The Manufacturers Life Insurance Company Makes New $1.40 Million Investment in Urban Edge Properties $UE

The Manufacturers Life Insurance Company purchased a new stake in Urban Edge Properties (NYSE:UE) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 61,284 shares of the real estate investment trust’s stock, valued at approximately $1,402,000.

Several other large investors have also recently modified their holdings of UE. BlackRock Inc. bought a new stake in shares of Urban Edge Properties in the second quarter worth $523,715,000. State Street Corp raised its position in Urban Edge Properties by 1.3% during the 2nd quarter. State Street Corp now owns 7,394,625 shares of the real estate investment trust’s stock worth $137,984,000 after purchasing an additional 92,101 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Urban Edge Properties by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 4,606,296 shares of the real estate investment trust’s stock worth $88,395,000 after buying an additional 82,594 shares during the period. Jennison Associates LLC lifted its holdings in Urban Edge Properties by 72.2% during the 1st quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust’s stock worth $91,613,000 after buying an additional 1,923,202 shares during the period. Finally, Resolution Capital Ltd grew its position in shares of Urban Edge Properties by 74.1% in the 1st quarter. Resolution Capital Ltd now owns 3,940,938 shares of the real estate investment trust’s stock valued at $78,740,000 after buying an additional 1,677,531 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Weiss Ratings cut Urban Edge Properties from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Urban Edge Properties in a research note on Friday, June 12th. Finally, UBS Group upped their target price on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $23.20.

Urban Edge Properties Price Performance

UE stock opened at $21.00 on Friday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 38.89 and a beta of 0.97. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.19. Urban Edge Properties has a 12-month low of $18.46 and a 12-month high of $24.11. The company’s fifty day simple moving average is $22.33 and its 200 day simple moving average is $21.81.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Thursday, August 6th. The real estate investment trust reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.03. Urban Edge Properties had a net margin of 13.72% and a return on equity of 4.92%. The business had revenue of $122.78 million for the quarter, compared to analysts’ expectations of $117.86 million. Urban Edge Properties has set its FY 2026 guidance at 1.500-1.540 EPS. On average, analysts expect that Urban Edge Properties will post 1.52 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.84 annualized dividend and a yield of 4.0%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 155.56%.

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.