Legal & General Group Plc Purchases Shares of 777,116 Urban Edge Properties $UE

Legal & General Group Plc purchased a new stake in shares of Urban Edge Properties (NYSE:UE) in the 2nd quarter, Holdings Channel.com reports. The fund purchased 777,116 shares of the real estate investment trust’s stock, valued at approximately $17,780,000.

A number of other hedge funds also recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new stake in shares of Urban Edge Properties in the 2nd quarter valued at about $1,402,000. Partners Capital Investment Group LLP bought a new position in shares of Urban Edge Properties during the second quarter worth about $301,000. Quantbot Technologies LP acquired a new position in shares of Urban Edge Properties in the second quarter worth approximately $970,000. Ieq Capital LLC bought a new stake in Urban Edge Properties in the second quarter valued at approximately $533,000. Finally, Allworth Financial LP bought a new stake in Urban Edge Properties in the second quarter valued at approximately $29,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Urban Edge Properties Stock Down 0.1%

Shares of NYSE:UE opened at $21.37 on Monday. The business’s 50 day moving average is $22.51 and its 200 day moving average is $21.80. Urban Edge Properties has a 12-month low of $18.46 and a 12-month high of $24.11. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 39.57 and a beta of 0.98. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.19.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating 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 company had revenue of $122.78 million for the quarter, compared to analyst estimates of $117.86 million. Urban Edge Properties has set its FY 2026 guidance at 1.500-1.540 EPS. On average, sell-side analysts forecast that Urban Edge Properties will post 1.52 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on UE shares. Weiss Ratings cut shares of Urban Edge Properties from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Urban Edge Properties in a research report on Friday, June 12th. Finally, UBS Group increased their price target on Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $23.20.

Urban Edge Properties Profile

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.