VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 75,770 Urban Edge Properties $UE

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Urban Edge Properties (NYSE:UE) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 75,770 shares of the real estate investment trust’s stock, valued at approximately $1,414,000.

Several other hedge funds have also made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its holdings in Urban Edge Properties by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,300 shares of the real estate investment trust’s stock worth $671,000 after purchasing an additional 3,031 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Urban Edge Properties by 3.2% in the first quarter. Illinois Municipal Retirement Fund now owns 68,455 shares of the real estate investment trust’s stock valued at $1,301,000 after purchasing an additional 2,141 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Urban Edge Properties by 3.0% in the first quarter. Principal Financial Group Inc. now owns 718,055 shares of the real estate investment trust’s stock valued at $13,643,000 after purchasing an additional 20,835 shares during the last quarter. Arizona State Retirement System grew its position in shares of Urban Edge Properties by 1.7% in the first quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust’s stock valued at $681,000 after purchasing an additional 605 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its position in Urban Edge Properties by 37.2% during the first quarter. Edgestream Partners L.P. now owns 39,000 shares of the real estate investment trust’s stock worth $741,000 after acquiring an additional 10,570 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Urban Edge Properties Stock Up 1.1%

NYSE UE opened at $20.33 on Thursday. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The company’s 50 day simple moving average is $20.28 and its 200 day simple moving average is $19.18. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.39 and a quick ratio of 2.39. The company has a market capitalization of $2.56 billion, a P/E ratio of 24.20 and a beta of 1.26.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $113.91 million for the quarter, compared to analyst estimates of $115.99 million. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. Equities research analysts expect that Urban Edge Properties will post 1.4 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 Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, September 15th. Urban Edge Properties’s payout ratio is currently 90.48%.

Analysts Set New Price Targets

UE has been the topic of a number of research analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Urban Edge Properties in a report on Wednesday, October 8th. BTIG Research started coverage on shares of Urban Edge Properties in a research note on Monday, August 11th. They set a “buy” rating and a $23.00 price target on the stock. LADENBURG THALM/SH SH started coverage on shares of Urban Edge Properties in a research report on Tuesday, September 9th. They issued a “neutral” rating and a $23.00 target price for the company. Wall Street Zen raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Saturday, August 2nd. Finally, Morgan Stanley raised their price target on Urban Edge Properties from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Urban Edge Properties currently has an average rating of “Hold” and an average price target of $22.25.

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.