Exchange Traded Concepts LLC Takes Position in Urban Edge Properties (NYSE:UE)

Exchange Traded Concepts LLC acquired a new position in Urban Edge Properties (NYSE:UE - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,488 shares of the real estate investment trust's stock, valued at approximately $750,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of UE. Massachusetts Financial Services Co. MA bought a new position in Urban Edge Properties in the fourth quarter worth approximately $27,584,000. FMR LLC grew its stake in 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 worth $317,070,000 after purchasing an additional 835,885 shares in the last quarter. Hudson Bay Capital Management LP grew its stake in Urban Edge Properties by 56.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,800,970 shares of the real estate investment trust's stock worth $38,721,000 after purchasing an additional 646,960 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Urban Edge Properties by 101.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 922,517 shares of the real estate investment trust's stock worth $19,834,000 after purchasing an additional 464,553 shares in the last quarter. Finally, APG Asset Management US Inc. grew its stake in 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 worth $23,155,000 after purchasing an additional 456,343 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Activity

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the 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 filing with the SEC, which is available through this link. Company insiders own 2.40% of the company's stock.

Urban Edge Properties Stock Down 0.5%

NYSE UE traded down $0.09 during midday trading on Friday, hitting $18.59. 1,599,542 shares of the company traded hands, compared to its average volume of 924,950. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market cap of $2.34 billion, a PE ratio of 29.04 and a beta of 1.19. The company's 50-day simple moving average is $18.34 and its 200-day simple moving average is $19.53. Urban Edge Properties has a 52 week low of $15.66 and a 52 week high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Urban Edge Properties had a return on equity of 5.88% and a net margin of 17.23%. The firm had revenue of $118.17 million during the quarter, compared to analyst estimates of $119.05 million. As a group, equities research analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.19 per share. The ex-dividend date is Friday, June 13th. This represents a $0.76 annualized dividend and a dividend yield of 4.09%. Urban Edge Properties's dividend payout ratio is presently 118.75%.

Analyst Ratings Changes

Separately, Wall Street Zen cut Urban Edge Properties from a "hold" rating to a "sell" rating in a research note 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.