Franklin Resources Inc. Reduces Stock Position in Urban Edge Properties $UE

Franklin Resources Inc. cut its holdings in Urban Edge Properties (NYSE:UE) by 40.0% during the 2nd quarter, Holdings Channel reports. The firm owned 112,085 shares of the real estate investment trust’s stock after selling 74,688 shares during the period. Franklin Resources Inc.’s holdings in Urban Edge Properties were worth $2,092,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CWM LLC lifted its holdings in Urban Edge Properties by 50.3% in the 2nd quarter. CWM LLC now owns 3,494 shares of the real estate investment trust’s stock worth $65,000 after buying an additional 1,169 shares during the period. MAI Capital Management purchased a new stake in Urban Edge Properties in the second quarter worth $66,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Urban Edge Properties in the first quarter valued at $79,000. AlphaQuest LLC increased its position in Urban Edge Properties by 1,058.9% during the 1st quarter. AlphaQuest LLC now owns 4,230 shares of the real estate investment trust’s stock valued at $80,000 after purchasing an additional 3,865 shares during the period. Finally, GAMMA Investing LLC increased its position in Urban Edge Properties by 85.8% during the 2nd quarter. GAMMA Investing LLC now owns 5,744 shares of the real estate investment trust’s stock valued at $107,000 after purchasing an additional 2,653 shares during the period. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on UE. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Urban Edge Properties in a research report on Monday. Morgan Stanley increased their price target on shares of Urban Edge Properties from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 24th. Evercore ISI lifted their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Monday, September 15th. LADENBURG THALM/SH SH began coverage on 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. Finally, BTIG Research assumed coverage on Urban Edge Properties in a research note on Monday, August 11th. They issued a “buy” rating and a $23.00 target price for the company. One equities research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Urban Edge Properties has an average rating of “Hold” and an average target price of $22.00.

Urban Edge Properties Trading Up 0.8%

NYSE:UE opened at $19.18 on Thursday. The firm has a market capitalization of $2.41 billion, a P/E ratio of 21.56 and a beta of 1.04. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.61 and a quick ratio of 2.61. Urban Edge Properties has a one year low of $15.66 and a one year high of $22.96. The company’s 50-day simple moving average is $19.50 and its 200 day simple moving average is $19.45.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Wednesday, October 29th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Urban Edge Properties had a net margin of 23.73% and a return on equity of 8.10%. The business had revenue of $120.13 million during the quarter, compared to the consensus estimate of $117.85 million. Urban Edge Properties has set its FY 2025 guidance at 1.420-1.440 EPS. As a group, analysts forecast that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.19 per share. The ex-dividend date is Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a yield of 4.0%. 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.