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Side-by-side financial comparison of Industrial Logistics Properties Trust (ILPT) and Urban Edge Properties (UE). Click either name above to swap in a different company.
Urban Edge Properties is the larger business by last-quarter revenue ($132.6M vs $113.9M, roughly 1.2× Industrial Logistics Properties Trust). Urban Edge Properties runs the higher net margin — 17.1% vs -1.6%, a 18.6% gap on every dollar of revenue. On growth, Urban Edge Properties posted the faster year-over-year revenue change (12.2% vs 3.1%). Over the past eight quarters, Urban Edge Properties's revenue compounded faster (11.6% CAGR vs 0.7%).
Industrial Logistics Properties Trust is a real estate investment trust that owns and operates a portfolio of industrial and logistics real estate assets primarily across the United States. Its holdings include distribution centers, warehouses, and last-mile delivery properties, serving e-commerce, retail, manufacturing and supply chain operators to meet their storage and logistics operation needs.
Urban Edge Properties is a publicly traded real estate investment trust (REIT) that owns, operates, and develops high-quality retail and mixed-use properties, primarily located in densely populated urban and suburban markets across the United States. Its portfolio covers grocery-anchored shopping centers, lifestyle outlets, and community-focused commercial assets.
ILPT vs UE — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $113.9M | $132.6M |
| Net Profit | $-1.8M | $22.6M |
| Gross Margin | — | — |
| Operating Margin | -22.1% | — |
| Net Margin | -1.6% | 17.1% |
| Revenue YoY | 3.1% | 12.2% |
| Net Profit YoY | 92.6% | -6.7% |
| EPS (diluted) | $-0.02 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $132.6M | ||
| Q4 25 | $113.9M | $119.6M | ||
| Q3 25 | $110.9M | $120.1M | ||
| Q2 25 | $112.1M | $114.1M | ||
| Q1 25 | $111.9M | $118.2M | ||
| Q4 24 | $110.5M | $116.4M | ||
| Q3 24 | $108.9M | $112.4M | ||
| Q2 24 | $110.6M | $106.5M |
| Q1 26 | — | $22.6M | ||
| Q4 25 | $-1.8M | $12.4M | ||
| Q3 25 | $-21.6M | $14.9M | ||
| Q2 25 | $-21.3M | $58.0M | ||
| Q1 25 | $-21.5M | $8.2M | ||
| Q4 24 | $-24.1M | $30.1M | ||
| Q3 24 | $-25.0M | $9.1M | ||
| Q2 24 | $-23.2M | $30.8M |
| Q1 26 | — | — | ||
| Q4 25 | -22.1% | 11.3% | ||
| Q3 25 | -29.4% | 13.4% | ||
| Q2 25 | -30.8% | 53.9% | ||
| Q1 25 | -26.9% | 7.6% | ||
| Q4 24 | -31.1% | 27.6% | ||
| Q3 24 | -33.5% | 8.9% | ||
| Q2 24 | -32.4% | 30.6% |
| Q1 26 | — | 17.1% | ||
| Q4 25 | -1.6% | 10.4% | ||
| Q3 25 | -19.4% | 12.4% | ||
| Q2 25 | -19.0% | 50.8% | ||
| Q1 25 | -19.2% | 6.9% | ||
| Q4 24 | -21.8% | 25.9% | ||
| Q3 24 | -22.9% | 8.1% | ||
| Q2 24 | -20.9% | 28.9% |
| Q1 26 | — | $0.18 | ||
| Q4 25 | $-0.02 | $0.09 | ||
| Q3 25 | $-0.33 | $0.12 | ||
| Q2 25 | $-0.32 | $0.46 | ||
| Q1 25 | $-0.33 | $0.07 | ||
| Q4 24 | $-0.37 | $0.25 | ||
| Q3 24 | $-0.38 | $0.07 | ||
| Q2 24 | $-0.35 | $0.26 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $94.8M | $50.0M |
| Total DebtLower is stronger | $4.2B | — |
| Stockholders' EquityBook value | $489.7M | $1.4B |
| Total Assets | $5.2B | $3.4B |
| Debt / EquityLower = less leverage | 8.56× | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $50.0M | ||
| Q4 25 | $94.8M | $48.9M | ||
| Q3 25 | $83.2M | $77.8M | ||
| Q2 25 | $58.6M | $53.0M | ||
| Q1 25 | $108.0M | $48.0M | ||
| Q4 24 | $131.7M | $41.4M | ||
| Q3 24 | $153.9M | $67.9M | ||
| Q2 24 | $146.2M | $78.6M |
| Q1 26 | — | — | ||
| Q4 25 | $4.2B | — | ||
| Q3 25 | $4.2B | — | ||
| Q2 25 | $4.2B | — | ||
| Q1 25 | $4.3B | — | ||
| Q4 24 | $4.3B | — | ||
| Q3 24 | $4.3B | — | ||
| Q2 24 | $4.3B | — |
| Q1 26 | — | $1.4B | ||
| Q4 25 | $489.7M | $1.4B | ||
| Q3 25 | $494.1M | $1.4B | ||
| Q2 25 | $519.1M | $1.4B | ||
| Q1 25 | $539.5M | $1.4B | ||
| Q4 24 | $562.0M | $1.4B | ||
| Q3 24 | $585.9M | $1.3B | ||
| Q2 24 | $618.3M | $1.3B |
| Q1 26 | — | $3.4B | ||
| Q4 25 | $5.2B | $3.3B | ||
| Q3 25 | $5.2B | $3.3B | ||
| Q2 25 | $5.2B | $3.3B | ||
| Q1 25 | $5.4B | $3.3B | ||
| Q4 24 | $5.4B | $3.3B | ||
| Q3 24 | $5.5B | $3.2B | ||
| Q2 24 | $5.5B | $3.2B |
| Q1 26 | — | — | ||
| Q4 25 | 8.56× | — | ||
| Q3 25 | 8.49× | — | ||
| Q2 25 | 8.09× | — | ||
| Q1 25 | 7.96× | — | ||
| Q4 24 | 7.65× | — | ||
| Q3 24 | 7.35× | — | ||
| Q2 24 | 6.96× | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $60.7M | $39.1M |
| Free Cash FlowOCF − Capex | $42.0M | — |
| FCF MarginFCF / Revenue | 36.9% | — |
| Capex IntensityCapex / Revenue | 16.4% | 1.5% |
| Cash ConversionOCF / Net Profit | — | 1.73× |
| TTM Free Cash FlowTrailing 4 quarters | $79.8M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $39.1M | ||
| Q4 25 | $60.7M | $182.7M | ||
| Q3 25 | $22.7M | $55.7M | ||
| Q2 25 | $18.4M | $43.5M | ||
| Q1 25 | $11.4M | $32.6M | ||
| Q4 24 | $2.0M | $153.2M | ||
| Q3 24 | $-3.4M | $36.6M | ||
| Q2 24 | $10.8M | $41.2M |
| Q1 26 | — | — | ||
| Q4 25 | $42.0M | $81.8M | ||
| Q3 25 | $17.6M | $26.1M | ||
| Q2 25 | $15.2M | $19.6M | ||
| Q1 25 | $5.0M | $11.9M | ||
| Q4 24 | $-3.7M | $42.5M | ||
| Q3 24 | $-5.9M | $12.2M | ||
| Q2 24 | $9.4M | $19.9M |
| Q1 26 | — | — | ||
| Q4 25 | 36.9% | 68.4% | ||
| Q3 25 | 15.9% | 21.7% | ||
| Q2 25 | 13.5% | 17.2% | ||
| Q1 25 | 4.5% | 10.0% | ||
| Q4 24 | -3.4% | 36.6% | ||
| Q3 24 | -5.5% | 10.8% | ||
| Q2 24 | 8.5% | 18.6% |
| Q1 26 | — | 1.5% | ||
| Q4 25 | 16.4% | 84.4% | ||
| Q3 25 | 4.6% | 24.6% | ||
| Q2 25 | 2.9% | 20.9% | ||
| Q1 25 | 5.7% | 17.5% | ||
| Q4 24 | 5.2% | 95.1% | ||
| Q3 24 | 2.3% | 21.7% | ||
| Q2 24 | 1.3% | 20.1% |
| Q1 26 | — | 1.73× | ||
| Q4 25 | — | 14.71× | ||
| Q3 25 | — | 3.73× | ||
| Q2 25 | — | 0.75× | ||
| Q1 25 | — | 3.97× | ||
| Q4 24 | — | 5.09× | ||
| Q3 24 | — | 4.03× | ||
| Q2 24 | — | 1.34× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ILPT
Segment breakdown not available.
UE
| Rental revenue | $124.2M | 94% |
| Other | $8.4M | 6% |
