Raymond James Financial Inc. Makes New $1.02 Million Investment in Urban Edge Properties (NYSE:UE)

Raymond James Financial Inc. acquired a new position in Urban Edge Properties (NYSE:UE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 47,518 shares of the real estate investment trust's stock, valued at approximately $1,022,000.

A number of other hedge funds have also bought and sold shares of UE. Daiwa Securities Group Inc. grew its stake in Urban Edge Properties by 1.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 41,057 shares of the real estate investment trust's stock valued at $883,000 after acquiring an additional 659 shares in the last quarter. Amalgamated Bank grew its position in shares of Urban Edge Properties by 2.0% during the 4th quarter. Amalgamated Bank now owns 36,272 shares of the real estate investment trust's stock valued at $780,000 after purchasing an additional 724 shares in the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Urban Edge Properties by 2.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,384 shares of the real estate investment trust's stock worth $632,000 after purchasing an additional 800 shares during the period. Arizona State Retirement System boosted its stake in Urban Edge Properties by 2.9% during the fourth quarter. Arizona State Retirement System now owns 35,213 shares of the real estate investment trust's stock valued at $757,000 after buying an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Urban Edge Properties by 76.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,029 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut Urban Edge Properties from a "hold" rating to a "sell" rating in a report on Monday, May 5th.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock traded down $0.03 on Friday, hitting $18.39. 951,759 shares of the company traded hands, compared to its average volume of 916,620. Urban Edge Properties has a 12-month low of $15.66 and a 12-month high of $23.85. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.15. The company has a market cap of $2.31 billion, a P/E ratio of 31.17 and a beta of 1.16. The firm's 50-day simple moving average is $18.39 and its 200 day simple moving average is $20.43.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $118.17 million during the quarter, compared to analyst estimates of $119.05 million. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend is Friday, June 13th. Urban Edge Properties's payout ratio is currently 118.75%.

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.