Northern Trust Corp Sells 19,705 Shares of 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 first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,952,079 shares of the real estate investment trust's stock after selling 19,705 shares during the quarter. Northern Trust Corp owned about 1.55% of Urban Edge Properties worth $37,090,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of UE. GF Fund Management CO. LTD. purchased a new position in shares of Urban Edge Properties in the fourth quarter worth $47,000. Quarry LP purchased a new position in shares of Urban Edge Properties in the fourth quarter worth $49,000. Wolverine Asset Management LLC purchased a new position in shares of Urban Edge Properties in the first quarter worth $118,000. Cary Street Partners Financial LLC purchased a new position in shares of Urban Edge Properties in the fourth quarter worth $206,000. Finally, HighTower Advisors LLC purchased a new position in shares of Urban Edge Properties in the first quarter worth $221,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Urban Edge Properties Stock Performance

Shares of UE traded down $0.18 during trading hours on Tuesday, hitting $20.51. The stock had a trading volume of 568,262 shares, compared to its average volume of 1,001,019. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.39 and a quick ratio of 2.39. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The firm has a market capitalization of $2.58 billion, a PE ratio of 24.42 and a beta of 1.28. The stock has a fifty day moving average price of $19.51 and a 200 day moving average price of $18.96.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued 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 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. Analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties's payout ratio is currently 90.48%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd. BTIG Research assumed coverage on Urban Edge Properties in a research note on Monday, August 11th. They issued a "buy" rating and a $23.00 price target for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Urban Edge Properties currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.50.

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.