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

Bank of New York Mellon Corp grew its position in Urban Edge Properties (NYSE:UE) by 5.9% in the first quarter, HoldingsChannel.com reports. The fund owned 1,252,067 shares of the real estate investment trust’s stock after buying an additional 69,244 shares during the period. Bank of New York Mellon Corp’s holdings in Urban Edge Properties were worth $25,016,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP bought a new stake in shares of Urban Edge Properties in the 3rd quarter valued at about $92,600,000. Balyasny Asset Management L.P. bought a new stake in Urban Edge Properties in the fourth quarter valued at approximately $16,858,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Urban Edge Properties in the fourth quarter valued at approximately $12,777,000. Bayhunt Capital LLC acquired a new stake in shares of Urban Edge Properties in the fourth quarter valued at approximately $10,430,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Urban Edge Properties by 28.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,220,870 shares of the real estate investment trust’s stock valued at $42,618,000 after buying an additional 490,910 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on UE shares. Weiss Ratings raised Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Urban Edge Properties in a report on Friday, June 12th. Finally, UBS Group lifted their price objective on shares of Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.20.

Urban Edge Properties Price Performance

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 firm’s 50-day simple moving average is $22.85 and its 200 day simple moving average is $21.38. The firm has a market cap 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. Urban Edge Properties had a net margin of 22.20% and a return on equity of 7.80%. The firm had revenue of $132.62 million during the quarter, compared to the consensus estimate of $119.45 million. Urban Edge Properties has set its FY 2026 guidance at 1.480-1.52 EPS. As a group, sell-side analysts predict that Urban Edge Properties will post 1.49 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, June 15th. Urban Edge Properties’s payout ratio is 97.67%.

Insider Activity

In related news, CEO Jeffrey S. Olson sold 19,034 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $21.62, for a total transaction of $411,515.08. Following the sale, the chief executive officer owned 3,665 shares of the company’s stock, valued at $79,237.30. This represents a 83.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

Urban Edge Properties Profile

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.