Jennison Associates LLC Purchases 1,923,202 Shares of Urban Edge Properties $UE

Key Points

• Jennison Associates LLC increased its stake in Urban Edge Properties by 72.2% in Q1, buying 1.92 million additional shares and ending with 4.59 million shares worth about $91.6 million.
• Urban Edge Properties reported better-than-expected quarterly results, with EPS of $0.18 versus $0.12 expected and revenue of $132.62 million versus $119.45 million expected. The REIT also reaffirmed FY 2026 guidance of 1.48-1.52 EPS.
• The company paid a quarterly dividend of $0.21 per share, or $0.84 annualized, implying a 3.5% yield, while analysts currently rate the stock a consensus Hold with an average target price of $23.20.

Jennison Associates LLC lifted its position in Urban Edge Properties (NYSE:UE - Free Report) by 72.2% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,585,256 shares of the real estate investment trust's stock after acquiring an additional 1,923,202 shares during the period. Jennison Associates LLC owned 3.64% of Urban Edge Properties worth $91,613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP purchased a new stake in Urban Edge Properties in the third quarter worth $92,600,000. Balyasny Asset Management L.P. purchased a new position in Urban Edge Properties during the fourth quarter valued at $16,858,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Urban Edge Properties during the fourth quarter valued at $12,777,000. Bayhunt Capital LLC bought a new stake in shares of Urban Edge Properties during the 4th quarter valued at $10,430,000. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Urban Edge Properties by 28.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,220,870 shares of the real estate investment trust's stock valued at $42,618,000 after buying an additional 490,910 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on UE. UBS Group increased their price target on shares of Urban Edge Properties from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Urban Edge Properties from a "buy (b-)" rating to a "buy (b)" rating in a report on Wednesday, April 29th. Finally, BTIG Research reaffirmed a "buy" rating and set a $25.00 target price on shares of Urban Edge Properties in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $23.20.

Urban Edge Properties Trading Up 0.1%

Urban Edge Properties stock opened at $23.71 on Monday. Urban Edge Properties has a 12 month low of $18.46 and a 12 month high of $24.11. The company has a market capitalization of $2.99 billion, a price-to-earnings ratio of 27.58 and a beta of 0.97. The business's fifty day simple moving average is $22.64 and its two-hundred day simple moving average is $21.20. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.21.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $132.62 million during the quarter, compared to the consensus estimate of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%.Urban Edge Properties has set its FY 2026 guidance at 1.480-1.52 EPS. As a group, equities analysts predict that Urban Edge Properties will post 1.49 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.5%. The ex-dividend date was Monday, June 15th. Urban Edge Properties's dividend payout ratio (DPR) is currently 97.67%.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 161,553 shares of Urban Edge Properties stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.73, for a total value of $3,510,546.69. Following the completion of the transaction, the chief executive officer directly owned 22,699 shares of the company's stock, valued at approximately $493,249.27. The trade was a 87.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company's stock.

Urban Edge Properties Company 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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