Algert Global LLC Acquires 416,502 Shares of Urban Edge Properties $UE

Key Points

• Algert Global LLC significantly increased its stake in Urban Edge Properties by 872.7%, acquiring a total of 464,227 shares valued at approximately $8.82 million.
• Urban Edge Properties declared a quarterly dividend of $0.19 per share, reflecting a 3.9% yield for shareholders of record.
• Analysts from BTIG Research initiated coverage with a "buy" rating and a target price of $23.00 for Urban Edge Properties' stock.

Algert Global LLC grew its holdings in Urban Edge Properties (NYSE:UE - Free Report) by 872.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 464,227 shares of the real estate investment trust's stock after purchasing an additional 416,502 shares during the period. Algert Global LLC owned approximately 0.37% of Urban Edge Properties worth $8,820,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of Urban Edge Properties by 1.7% during the first quarter. Vanguard Group Inc. now owns 20,299,913 shares of the real estate investment trust's stock worth $385,698,000 after buying an additional 337,717 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Urban Edge Properties by 35.4% in the first quarter. Westwood Holdings Group Inc. now owns 3,945,310 shares of the real estate investment trust's stock valued at $74,961,000 after purchasing an additional 1,031,587 shares during the period. Jennison Associates LLC increased its holdings in Urban Edge Properties by 0.7% in the first quarter. Jennison Associates LLC now owns 3,193,048 shares of the real estate investment trust's stock valued at $60,668,000 after purchasing an additional 23,450 shares during the period. Resolution Capital Ltd increased its holdings in Urban Edge Properties by 2.5% in the fourth quarter. Resolution Capital Ltd now owns 2,897,436 shares of the real estate investment trust's stock valued at $62,295,000 after purchasing an additional 71,290 shares during the period. Finally, Northern Trust Corp increased its holdings in Urban Edge Properties by 27.2% in the fourth quarter. Northern Trust Corp now owns 1,971,784 shares of the real estate investment trust's stock valued at $42,393,000 after purchasing an additional 421,513 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. BTIG Research assumed coverage on Urban Edge Properties in a report on Monday, August 11th. They issued a "buy" rating and a $23.00 price objective 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.50.

Urban Edge Properties Trading Up 4.4%

Urban Edge Properties stock traded up $0.8730 during trading hours on Friday, reaching $20.7830. 1,260,316 shares of the company's stock were exchanged, compared to its average volume of 1,388,892. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09. The firm's 50 day simple moving average is $19.27 and its 200 day simple moving average is $18.99. Urban Edge Properties has a twelve month low of $15.66 and a twelve month high of $23.85. The firm has a market capitalization of $2.61 billion, a PE ratio of 24.74 and a beta of 1.24.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%.The firm had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.99 million. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. Research analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties's dividend payout ratio is 90.48%.

About Urban Edge Properties

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.