Jennison Associates LLC Raises Holdings in Urban Edge Properties $UE

Jennison Associates LLC grew its holdings in Urban Edge Properties (NYSE:UE) by 72.2% in the first quarter, Holdings Channel reports. The firm owned 4,585,256 shares of the real estate investment trust’s stock after buying an additional 1,923,202 shares during the quarter. Jennison Associates LLC’s holdings in Urban Edge Properties were worth $91,613,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. EverSource Wealth Advisors LLC raised its stake in shares of Urban Edge Properties by 426.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,071 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of Urban Edge Properties by 2,108.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust’s stock valued at $26,000 after buying an additional 1,307 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in Urban Edge Properties in the 3rd quarter worth about $52,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in Urban Edge Properties by 33.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 922 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in Urban Edge Properties in the 4th quarter worth about $75,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

NYSE UE opened at $23.71 on Monday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 27.58 and a beta of 0.97. Urban Edge Properties has a 1-year low of $18.46 and a 1-year high of $24.11. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.08 and a quick ratio of 2.08. The business’s fifty day moving average price is $22.64 and its 200-day moving average price is $21.20.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.18 EPS for the quarter, topping the consensus estimate of $0.12 by $0.06. The company had revenue of $132.62 million during the quarter, compared to analyst estimates of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%.Urban Edge Properties has set its FY 2026 guidance at 1.480-1.52 EPS. On average, equities analysts predict that Urban Edge Properties will post 1.49 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Monday, June 15th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 97.67%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. BTIG Research restated a “buy” rating and set a $25.00 target price on shares of Urban Edge Properties in a research note on Friday, June 12th. Weiss Ratings raised shares of Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, UBS Group lifted their price target on shares of Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.20.

Insider Activity

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 19,034 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $21.62, for a total transaction of $411,515.08. Following the completion of the sale, the chief executive officer directly owned 3,665 shares in the company, valued at $79,237.30. The trade was a 83.85% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Urban Edge Properties Company 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.