Urban Edge Properties $UE Position Lessened by Rhumbline Advisers

Key Points

• Rhumbline Advisers reduced its stake in Urban Edge Properties by 3.4%, owning 381,922 shares worth approximately $7.26 million after selling 13,305 shares in the first quarter.
• Analysts have mixed views on Urban Edge Properties, with BTIG Research initiating coverage with a "buy" rating and a price target of $23.00, while others maintain a "hold" rating and a consensus target price of $22.67.
• The real estate investment trust reported an EPS of $0.36 for the last quarter, surpassing analysts' expectations, but its revenue of $113.91 million fell short of estimates by about $2 million.

Rhumbline Advisers decreased its holdings in Urban Edge Properties (NYSE:UE - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 381,922 shares of the real estate investment trust's stock after selling 13,305 shares during the quarter. Rhumbline Advisers owned approximately 0.30% of Urban Edge Properties worth $7,257,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Arizona State Retirement System lifted its stake in shares of Urban Edge Properties by 1.7% in the first quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust's stock worth $681,000 after acquiring an additional 605 shares in the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Urban Edge Properties by 6.6% in the first quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 758 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Urban Edge Properties by 1.0% in the fourth quarter. California State Teachers Retirement System now owns 113,836 shares of the real estate investment trust's stock worth $2,447,000 after acquiring an additional 1,158 shares in the last quarter. Illinois Municipal Retirement Fund lifted its stake in shares of Urban Edge Properties by 3.2% in the first quarter. Illinois Municipal Retirement Fund now owns 68,455 shares of the real estate investment trust's stock worth $1,301,000 after acquiring an additional 2,141 shares in the last quarter. Finally, GF Fund Management CO. LTD. acquired a new position in shares of Urban Edge Properties in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 94.94% of the company's stock.

Wall Street Analysts Forecast Growth

UE has been the topic of several recent analyst reports. Wall Street Zen upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. LADENBURG THALM/SH SH initiated coverage on Urban Edge Properties in a research note on Tuesday, September 9th. They set a "neutral" rating and a $23.00 price objective on the stock. Evercore ISI upped their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the company an "in-line" rating in a research note on Monday. Finally, BTIG Research started coverage on Urban Edge Properties in a research note on Monday, August 11th. They set a "buy" rating and a $23.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $22.67.

Urban Edge Properties Price Performance

NYSE UE traded up $0.23 on Wednesday, reaching $20.65. 176,076 shares of the stock traded hands, compared to its average volume of 998,584. The firm's fifty day simple moving average is $19.99 and its 200 day simple moving average is $19.01. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09. The company has a market cap of $2.60 billion, a price-to-earnings ratio of 24.58 and a beta of 1.28. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. The business had revenue of $113.91 million for the quarter, compared to analysts' expectations of $115.99 million. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. As a group, research analysts predict that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties's dividend payout ratio (DPR) is 90.48%.

Urban Edge Properties Company 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.