Bank of New York Mellon Corp Invests $25.15 Million in Urban Edge Properties $UE

Key Points

• Bank of New York Mellon initiated a $25.15 million stake in Urban Edge Properties, acquiring 1.10 million shares and representing 0.87% ownership. Institutional investors collectively hold 94.94% of the REIT’s stock.
• Urban Edge exceeded quarterly expectations, reporting $0.14 in adjusted earnings per share versus the $0.11 consensus and revenue of $122.78 million versus estimates of $117.86 million.
• The company declared a quarterly dividend of $0.21 per share, equal to an annualized $0.84 and a 3.9% yield. Analysts maintain a consensus “Hold” rating with a $23.20 price target, compared with the stock’s $21.37 opening price.

Bank of New York Mellon Corp bought a new stake in shares of Urban Edge Properties (NYSE:UE - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 1,099,285 shares of the real estate investment trust's stock, valued at approximately $25,152,000. Bank of New York Mellon Corp owned 0.87% of Urban Edge Properties as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of UE. EverSource Wealth Advisors LLC increased its holdings in shares of Urban Edge Properties by 426.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust's stock valued at $25,000 after acquiring an additional 1,071 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Urban Edge Properties by 2,108.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust's stock valued at $26,000 after buying an additional 1,307 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Urban Edge Properties during the third quarter valued at about $52,000. State of Wyoming bought a new stake in shares of Urban Edge Properties during the first quarter worth about $66,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Urban Edge Properties in the 4th quarter worth about $75,000. 94.94% of the stock is owned by institutional investors.

Urban Edge Properties Trading Down 0.1%

Shares of Urban Edge Properties stock opened at $21.37 on Monday. The firm has a market cap of $2.70 billion, a PE ratio of 39.57 and a beta of 0.98. Urban Edge Properties has a 1 year low of $18.46 and a 1 year high of $24.11. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a fifty day moving average price of $22.51 and a 200-day moving average price of $21.80.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.03. The company had revenue of $122.78 million during the quarter, compared to analyst estimates of $117.86 million. Urban Edge Properties had a net margin of 13.72% and a return on equity of 4.92%. Urban Edge Properties has set its FY 2026 guidance at 1.500-1.540 EPS. Equities research analysts anticipate that Urban Edge Properties will post 1.52 EPS for the current year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Urban Edge Properties's dividend payout ratio is 155.56%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on UE. Weiss Ratings lowered Urban Edge Properties from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. UBS Group upped their price target on Urban Edge Properties from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Finally, BTIG Research restated a "buy" rating and set a $25.00 price objective on shares of Urban Edge Properties in a research note on Friday, June 12th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $23.20.

Urban Edge Properties Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.

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