Carrera Capital Advisors Increases Stake in Urban Edge Properties (NYSE:UE)

Key Points

• Carrera Capital Advisors increased its stake in Urban Edge Properties by 18.1%, bringing its total ownership to approximately $1.8 million worth of shares.
• Analysts at Wall Street Zen have downgraded Urban Edge Properties from a "hold" to a "sell" rating, indicating a shift in market sentiment.
• The company recently paid a quarterly dividend of $0.19 per share, representing an annualized yield of 3.86%, despite a high payout ratio of 118.75%.

Carrera Capital Advisors boosted its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 18.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 95,939 shares of the real estate investment trust's stock after purchasing an additional 14,681 shares during the quarter. Carrera Capital Advisors owned about 0.08% of Urban Edge Properties worth $1,823,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in Urban Edge Properties in the 4th quarter worth approximately $1,022,000. Thrivent Financial for Lutherans boosted its holdings in shares of Urban Edge Properties by 1.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 96,519 shares of the real estate investment trust's stock worth $2,075,000 after buying an additional 1,237 shares during the last quarter. KLP Kapitalforvaltning AS purchased a new position in shares of Urban Edge Properties in the fourth quarter worth approximately $529,000. Vanguard Group Inc. boosted its holdings in shares of Urban Edge Properties by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,962,196 shares of the real estate investment trust's stock worth $429,187,000 after buying an additional 213,478 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Urban Edge Properties by 68.2% in the fourth quarter. Prudential Financial Inc. now owns 320,211 shares of the real estate investment trust's stock worth $6,885,000 after buying an additional 129,875 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Urban Edge Properties from a "hold" rating to a "sell" rating in a report on Friday, July 18th.

Urban Edge Properties Price Performance

NYSE UE opened at $19.70 on Friday. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The stock has a market cap of $2.48 billion, a price-to-earnings ratio of 30.77 and a beta of 1.18. The company's 50 day moving average is $18.69 and its two-hundred day moving average is $19.05. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 1.16.

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 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $118.17 million for the quarter, compared to analysts' expectations of $119.05 million. As a group, research analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend was Friday, June 13th. Urban Edge Properties's payout ratio is currently 118.75%.

Insider Activity

In other news, General Counsel Robert C. Milton sold 26,000 shares of Urban Edge Properties stock in a transaction that occurred on Tuesday, May 13th. The shares were 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 SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by insiders.

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.

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