Cubist Systematic Strategies LLC Has $2.77 Million Stake in Urban Edge Properties $UE

Key Points

• Cubist Systematic Strategies LLC has significantly increased its holdings in Urban Edge Properties by 1,194.7%, acquiring 145,625 shares during the first quarter.
• Urban Edge Properties announced a quarterly dividend of $0.19 per share, with a payout ratio of 90.48%, indicating a stable income for shareholders.
• Currently, the stock is rated as a "Moderate Buy" by analysts, with a target price of $22.50, reflecting a positive outlook for Urban Edge's performance.

Cubist Systematic Strategies LLC raised its stake in Urban Edge Properties (NYSE:UE - Free Report) by 1,194.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,625 shares of the real estate investment trust's stock after purchasing an additional 134,377 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.12% of Urban Edge Properties worth $2,767,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of UE. Nuveen LLC purchased a new stake in shares of Urban Edge Properties during the first quarter worth about $30,837,000. Westwood Holdings Group Inc. increased its holdings in Urban Edge Properties by 35.4% in the first quarter. Westwood Holdings Group Inc. now owns 3,945,310 shares of the real estate investment trust's stock valued at $74,961,000 after buying an additional 1,031,587 shares during the last quarter. Hudson Bay Capital Management LP increased its holdings in Urban Edge Properties by 56.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,800,970 shares of the real estate investment trust's stock valued at $38,721,000 after buying an additional 646,960 shares during the last quarter. Northern Trust Corp increased its holdings in Urban Edge Properties by 27.2% in the fourth quarter. Northern Trust Corp now owns 1,971,784 shares of the real estate investment trust's stock valued at $42,393,000 after buying an additional 421,513 shares during the last quarter. Finally, Algert Global LLC boosted its stake in Urban Edge Properties by 872.7% in the first quarter. Algert Global LLC now owns 464,227 shares of the real estate investment trust's stock valued at $8,820,000 after acquiring an additional 416,502 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Urban Edge Properties Price Performance

UE remained flat at $21.09 during trading on Wednesday. The company's stock had a trading volume of 433,326 shares, compared to its average volume of 999,568. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 25.14 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 has a 12-month low of $15.66 and a 12-month high of $23.85. The stock has a fifty day simple moving average of $19.78 and a 200 day simple moving average of $18.99.

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 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%.The business had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.99 million. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. On average, research analysts forecast 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. Investors of record on Monday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties's dividend payout ratio (DPR) 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.