Adage Capital Partners GP L.L.C. acquired a new stake in shares of Urban Edge Properties (NYSE:UE - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the real estate investment trust's stock, valued at approximately $1,900,000. Adage Capital Partners GP L.L.C. owned 0.08% of Urban Edge Properties as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in UE. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Urban Edge Properties during the fourth quarter valued at approximately $261,000. BNP Paribas Financial Markets raised its holdings in shares of Urban Edge Properties by 124.1% during the fourth quarter. BNP Paribas Financial Markets now owns 73,470 shares of the real estate investment trust's stock valued at $1,580,000 after acquiring an additional 40,689 shares in the last quarter. Cary Street Partners Financial LLC bought a new position in shares of Urban Edge Properties during the fourth quarter valued at approximately $206,000. Cubist Systematic Strategies LLC bought a new position in shares of Urban Edge Properties during the fourth quarter valued at approximately $242,000. Finally, Deutsche Bank AG raised its holdings in shares of Urban Edge Properties by 28.5% during the fourth quarter. Deutsche Bank AG now owns 158,713 shares of the real estate investment trust's stock valued at $3,412,000 after acquiring an additional 35,234 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.
Urban Edge Properties Stock Down 0.3%
UE traded down $0.05 during trading on Wednesday, reaching $21.04. The stock had a trading volume of 917,759 shares, compared to its average volume of 1,118,051. The stock's 50 day moving average is $19.82 and its two-hundred day moving average is $19.01. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 25.04 and a beta of 1.28. Urban Edge Properties has a one year low of $15.66 and a one year high of $23.85.
Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.99 million. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. As a group, analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current year.
Urban Edge Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.19 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a yield of 3.6%. Urban Edge Properties's dividend payout ratio is 90.48%.
Analysts Set New Price Targets
A number of equities analysts recently commented on UE shares. LADENBURG THALM/SH SH started coverage on Urban Edge Properties in a report on Tuesday. They set a "neutral" rating and a $23.00 target price for the company. Wall Street Zen upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. Finally, BTIG Research started coverage on Urban Edge Properties in a report on Monday, August 11th. They set a "buy" rating and a $23.00 target price for the company. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Urban Edge Properties has a consensus rating of "Hold" and an average price target of $22.67.
Check Out Our Latest Stock Report on Urban Edge Properties
Urban Edge Properties Company Profile
(
Free Report)
Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.
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