BlackRock Inc. bought a new stake in Urban Edge Properties (NYSE:UE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 22,889,642 shares of the real estate investment trust's stock, valued at approximately $523,715,000. BlackRock Inc. owned 18.16% 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 added to or reduced their stakes in the company. Wellington Management Group LLP bought a new position in Urban Edge Properties during the third quarter valued at about $92,600,000. Jennison Associates LLC grew its holdings in shares of Urban Edge Properties by 72.2% during the 1st quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust's stock worth $91,613,000 after purchasing an additional 1,923,202 shares in the last quarter. Resolution Capital Ltd grew its holdings in shares of Urban Edge Properties by 74.1% during the 1st quarter. Resolution Capital Ltd now owns 3,940,938 shares of the real estate investment trust's stock worth $78,740,000 after purchasing an additional 1,677,531 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Urban Edge Properties during the second quarter valued at approximately $25,152,000. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Urban Edge Properties in the fourth quarter valued at $16,858,000. 94.94% of the stock is owned by institutional investors and hedge funds.
Urban Edge Properties Stock Performance
NYSE:UE opened at $21.59 on Tuesday. Urban Edge Properties has a 1 year low of $18.46 and a 1 year high of $24.11. The firm has a 50 day moving average of $22.59 and a 200-day moving average of $21.79. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $2.73 billion, a P/E ratio of 39.98 and a beta of 0.98.
Urban Edge Properties (NYSE:UE - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.11 by $0.03. Urban Edge Properties had a return on equity of 4.92% and a net margin of 13.72%.The business had revenue of $122.78 million for the quarter, compared to analyst estimates of $117.86 million. Urban Edge Properties has set its FY 2026 guidance at 1.500-1.540 EPS. As a group, sell-side analysts anticipate that Urban Edge Properties will post 1.52 EPS for the current fiscal year.
Urban Edge Properties Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a $0.21 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.9%. Urban Edge Properties's dividend payout ratio (DPR) is 155.56%.
Analysts Set New Price Targets
A number of research firms have weighed in on UE. BTIG Research reiterated a "buy" rating and set a $25.00 price target on shares of Urban Edge Properties in a research note on Friday, June 12th. UBS Group increased their price objective on shares of Urban Edge Properties from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings downgraded shares of Urban Edge Properties from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $23.20.
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About Urban Edge Properties
(
Free Report)
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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