Summit Global Investments Buys 32,921 Shares of Urban Edge Properties $UE

Summit Global Investments lifted its stake in Urban Edge Properties (NYSE:UE) by 288.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 44,332 shares of the real estate investment trust’s stock after purchasing an additional 32,921 shares during the period. Summit Global Investments’ holdings in Urban Edge Properties were worth $886,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its position in shares of Urban Edge Properties by 426.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,071 shares during the period. Global Retirement Partners LLC lifted its holdings in Urban Edge Properties by 2,108.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust’s stock worth $26,000 after buying an additional 1,307 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Urban Edge Properties during the 3rd quarter valued at approximately $52,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Urban Edge Properties by 33.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust’s stock worth $71,000 after acquiring an additional 922 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Urban Edge Properties during the 4th quarter worth approximately $75,000. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $23.57 on Wednesday. The firm has a market cap of $2.97 billion, a P/E ratio of 27.41 and a beta of 0.97. Urban Edge Properties has a twelve month low of $18.46 and a twelve month high of $24.11. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.21. The company has a 50 day moving average of $22.72 and a 200 day moving average of $21.26.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $132.62 million during the quarter, compared to analyst estimates of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%.Urban Edge Properties has set its FY 2026 guidance at 1.480-1.52 EPS. As a group, research analysts expect that Urban Edge Properties will post 1.49 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

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

Insiders Place Their Bets

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 161,553 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $21.73, for a total transaction of $3,510,546.69. Following the transaction, the chief executive officer owned 22,699 shares in the company, valued at approximately $493,249.27. This represents a 87.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

Analyst Upgrades and Downgrades

UE has been the subject of a number of research analyst reports. BTIG Research restated a “buy” rating and issued a $25.00 target price on shares of Urban Edge Properties in a research note on Friday, June 12th. UBS Group upped their price target on Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings upgraded Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $23.20.

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.