Rhumbline Advisers Lowers Stake in Urban Edge Properties $UE

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 reduced its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 381,922 shares of the real estate investment trust's stock after selling 13,305 shares during the period. Rhumbline Advisers owned 0.30% of Urban Edge Properties worth $7,257,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Strs Ohio purchased a new position in Urban Edge Properties during the 1st quarter valued at about $450,000. Intech Investment Management LLC increased its stake in Urban Edge Properties by 41.3% during the 1st quarter. Intech Investment Management LLC now owns 101,897 shares of the real estate investment trust's stock valued at $1,936,000 after purchasing an additional 29,808 shares in the last quarter. Jane Street Group LLC bought a new stake in Urban Edge Properties during the 1st quarter valued at about $5,076,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Urban Edge Properties by 7.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 871,958 shares of the real estate investment trust's stock valued at $16,567,000 after purchasing an additional 58,350 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Urban Edge Properties by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,956 shares of the real estate investment trust's stock valued at $1,424,000 after purchasing an additional 3,276 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on UE shares. BTIG Research started coverage on shares of Urban Edge Properties in a research note on Monday, August 11th. They set a "buy" rating and a $23.00 price objective for the company. Wall Street Zen upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH started coverage on shares of Urban Edge Properties in a research note on Tuesday. They set a "neutral" rating and a $23.00 price objective for the company. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $22.67.

Urban Edge Properties Stock Performance

Shares of UE stock opened at $21.23 on Friday. The company has a 50 day moving average price of $19.86 and a 200-day moving average price of $19.02. Urban Edge Properties has a 52 week low of $15.66 and a 52 week high of $23.85. The firm has a market capitalization of $2.67 billion, a PE ratio of 25.27 and a beta of 1.28. 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 announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. Urban Edge Properties had a net margin of 22.86% and a return on equity of 7.74%. The firm had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.99 million. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. As a group, equities research analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently declared 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 3.6%. Urban Edge Properties's payout ratio is currently 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.

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