Consider lines:
UTexture* MyTexture; // defines a pointer to an object of type UTexture
MyTexture = NewObject<UTexture>();// instantiates the object (allocates memory and calls the constructor)
defines a variable called MyTexture that is a pointer to an object of type UTexture. A pointer is a variable that holds the ADDRESS of the object you are pointing to in memory. No memory is allocated for the object itself on the first line above.
See standard C or C++ docs for more details on pointers.