Virtus Advisers LLC Makes New Investment in Urban Edge Properties $UE

Virtus Advisers LLC acquired a new position in shares of Urban Edge Properties (NYSE:UE) in the 2nd quarter, Holdings Channel reports. The fund acquired 33,829 shares of the real estate investment trust’s stock, valued at approximately $774,000.

Other large investors have also modified their holdings of the company. BlackRock Inc. purchased a new position in shares of Urban Edge Properties in the 2nd quarter valued at $523,715,000. Wellington Management Group LLP purchased a new stake in Urban Edge Properties in the third quarter valued at $92,600,000. Jennison Associates LLC lifted its position in Urban Edge Properties by 72.2% in the first quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust’s stock valued at $91,613,000 after acquiring an additional 1,923,202 shares during the last quarter. Resolution Capital Ltd lifted its position in Urban Edge Properties by 74.1% in the first quarter. Resolution Capital Ltd now owns 3,940,938 shares of the real estate investment trust’s stock valued at $78,740,000 after acquiring an additional 1,677,531 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in Urban Edge Properties in the second quarter valued at $25,152,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on UE. UBS Group raised their price objective on Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings downgraded Urban Edge Properties from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Finally, BTIG Research reissued a “buy” rating and issued a $25.00 target price on shares of Urban Edge Properties in a research report on Friday, June 12th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Urban Edge Properties has an average rating of “Hold” and an average price target of $23.20.

Urban Edge Properties Stock Down 0.7%

UE stock opened at $21.55 on Friday. The company has a fifty day moving average price of $22.66 and a 200 day moving average price of $21.76. Urban Edge Properties has a 12 month low of $18.46 and a 12 month high of $24.11. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 39.91 and a beta of 0.98. The company has a debt-to-equity ratio of 1.19, a current ratio of 1.57 and a quick ratio of 1.57.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.03. Urban Edge Properties had a net margin of 13.72% and a return on equity of 4.92%. The firm had revenue of $122.78 million during the quarter, compared to analysts’ expectations of $117.86 million. Urban Edge Properties has set its FY 2026 guidance at 1.500-1.540 EPS. Sell-side analysts expect that Urban Edge Properties will post 1.52 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.21 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.9%. Urban Edge Properties’s dividend payout ratio is 155.56%.

About Urban Edge Properties

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.