Legal & General Group Plc Sells 4,647 Shares of Urban Edge Properties $UE

Legal & General Group Plc trimmed its position in Urban Edge Properties (NYSE:UE) by 0.6% during the 2nd quarter, Holdings Channel.com reports. The firm owned 834,018 shares of the real estate investment trust’s stock after selling 4,647 shares during the period. Legal & General Group Plc’s holdings in Urban Edge Properties were worth $15,563,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. MAI Capital Management purchased a new position in Urban Edge Properties during the second quarter valued at $66,000. Nomura Asset Management Co. Ltd. increased its stake in shares of Urban Edge Properties by 4.8% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 178,430 shares of the real estate investment trust’s stock worth $3,330,000 after acquiring an additional 8,100 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in Urban Edge Properties by 1.9% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 73,372 shares of the real estate investment trust’s stock valued at $1,369,000 after acquiring an additional 1,365 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Urban Edge Properties by 3.2% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 72,946 shares of the real estate investment trust’s stock worth $1,361,000 after acquiring an additional 2,262 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey grew its holdings in Urban Edge Properties by 5.1% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 28,757 shares of the real estate investment trust’s stock worth $537,000 after purchasing an additional 1,405 shares during the period. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $19.22 on Friday. The firm has a market cap of $2.42 billion, a P/E ratio of 21.60 and a beta of 1.25. Urban Edge Properties has a twelve month low of $15.66 and a twelve month high of $23.55. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 1.18. The company has a 50 day moving average of $19.57 and a 200 day moving average of $19.44.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Urban Edge Properties had a return on equity of 8.10% and a net margin of 23.73%.The business had revenue of $120.13 million during the quarter, compared to analyst estimates of $117.85 million. Urban Edge Properties has set its FY 2025 guidance at 1.420-1.440 EPS. As a group, research analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a $0.19 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 4.0%. Urban Edge Properties’s payout ratio is 85.39%.

Analyst Ratings Changes

Several research firms have recently issued reports on UE. UBS Group began coverage on shares of Urban Edge Properties in a report on Friday, October 24th. They set a “neutral” rating and a $21.00 target price for the company. Morgan Stanley raised their price objective on Urban Edge Properties from $20.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 24th. Evercore ISI boosted their target price on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. 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 target price on the stock. Finally, Wall Street Zen upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Urban Edge Properties has a consensus rating of “Hold” and a consensus price target of $22.00.

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.