Allianz Asset Management GmbH Invests $2.37 Million in Urban Edge Properties (NYSE:UE)

Key Points

• Allianz Asset Management GmbH has invested approximately $2.37 million in Urban Edge Properties, acquiring 124,882 shares during the first quarter of the year.
• Urban Edge Properties reported a quarterly EPS of $0.35, slightly exceeding analysts' expectations, while also announcing a quarterly dividend of $0.19 per share.
• Recent changes in institutional investments include Bailard Inc. increasing its stake by 90.6%, while other firms like Jennison Associates LLC and Massachusetts Financial Services Co. also boosted their positions in the company.

Allianz Asset Management GmbH acquired a new stake in Urban Edge Properties (NYSE:UE - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 124,882 shares of the real estate investment trust's stock, valued at approximately $2,373,000. Allianz Asset Management GmbH owned 0.10% of Urban Edge Properties at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Arizona State Retirement System raised its holdings in Urban Edge Properties by 1.7% in the first quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust's stock worth $681,000 after purchasing an additional 605 shares during the period. Contravisory Investment Management Inc. raised its holdings in Urban Edge Properties by 6.6% in the first quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 758 shares during the period. Summit Investment Advisors Inc. raised its holdings in Urban Edge Properties by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,176 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 778 shares during the period. Bank of Montreal Can raised its holdings in Urban Edge Properties by 6.4% in the fourth quarter. Bank of Montreal Can now owns 17,911 shares of the real estate investment trust's stock worth $385,000 after purchasing an additional 1,078 shares during the period. Finally, California State Teachers Retirement System raised its holdings in Urban Edge Properties by 1.0% in the fourth quarter. California State Teachers Retirement System now owns 113,836 shares of the real estate investment trust's stock worth $2,447,000 after purchasing an additional 1,158 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Urban Edge Properties from a "hold" rating to a "sell" rating in a research report on Friday, July 18th.

Insiders Place Their Bets

In related news, General Counsel Robert C. Milton sold 26,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $18.78, for a total value of $488,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company's stock.

Urban Edge Properties Stock Down 3.3%

Shares of UE stock traded down $0.66 during trading hours on Friday, hitting $19.07. 1,994,494 shares of the company were exchanged, compared to its average volume of 969,734. The business has a 50 day moving average of $18.83 and a two-hundred day moving average of $19.05. The company has a current ratio of 2.39, a quick ratio of 2.29 and a debt-to-equity ratio of 1.09. Urban Edge Properties has a 52 week low of $15.66 and a 52 week high of $23.85. The company has a market capitalization of $2.40 billion, a PE ratio of 22.70 and a beta of 1.18.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.02. Urban Edge Properties had a net margin of 22.86% and a return on equity of 7.74%. The company had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.99 million. Analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.19 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 4.0%. Urban Edge Properties's dividend payout ratio (DPR) is 90.48%.

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.