Connor Clark & Lunn Investment Management Ltd. Invests $2.03 Million in Urban Edge Properties $UE

Connor Clark & Lunn Investment Management Ltd. purchased a new position in Urban Edge Properties (NYSE:UE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 108,879 shares of the real estate investment trust’s stock, valued at approximately $2,032,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Urban Edge Properties as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the stock. Arizona State Retirement System grew its position in shares of Urban Edge Properties by 1.7% during the 1st quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust’s stock valued at $681,000 after acquiring an additional 605 shares during the period. Edgestream Partners L.P. lifted its stake in Urban Edge Properties by 37.2% in the first quarter. Edgestream Partners L.P. now owns 39,000 shares of the real estate investment trust’s stock valued at $741,000 after purchasing an additional 10,570 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Urban Edge Properties in the first quarter worth $2,373,000. GW&K Investment Management LLC purchased a new stake in Urban Edge Properties in the first quarter worth $5,511,000. Finally, Y Intercept Hong Kong Ltd raised its stake in shares of Urban Edge Properties by 112.4% in the first quarter. Y Intercept Hong Kong Ltd now owns 43,665 shares of the real estate investment trust’s stock valued at $830,000 after buying an additional 23,103 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on UE shares. Wall Street Zen upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. UBS Group initiated coverage on shares of Urban Edge Properties in a research note on Friday, October 24th. They issued a “neutral” rating and a $21.00 target price for the company. BTIG Research assumed coverage on shares of Urban Edge Properties in a research report on Monday, August 11th. They issued a “buy” rating and a $23.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Urban Edge Properties in a report on Thursday. Finally, LADENBURG THALM/SH SH began coverage on shares of Urban Edge Properties in a research note on Tuesday, September 9th. They issued a “neutral” rating and a $23.00 price objective for the company. One research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $22.00.

Urban Edge Properties Price Performance

Shares of NYSE:UE opened at $18.98 on Monday. The company has a 50 day moving average of $19.95 and a 200 day moving average of $19.42. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 1.18. The stock has a market cap of $2.39 billion, a P/E ratio of 21.32 and a beta of 1.25. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.60.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The firm had revenue of $120.13 million during the quarter, compared to the consensus estimate of $117.85 million. Urban Edge Properties had a net margin of 23.73% and a return on equity of 8.10%. Urban Edge Properties has set its FY 2025 guidance at 1.420-1.440 EPS. As a group, sell-side analysts forecast 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. Investors of record on Monday, December 15th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 4.0%. The ex-dividend date is Monday, December 15th. Urban Edge Properties’s payout ratio is presently 85.39%.

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.