Bank of New York Mellon Corp Has $25.47 Million Stake in Urban Edge Properties (NYSE:UE)

Bank of New York Mellon Corp reduced its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 21.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,340,757 shares of the real estate investment trust's stock after selling 358,377 shares during the period. Bank of New York Mellon Corp owned 1.07% of Urban Edge Properties worth $25,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. GF Fund Management CO. LTD. purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at approximately $47,000. Quarry LP purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at approximately $49,000. Sterling Capital Management LLC boosted its stake in shares of Urban Edge Properties by 858.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 3,555 shares during the period. Cary Street Partners Financial LLC purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at approximately $206,000. Finally, Yoffe Investment Management LLC purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at approximately $224,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Urban Edge Properties from a "hold" rating to a "sell" rating in a research note on Friday.

Urban Edge Properties Stock Up 0.1%

NYSE UE traded up $0.02 on Friday, reaching $19.27. The company had a trading volume of 948,400 shares, compared to its average volume of 904,867. The firm has a market capitalization of $2.42 billion, a PE ratio of 30.11 and a beta of 1.18. Urban Edge Properties has a 1 year low of $15.66 and a 1 year high of $23.85. The firm has a 50-day moving average of $18.60 and a 200-day moving average of $19.09. 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 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 the consensus estimate of $0.34 by $0.01. The business had revenue of $118.17 million for the quarter, compared to analyst estimates of $119.05 million. Urban Edge Properties had a return on equity of 5.88% and a net margin of 17.23%. On average, equities research analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were paid a $0.19 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 3.94%. Urban Edge Properties's dividend payout ratio is currently 118.75%.

Insiders Place Their Bets

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the firm's 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.40% of the company's stock.

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.