Bank of New York Mellon Corp trimmed its stake in Urban Edge Properties (NYSE:UE - Free Report) by 21.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,340,757 shares of the real estate investment trust's stock after selling 358,377 shares during the quarter. Bank of New York Mellon Corp owned about 1.07% of Urban Edge Properties worth $25,474,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the stock. Contravisory Investment Management Inc. lifted its position in shares of Urban Edge Properties by 6.6% during the first quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock valued at $231,000 after purchasing an additional 758 shares in the last quarter. Summit Investment Advisors Inc. grew its stake in Urban Edge Properties by 6.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 13,176 shares of the real estate investment trust's stock worth $283,000 after buying an additional 778 shares in the last quarter. Bank of Montreal Can grew its stake in Urban Edge Properties by 6.4% in the 4th quarter. Bank of Montreal Can now owns 17,911 shares of the real estate investment trust's stock worth $385,000 after buying an additional 1,078 shares in the last quarter. Maryland State Retirement & Pension System boosted its stake in shares of Urban Edge Properties by 2.6% in the 4th quarter. Maryland State Retirement & Pension System now owns 42,052 shares of the real estate investment trust's stock valued at $904,000 after purchasing an additional 1,079 shares in the last quarter. Finally, UniSuper Management Pty Ltd boosted its stake in shares of Urban Edge Properties by 3.3% in the 4th quarter. UniSuper Management Pty Ltd now owns 34,800 shares of the real estate investment trust's stock valued at $748,000 after purchasing an additional 1,100 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, General Counsel Robert C. Milton sold 26,000 shares of the company's stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by insiders.
Urban Edge Properties Stock Performance
Shares of NYSE:UE traded up $0.09 during trading on Thursday, hitting $19.30. The company's stock had a trading volume of 934,040 shares, compared to its average volume of 903,213. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 30.16 and a beta of 1.18. The company has a 50-day moving average of $18.57 and a 200-day moving average of $19.13. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.29 and a quick ratio of 2.29.
Urban Edge Properties (NYSE:UE - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Urban Edge Properties had a net margin of 17.23% and a return on equity of 5.88%. The firm had revenue of $118.17 million for the quarter, compared to analysts' expectations of $119.05 million. On average, sell-side analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current year.
Urban Edge Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.94%. The ex-dividend date of this dividend was Friday, June 13th. Urban Edge Properties's payout ratio is 118.75%.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen lowered shares of Urban Edge Properties from a "hold" rating to a "sell" rating in a report on Monday, May 5th.
Check Out Our Latest Stock Report on UE
Urban Edge Properties Profile
(
Free Report)
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.
See Also
Before you consider Urban Edge Properties, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Urban Edge Properties wasn't on the list.
While Urban Edge Properties currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Enter your email to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
