Resolution Capital Ltd Lowers Stake in Urban Edge Properties $UE

Key Points

• Resolution Capital Ltd sold 684,448 shares of Urban Edge Properties, reducing its stake by 23.6% to approximately 2.21 million shares.
• Urban Edge Properties reported a quarterly EPS of $0.36, exceeding estimates, while setting a FY 2025 guidance of 1.400-1.440 EPS.
• The company announced a quarterly dividend of $0.19 to be paid on September 30th, reflecting an annualized yield of 3.6%.

Resolution Capital Ltd cut its stake in Urban Edge Properties (NYSE:UE - Free Report) by 23.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,212,988 shares of the real estate investment trust's stock after selling 684,448 shares during the quarter. Urban Edge Properties comprises approximately 0.8% of Resolution Capital Ltd's holdings, making the stock its 19th largest holding. Resolution Capital Ltd owned approximately 1.76% of Urban Edge Properties worth $42,047,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Urban Edge Properties by 4.6% in the first 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 acquiring an additional 3,276 shares during the period. Adage Capital Partners GP L.L.C. bought a new position in Urban Edge Properties during the 1st quarter valued at about $1,900,000. Cubist Systematic Strategies LLC raised its position in Urban Edge Properties by 1,194.7% in the 1st quarter. Cubist Systematic Strategies LLC now owns 145,625 shares of the real estate investment trust's stock worth $2,767,000 after purchasing an additional 134,377 shares during the period. Vident Advisory LLC lifted its stake in Urban Edge Properties by 109.6% in the first quarter. Vident Advisory LLC now owns 32,386 shares of the real estate investment trust's stock worth $615,000 after purchasing an additional 16,934 shares during the last quarter. Finally, Virtus Advisers LLC bought a new stake in Urban Edge Properties in the first quarter worth about $277,000. Institutional investors own 94.94% of the company's stock.

Urban Edge Properties Trading Up 1.0%

Shares of NYSE UE traded up $0.21 during trading hours on Thursday, reaching $21.23. The stock had a trading volume of 798,688 shares, compared to its average volume of 1,001,342. Urban Edge Properties has a 52-week low of $15.66 and a 52-week high of $23.85. The firm has a market cap of $2.67 billion, a price-to-earnings ratio of 25.27 and a beta of 1.28. The business's fifty day moving average price is $19.82 and its two-hundred day moving average price is $19.01. The company has a current ratio of 2.39, a quick 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 EPS for the quarter, topping 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 company had revenue of $113.91 million for 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. Analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Monday, September 15th. Urban Edge Properties's payout ratio is presently 90.48%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on UE. Wall Street Zen upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. LADENBURG THALM/SH SH initiated coverage on Urban Edge Properties in a research report on Tuesday. They issued a "neutral" rating and a $23.00 price objective on the stock. Finally, BTIG Research initiated coverage on Urban Edge Properties in a research note on Monday, August 11th. They issued a "buy" rating and a $23.00 target price on the stock. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Urban Edge Properties has a consensus rating of "Hold" and a consensus price target of $22.67.

About Urban Edge Properties

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.