Northern Trust Corp Cuts Holdings in Urban Edge Properties $UE

Key Points

• Northern Trust Corp reduced its stake in Urban Edge Properties by 1.0%, holding approximately 1.95 million shares valued at $37.09 million as of its latest SEC filing.
• Several other institutional investors, including D. E. Shaw & Co. Inc. and GAMMA Investing LLC, significantly increased their positions in Urban Edge Properties during recent quarters.
• Urban Edge Properties announced a quarterly dividend of $0.19 per share, representing an annualized yield of 3.7%, with the payment date set for September 30th.

Northern Trust Corp decreased its stake in shares of Urban Edge Properties (NYSE:UE - Free Report) by 1.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,952,079 shares of the real estate investment trust's stock after selling 19,705 shares during the period. Northern Trust Corp owned approximately 1.55% of Urban Edge Properties worth $37,090,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Urban Edge Properties by 9.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,300 shares of the real estate investment trust's stock valued at $671,000 after purchasing an additional 3,031 shares during the period. D. E. Shaw & Co. Inc. lifted its stake in Urban Edge Properties by 307.6% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 100,095 shares of the real estate investment trust's stock valued at $2,152,000 after acquiring an additional 75,538 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Urban Edge Properties by 1,773.9% in the first quarter. GAMMA Investing LLC now owns 58,729 shares of the real estate investment trust's stock valued at $1,116,000 after purchasing an additional 55,595 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Urban Edge Properties in the first quarter worth $316,000. Finally, SG Americas Securities LLC acquired a new stake in Urban Edge Properties in the 1st quarter valued at $447,000. 94.94% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on UE. BTIG Research assumed 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. Wall Street Zen raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Urban Edge Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

Urban Edge Properties Stock Up 1.0%

UE stock traded up $0.21 during mid-day trading on Thursday, reaching $21.09. 1,278,461 shares of the company traded hands, compared to its average volume of 1,074,280. The firm's 50 day moving average price is $19.64 and its 200 day moving average price is $18.98. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 25.10 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 fifty-two week low of $15.66 and a fifty-two week high of $23.85.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 firm 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. As a group, equities research analysts predict that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 annualized dividend and a yield of 3.6%. Urban Edge Properties's dividend payout ratio (DPR) is currently 90.48%.

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.