Invesco Ltd. Grows Holdings in Urban Edge Properties $UE

Key Points

• Invesco Ltd. has increased its stake in Urban Edge Properties by 1.7%, owning approximately 0.67% of the company amounting to $16.06 million after acquiring an additional 13,780 shares in Q1.
• Urban Edge Properties reported a quarterly EPS of $0.36, exceeding analysts' expectations of $0.34, while generating revenue of $113.91 million against estimates of $115.99 million.
• The company declared a quarterly dividend of $0.19 per share, reflecting a 3.7% annualized dividend yield, with a payout ratio of 90.48% and upcoming payment scheduled for September 30th.

Invesco Ltd. boosted its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 845,247 shares of the real estate investment trust's stock after acquiring an additional 13,780 shares during the period. Invesco Ltd. owned 0.67% of Urban Edge Properties worth $16,060,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Arizona State Retirement System lifted its position in Urban Edge Properties by 1.7% during the first quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust's stock valued at $681,000 after acquiring an additional 605 shares during the last quarter. Contravisory Investment Management Inc. lifted its position in Urban Edge Properties by 6.6% during the first quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 758 shares during the last quarter. California State Teachers Retirement System lifted its position in Urban Edge Properties by 1.0% during the fourth quarter. California State Teachers Retirement System now owns 113,836 shares of the real estate investment trust's stock valued at $2,447,000 after acquiring an additional 1,158 shares during the last quarter. Mariner LLC lifted its position in Urban Edge Properties by 8.3% during the fourth quarter. Mariner LLC now owns 16,948 shares of the real estate investment trust's stock valued at $364,000 after acquiring an additional 1,296 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its position in Urban Edge Properties by 3.2% during the first quarter. Illinois Municipal Retirement Fund now owns 68,455 shares of the real estate investment trust's stock valued at $1,301,000 after acquiring an additional 2,141 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on UE shares. BTIG Research started coverage on shares of Urban Edge Properties in a research report on Monday, August 11th. They set a "buy" rating and a $23.00 target price for the company. Wall Street Zen raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.50.

Urban Edge Properties Stock Performance

Shares of NYSE:UE traded down $0.00 during midday trading on Thursday, reaching $20.71. The company's stock had a trading volume of 1,033,695 shares, compared to its average volume of 1,335,148. The firm has a market capitalization of $2.61 billion, a PE ratio of 24.65 and a beta of 1.24. Urban Edge Properties has a twelve month low of $15.66 and a twelve month high of $23.85. The stock has a fifty day moving average of $19.44 and a 200 day moving average of $18.99. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09.

Urban Edge Properties (NYSE:UE - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $113.91 million for the quarter, compared to analyst estimates 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. On average, equities analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal 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. The ex-dividend date is Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.7%. Urban Edge Properties's dividend payout ratio is presently 90.48%.

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.