detailed overview of Urban Edge Properties's Piotroski F-Score provided by GuruFocus.com. Please click on the following links to see related term pages.
Catherine Rice | director | 8377 EAST HARTFORD DRIVE, SUITE 100, SCOTTSDALE AZ 85255 |
Milton Robert C. Iii | officer: General Counsel and Secretary | C/O CIFC CORP., 250 PARK AVENUE, 4TH FLOOR, NEW YORK NY 10177 |
Jeffrey Mooallem | officer: Chief Operating Officer | 3 SERRAMONTE CENTER, DALY CITY CA 94015 |
Andrea Rosenthal Drazin | officer: Chief Accounting Officer | 849 BRADFORD AVENUE, WESTFIELD NJ 07090 |
Katherine M Sandstrom | director | 4600 SOUTH SYRACUSE STREET, SUITE 500, DENVER CO 80237 |
Mary Baglivo | director | C/O SAATCHI & SAATCHI, 17 HUDSON STREET, NEW YORK NY 10014 |
Norman K. Jenkins | director | 9211 GLADYS FARM WAY, GAITHERSBURG MD 20882 |
Susan Givens | director | 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10105 |
Herbert Eilberg | officer: Chief Investment Officer | C/O URBAN EDGE PROPERTIES, 888 7TH AVENUE, 6TH FLOOR, NEW YORK NY 10019 |
Vita Danielle De | officer: EVP of Development | 45 WOOTTON ROAD, ESSEX FELLS NJ 07021 |
Douglas William Sesler | director | 54 NORTHWAY, BRONXVILLE NY 10708 |
Steven Roth | director | |
Christopher Weilminster | officer: Chief Operating Officer | C/O URBAN EDGE PROPERTIES, 888 7TH AVENUE, 6TH FLOOR, NEW YORK NY 10019 |
Briggs Donald Ten Eyck | officer: President of Development | 78 BLANCHARD RD., BURLINGTON MA 01803 |
Bernard Schachter | officer: EVP - Asset Management | C/O URBAN EDGE PROPERTIES, 210 ROUTE 4 EAST, PARAMUS NJ 07652 |
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