Bank of America Corp DE Sells 80,073 Shares of Urban Edge Properties (NYSE:UE)

Bank of America Corp DE lessened its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 20.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 316,796 shares of the real estate investment trust's stock after selling 80,073 shares during the quarter. Bank of America Corp DE owned 0.25% of Urban Edge Properties worth $6,811,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in UE. Massachusetts Financial Services Co. MA bought a new stake in shares of Urban Edge Properties in the fourth quarter valued at about $27,584,000. FMR LLC lifted its holdings in shares of Urban Edge Properties by 6.0% in the fourth quarter. FMR LLC now owns 14,747,456 shares of the real estate investment trust's stock valued at $317,070,000 after purchasing an additional 835,885 shares in the last quarter. APG Asset Management US Inc. lifted its holdings in shares of Urban Edge Properties by 73.5% in the fourth quarter. APG Asset Management US Inc. now owns 1,076,955 shares of the real estate investment trust's stock valued at $23,155,000 after purchasing an additional 456,343 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Urban Edge Properties by 27.2% in the fourth quarter. Northern Trust Corp now owns 1,971,784 shares of the real estate investment trust's stock valued at $42,393,000 after purchasing an additional 421,513 shares in the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC lifted its holdings in shares of Urban Edge Properties by 718.6% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 447,487 shares of the real estate investment trust's stock valued at $9,621,000 after purchasing an additional 392,820 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company's stock.

Insider Activity at Urban Edge Properties

In related news, General Counsel Robert C. Milton sold 26,000 shares of Urban Edge Properties stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total transaction of $488,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.40% of the stock is owned by company insiders.

Urban Edge Properties Stock Down 0.8%

Shares of NYSE:UE traded down $0.14 during midday trading on Friday, reaching $18.13. The company had a trading volume of 824,074 shares, compared to its average volume of 920,644. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15. The business's 50 day moving average price is $18.15 and its 200 day moving average price is $19.98. The stock has a market cap of $2.28 billion, a PE ratio of 30.73 and a beta of 1.16. Urban Edge Properties has a 1-year low of $15.66 and a 1-year high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $118.17 million for the quarter, compared to the consensus estimate of $119.05 million. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Research analysts forecast 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 will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.19%. The ex-dividend date is Friday, June 13th. Urban Edge Properties's dividend payout ratio is currently 118.75%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Urban Edge Properties from a "hold" rating to a "sell" rating in a report on Monday, May 5th.

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.