124,882 Shares in Urban Edge Properties (NYSE:UE) Purchased by Allianz Asset Management GmbH

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 bought a new position in Urban Edge Properties (NYSE:UE - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 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 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in Urban Edge Properties during the fourth quarter valued at about $1,022,000. KLP Kapitalforvaltning AS bought a new stake in Urban Edge Properties during the fourth quarter valued at about $529,000. Vanguard Group Inc. boosted its position in Urban Edge Properties by 1.1% during the fourth quarter. Vanguard Group Inc. now owns 19,962,196 shares of the real estate investment trust's stock valued at $429,187,000 after purchasing an additional 213,478 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Urban Edge Properties by 5.6% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 82,171 shares of the real estate investment trust's stock valued at $1,756,000 after purchasing an additional 4,321 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Urban Edge Properties by 28.0% in the fourth quarter. JPMorgan Chase & Co. now owns 860,064 shares of the real estate investment trust's stock worth $18,491,000 after acquiring an additional 188,130 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Saturday.

Insider Activity at Urban Edge Properties

In other news, General Counsel Robert C. Milton sold 26,000 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total value of $488,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by company insiders.

Urban Edge Properties Stock Down 3.3%

NYSE UE traded down $0.66 during trading on Friday, hitting $19.07. The company's stock had a trading volume of 1,994,494 shares, compared to its average volume of 1,011,753. Urban Edge Properties has a fifty-two week low of $15.66 and a fifty-two week high of $23.85. The company has a market cap of $2.40 billion, a PE ratio of 22.70 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.39 and a quick ratio of 2.29. The business's 50 day simple moving average is $18.86 and its 200-day simple moving average is $19.04.

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

Urban Edge Properties Dividend Announcement

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

About Urban Edge Properties

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.