Hsbc Holdings PLC Buys 24,233 Shares of Urban Edge Properties $UE

Key Points

• Hsbc Holdings PLC increased its ownership in Urban Edge Properties by 22.9%, acquiring an additional 24,233 shares, bringing its total holdings to 129,928 shares worth approximately $2.46 million.
• Urban Edge Properties reported earnings per share of $0.36 for the last quarter, exceeding analysts' expectations, while the firm has set its FY 2025 guidance at 1.400-1.440 EPS.
• The company declared a quarterly dividend of $0.19 per share, resulting in an annualized dividend yield of 3.7%, with the payout ratio currently at 90.48%.

Hsbc Holdings PLC lifted its stake in shares of Urban Edge Properties (NYSE:UE - Free Report) by 22.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,928 shares of the real estate investment trust's stock after buying an additional 24,233 shares during the period. Hsbc Holdings PLC owned about 0.10% of Urban Edge Properties worth $2,464,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. GF Fund Management CO. LTD. bought a new position in Urban Edge Properties in the fourth quarter valued at about $47,000. Quarry LP acquired a new position in shares of Urban Edge Properties in the fourth quarter valued at approximately $49,000. Wolverine Asset Management LLC acquired a new position in shares of Urban Edge Properties in the first quarter valued at approximately $118,000. Cary Street Partners Financial LLC bought a new position in Urban Edge Properties in the 4th quarter valued at approximately $206,000. Finally, HighTower Advisors LLC acquired a new stake in Urban Edge Properties during the 1st quarter worth approximately $221,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Urban Edge Properties Trading Up 2.6%

NYSE:UE opened at $20.78 on Thursday. The firm's fifty day moving average is $19.39 and its 200-day moving average is $18.99. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.39 and a current ratio of 2.39. Urban Edge Properties has a 52 week low of $15.66 and a 52 week high of $23.85. The firm has a market cap of $2.61 billion, a P/E ratio of 24.73 and a beta of 1.24.

Urban Edge Properties (NYSE:UE - Get Free Report) last announced its 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. 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 net margin of 22.86% and a return on equity of 7.74%. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. Equities analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties's payout ratio is currently 90.48%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UE shares. BTIG Research started coverage on shares of Urban Edge Properties in a research report on Monday, August 11th. They issued a "buy" rating and a $23.00 price target 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 equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.50.

Urban Edge Properties Profile

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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