Mirae Asset Global Investments Co. Ltd. Sells 768 Shares of Urban Edge Properties $UE

Mirae Asset Global Investments Co. Ltd. cut its position in Urban Edge Properties (NYSE:UE) by 22.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,605 shares of the real estate investment trust’s stock after selling 768 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Urban Edge Properties were worth $49,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in Urban Edge Properties by 4.6% in the 2nd quarter. State of Alaska Department of Revenue now owns 136,561 shares of the real estate investment trust’s stock valued at $2,547,000 after buying an additional 5,983 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in Urban Edge Properties by 2.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 318,584 shares of the real estate investment trust’s stock valued at $5,945,000 after buying an additional 7,376 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Urban Edge Properties by 85.8% during the second quarter. GAMMA Investing LLC now owns 5,744 shares of the real estate investment trust’s stock valued at $107,000 after acquiring an additional 2,653 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Urban Edge Properties during the second quarter valued at $153,000. Finally, Wealth Enhancement Advisory Services LLC raised its stake in shares of Urban Edge Properties by 44.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 50,921 shares of the real estate investment trust’s stock valued at $969,000 after acquiring an additional 15,621 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on UE shares. Wall Street Zen raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. LADENBURG THALM/SH SH initiated coverage on Urban Edge Properties in a research report on Tuesday, September 9th. They set a “neutral” rating and a $23.00 target price for the company. BTIG Research initiated coverage on Urban Edge Properties in a research report on Monday, August 11th. They set a “buy” rating and a $23.00 price objective for the company. Weiss Ratings restated a “buy (b-)” rating on shares of Urban Edge Properties in a research report on Wednesday, October 8th. Finally, Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday, September 15th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $22.25.

Urban Edge Properties Stock Performance

NYSE:UE opened at $19.17 on Monday. The company has a fifty day moving average of $20.24 and a 200-day moving average of $19.12. The firm has a market capitalization of $2.41 billion, a P/E ratio of 22.82 and a beta of 1.26. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09. Urban Edge Properties has a twelve month low of $15.66 and a twelve month high of $23.85.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. Urban Edge Properties had a net margin of 22.86% and a return on equity of 7.74%. The firm had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.99 million. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. As a group, sell-side analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Monday, September 15th. Urban Edge Properties’s payout ratio is 90.48%.

About Urban Edge Properties

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.