abrdn plc Buys 2,240 Shares of Urban Edge Properties (NYSE:UE)

abrdn plc lifted its holdings in Urban Edge Properties (NYSE:UE) by 9.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 25,583 shares of the real estate investment trust’s stock after purchasing an additional 2,240 shares during the period. abrdn plc’s holdings in Urban Edge Properties were worth $547,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in UE. Allspring Global Investments Holdings LLC increased its stake in shares of Urban Edge Properties by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,342 shares of the real estate investment trust’s stock worth $438,000 after purchasing an additional 2,135 shares during the period. BNP Paribas Financial Markets increased its stake in Urban Edge Properties by 36.9% during the first quarter. BNP Paribas Financial Markets now owns 61,209 shares of the real estate investment trust’s stock valued at $1,057,000 after acquiring an additional 16,493 shares during the period. Daiwa Securities Group Inc. increased its stake in Urban Edge Properties by 19.6% during the first quarter. Daiwa Securities Group Inc. now owns 42,704 shares of the real estate investment trust’s stock valued at $738,000 after acquiring an additional 7,012 shares during the period. Mutual of America Capital Management LLC increased its stake in Urban Edge Properties by 6.7% during the first quarter. Mutual of America Capital Management LLC now owns 288,315 shares of the real estate investment trust’s stock valued at $4,979,000 after acquiring an additional 18,062 shares during the period. Finally, Jennison Associates LLC increased its stake in Urban Edge Properties by 98.6% during the first quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after acquiring an additional 996,287 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI boosted their price target on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 16th.

Urban Edge Properties Stock Up 1.7 %

NYSE UE opened at $22.36 on Tuesday. The company has a current ratio of 1.30, a quick ratio of 2.11 and a debt-to-equity ratio of 1.13. The stock’s 50 day moving average is $21.36 and its two-hundred day moving average is $19.37. The company has a market capitalization of $2.79 billion, a price-to-earnings ratio of 10.03 and a beta of 1.54. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $22.89.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. The company had revenue of $112.26 million for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. Equities analysts forecast that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Friday, September 13th. Urban Edge Properties’s payout ratio is currently 30.49%.

Urban Edge Properties Company 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.