Assetmark Inc. Trims Position in Urban Edge Properties (NYSE:UE)

Key Points

• Assetmark Inc. has reduced its stake in Urban Edge Properties by 76.5%, selling 32,035 shares and leaving it with 9,820 shares worth $187,000.
• Several institutional investors have increased their stakes in Urban Edge Properties, including GW&K Investment Management, which acquired shares valued at approximately $5.5 million.
• Urban Edge Properties recently announced a quarterly dividend of $0.19 per share, reflecting a 4.0% dividend yield and a payout ratio of 90.48%.

Assetmark Inc. cut its holdings in Urban Edge Properties (NYSE:UE - Free Report) by 76.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,820 shares of the real estate investment trust's stock after selling 32,035 shares during the period. Assetmark Inc.'s holdings in Urban Edge Properties were worth $187,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Arizona State Retirement System boosted its holdings in Urban Edge Properties by 1.7% in the 1st quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust's stock valued at $681,000 after purchasing an additional 605 shares during the period. Contravisory Investment Management Inc. lifted its holdings in shares of Urban Edge Properties by 6.6% during the 1st quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock worth $231,000 after acquiring an additional 758 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Urban Edge Properties by 6.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,176 shares of the real estate investment trust's stock worth $283,000 after acquiring an additional 778 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of Urban Edge Properties by 6.4% during the 4th quarter. Bank of Montreal Can now owns 17,911 shares of the real estate investment trust's stock worth $385,000 after acquiring an additional 1,078 shares during the last quarter. Finally, California State Teachers Retirement System raised its position in Urban Edge Properties by 1.0% in the 4th 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 owned by institutional investors.

Insider Buying and Selling at Urban Edge Properties

In other news, General Counsel Robert C. Milton sold 26,000 shares of Urban Edge Properties stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $18.78, for a total transaction of $488,280.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company's stock.

Analyst Upgrades and Downgrades

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

Urban Edge Properties Trading Up 2.1%

NYSE:UE traded up $0.41 during trading hours on Tuesday, reaching $19.85. The company's stock had a trading volume of 1,774,982 shares, compared to its average volume of 1,166,555. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 23.63 and a beta of 1.24. The firm has a 50-day simple moving average of $18.90 and a 200-day simple moving average of $19.02. Urban Edge Properties has a 1 year low of $15.66 and a 1 year high of $23.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.39 and a current ratio of 2.39.

Urban Edge Properties (NYSE:UE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $113.91 million for the quarter, compared to analysts' expectations of $115.99 million. Research analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.8%. Urban Edge Properties's payout ratio is presently 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.