The world of real estate investment trusts (REITs) is one that requires an eye for detail and an avid interest in numbers. As such, when institutional investors like First Trust Advisors LP make significant moves in their positions within particular REITs, it can cause a ripple effect throughout the industry. Such was the case when First Trust Advisors LP trimmed its stake in Urban Edge Properties by 12.6% during the fourth quarter of 2022.
According to disclosure documents filed with the Securities and Exchange Commission, First Trust Advisors LP owned 123,755 shares of Urban Edge Properties at the end of the quarter, which translates to a value of $1.74 million. While this may seem like a drop in the bucket compared to larger financial institutions or wealthy private investors, the fact that such a major player in the world of finance opted to reduce its position speaks volumes about Urban Edge Properties’ future prospects.
Urban Edge Properties operates as a REIT with a focus on retail real estate acquisition, development, redevelopment and management. The company’s portfolio includes shopping centers, malls, and industrial parks beginning from its founding on June 18th, 2014. The nature of their properties makes them particularly sensitive to market demands and trends – a fact reflected in their most recent quarterly earnings report.
On May 9th of this year, Urban Edge Properties released Q1 financial results reflecting an earnings per share (EPS) figure that came up short of market expectations by $0.45 due to losses incurred by large tenants defaulting on rent payments. However, despite this shaky start to their fiscal year-which ends on December 31st-market analysts remain optimistic about UE’s prospects for recovery over time.
With an expected EPS figure of around $1.16 for their current fiscal year being touted by research analysts familiar with Urban Edge Properties’ operations and portfolio composition as a whole; there is plenty to pique investor interest in this REIT. As the global economy continues its slow crawl out of pandemic-induced slumps, it remains to be seen how Urban Edge Properties’ fortunes will fare on the back of Q1’s less-than-rosy returns. Nonetheless, for investors looking to capitalize on retail real estate opportunities, UE is still worth considering, given its assets and market position.
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Investors Show Confidence in Urban Edge Properties’ Growth Potential
Urban Edge Properties: A Closer Look at Recent Market Trends
On June 4, 2023, Urban Edge Properties, a New York-based retail real estate investment trust, received significant investments from several hedge funds. BlackRock Inc., Fisher Asset Management LLC, Vanguard Group Inc., State Street Corp, and Centersquare Investment Management LLC have all purchased or increased their stake in the company’s stock.
BlackRock Inc.’s investment saw a sharp rise of 29.0% during the first quarter alone, with the firm now owning over 20 million shares in Urban Edge Properties. Fisher Asset Management LLC also recently bought shares worth approximately $22 million. Vanguard Group Inc. lifted its position by 7.1% while State Street Corp increased their share by as much as 18.1%.
Centersquare Investment Management LLC owns just over two million shares and has recently invested an additional $838,258, adding to what is already a considerable ownership percentage of Urban Edge Properties’ stock held by hedge funds.
Shares of UE opened at $13.90 on Friday June 4th and have been fluctuating between $12.91 and $18.51 over the last year with no signs of major market volatility happening anytime soon.
Urban Edge Properties prides itself on engaging in acquisitions and development that promote retail real estate growth–a key player in ensuring long-term economic growth for any society.
The overall trend currently being seen with Urban Edge Properties suggests rising confidence in its potential for growth over time. StockNews.com issued a “sell” rating for the company on May 18th indicating that there are some doubts concerning the stock even though the company continues to pay dividends.
In conclusion, it appears we will likely see substantial investments made in Urban Edge Properties as more firms continue to recognize its strong potential for future growth and development – something only possible through sound financial management practices.