Bank of America Corp DE Lowers Stock Holdings in Urban Edge Properties (NYSE:UE)

Bank of America Corp DE lessened its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.25% of Urban Edge Properties worth $6,811,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. KBC Group NV raised its position in Urban Edge Properties by 42.1% during the 4th quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust's stock valued at $111,000 after purchasing an additional 1,524 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Urban Edge Properties during the 4th quarter worth $486,000. Swiss National Bank grew its stake in Urban Edge Properties by 2.9% during the 4th quarter. Swiss National Bank now owns 238,609 shares of the real estate investment trust's stock valued at $5,130,000 after purchasing an additional 6,700 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Urban Edge Properties during the 4th quarter valued at about $1,022,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Urban Edge Properties by 13.4% in the 4th quarter. Van ECK Associates Corp now owns 23,855 shares of the real estate investment trust's stock valued at $513,000 after buying an additional 2,824 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the firm's stock in a transaction 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 SEC, which can be accessed through this link. Insiders own 2.40% of the company's stock.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock traded down $0.15 during mid-day trading on Friday, reaching $18.13. 201,295 shares of the stock traded hands, compared to its average volume of 917,248. 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 has a 50-day moving average of $18.16 and a 200 day moving average of $20.04. The stock has a market capitalization of $2.28 billion, a PE ratio of 30.72 and a beta of 1.16. Urban Edge Properties has a fifty-two week low of $15.66 and a fifty-two week high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly 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 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%. On average, analysts predict that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 4.19%. 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.