Fisher Asset Management LLC Sells 64,881 Shares of Urban Edge Properties $UE

Key Points

• Fisher Asset Management reduced its Urban Edge Properties stake by 9.0% in the fourth quarter, selling 64,881 shares and leaving it with 656,494 shares worth about $12.6 million.
• Insider selling also stood out, as CEO Jeffrey S. Olson sold 19,034 shares on May 11 for about $411,515, cutting his position by 83.85%.
• Urban Edge Properties reported stronger-than-expected quarterly results, with EPS of $0.18 versus a $0.12 estimate and revenue of $132.62 million, while maintaining a quarterly dividend of $0.21 per share.

Fisher Asset Management LLC lessened its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 656,494 shares of the real estate investment trust's stock after selling 64,881 shares during the period. Fisher Asset Management LLC owned approximately 0.52% of Urban Edge Properties worth $12,598,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in Urban Edge Properties by 7.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 7,564 shares of the real estate investment trust's stock worth $155,000 after acquiring an additional 539 shares during the period. Smartleaf Asset Management LLC grew its stake in Urban Edge Properties by 45.3% in the 3rd quarter. Smartleaf Asset Management LLC now owns 1,903 shares of the real estate investment trust's stock worth $38,000 after buying an additional 593 shares in the last quarter. ProShare Advisors LLC grew its stake in Urban Edge Properties by 3.2% in the 4th quarter. ProShare Advisors LLC now owns 24,728 shares of the real estate investment trust's stock worth $475,000 after buying an additional 776 shares in the last quarter. California State Teachers Retirement System grew its stake in Urban Edge Properties by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 112,542 shares of the real estate investment trust's stock worth $2,100,000 after buying an additional 816 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Urban Edge Properties by 33.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust's stock worth $71,000 after buying an additional 922 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

Insider Activity

In other news, CEO Jeffrey S. Olson sold 19,034 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $21.62, for a total value of $411,515.08. Following the completion of the sale, the chief executive officer owned 3,665 shares of the company's stock, valued at approximately $79,237.30. This represents a 83.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on UE. UBS Group boosted their price target on shares of Urban Edge Properties from $20.00 to $22.00 and gave the stock a "neutral" rating in a research note on Monday, May 18th. Weiss Ratings raised shares of Urban Edge Properties from a "buy (b-)" rating to a "buy (b)" rating in a research note on Wednesday, April 29th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $22.40.

Urban Edge Properties Price Performance

UE stock opened at $22.70 on Thursday. The company has a debt-to-equity ratio of 1.21, a current ratio of 2.08 and a quick ratio of 2.08. Urban Edge Properties has a one year low of $17.87 and a one year high of $22.93. The stock has a market cap of $2.86 billion, a PE ratio of 26.39 and a beta of 0.99. The firm has a 50 day simple moving average of $21.26 and a two-hundred day simple moving average of $20.23.

Urban Edge Properties (NYSE:UE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. Urban Edge Properties had a net margin of 22.20% and a return on equity of 7.80%. The company had revenue of $132.62 million during the quarter, compared to analysts' expectations of $119.45 million. Urban Edge Properties has set its FY 2026 guidance at 1.480-1.52 EPS. On average, analysts predict that Urban Edge Properties will post 1.5 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. Urban Edge Properties's dividend payout ratio is 97.67%.

Urban Edge Properties Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.

Want to see what other hedge funds are holding UE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Urban Edge Properties (NYSE:UE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.