Bank of New York Mellon Corp Has $25.02 Million Position in Urban Edge Properties $UE

Bank of New York Mellon Corp grew its stake in Urban Edge Properties (NYSE:UE) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,252,067 shares of the real estate investment trust’s stock after acquiring an additional 69,244 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Urban Edge Properties worth $25,016,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC increased its stake in 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 valued at $25,000 after purchasing an additional 1,071 shares in the last quarter. Global Retirement Partners LLC grew its holdings in shares of Urban Edge Properties by 2,108.1% in the 4th 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 period. CIBC Private Wealth Group LLC acquired a new position in shares of Urban Edge Properties in the 3rd quarter valued at $52,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of 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 valued at $71,000 after buying an additional 922 shares in the last quarter. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Urban Edge Properties in the 4th quarter valued at $75,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on UE shares. UBS Group boosted their target price on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. 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, Weiss Ratings upgraded Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Urban Edge Properties presently has an average rating of “Hold” and a consensus price target of $23.20.

Insider Activity at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 161,553 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.73, for a total value of $3,510,546.69. Following the completion of the transaction, the chief executive officer owned 22,699 shares in the company, valued at $493,249.27. This trade represents a 87.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by corporate insiders.

Urban Edge Properties Trading Down 0.0%

NYSE UE opened at $23.34 on Tuesday. Urban Edge Properties has a 52 week low of $18.46 and a 52 week high of $24.11. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.08 and a current ratio of 2.08. The stock’s 50 day moving average price is $22.85 and its two-hundred day moving average price is $21.38. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 27.14 and a beta of 0.97.

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

Urban Edge Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date was Monday, June 15th. Urban Edge Properties’s dividend payout ratio is currently 97.67%.

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.