Urban Edge Properties $UE Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. reduced its stake in Urban Edge Properties by 43.1%, selling 771,512 shares to hold a total of 1,017,656 shares valued at approximately $19.3 million.
• Urban Edge Properties has announced a quarterly dividend of $0.19 per share, representing an annualized yield of 3.7% and a dividend payout ratio of 90.48%.
• Analysts have upgraded Urban Edge Properties to a "hold" rating with a consensus target price of $22.50 following reports indicating a strong performance in recent quarterly earnings.

American Century Companies Inc. trimmed its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 43.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,017,656 shares of the real estate investment trust's stock after selling 771,512 shares during the quarter. American Century Companies Inc. owned 0.81% of Urban Edge Properties worth $19,335,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of UE. GF Fund Management CO. LTD. purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth about $47,000. Quarry LP purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth about $49,000. Wolverine Asset Management LLC purchased a new stake in shares of Urban Edge Properties during the first quarter worth about $118,000. Cary Street Partners Financial LLC purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth about $206,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Urban Edge Properties during the first quarter worth about $221,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Urban Edge Properties Stock Up 2.6%

Urban Edge Properties stock traded up $0.53 during midday trading on Wednesday, hitting $20.78. The stock had a trading volume of 1,216,606 shares, compared to its average volume of 1,005,192. 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 stock has a market cap of $2.61 billion, a P/E ratio of 24.73 and a beta of 1.24. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The business has a fifty day moving average price of $19.35 and a 200 day moving average price of $18.98.

Urban Edge Properties (NYSE:UE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The firm had revenue of $113.91 million during the quarter, compared to analyst estimates 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. Research analysts predict that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. BTIG Research initiated 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. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Urban Edge Properties has an average rating of "Moderate Buy" and a consensus price target of $22.50.

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.