GW&K Investment Management LLC Makes New Investment in Urban Edge Properties (NYSE:UE)

GW&K Investment Management LLC acquired a new stake in Urban Edge Properties (NYSE:UE - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 290,077 shares of the real estate investment trust's stock, valued at approximately $5,511,000. GW&K Investment Management LLC owned about 0.23% of Urban Edge Properties at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Urban Edge Properties by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 19,962,196 shares of the real estate investment trust's stock valued at $429,187,000 after purchasing an additional 213,478 shares during the period. FMR LLC raised its position in Urban Edge Properties by 6.0% during the fourth quarter. FMR LLC now owns 14,747,456 shares of the real estate investment trust's stock worth $317,070,000 after acquiring an additional 835,885 shares during the period. Jennison Associates LLC raised its position in Urban Edge Properties by 0.7% during the first quarter. Jennison Associates LLC now owns 3,193,048 shares of the real estate investment trust's stock worth $60,668,000 after acquiring an additional 23,450 shares during the period. Geode Capital Management LLC raised its position in Urban Edge Properties by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 3,191,932 shares of the real estate investment trust's stock worth $68,640,000 after acquiring an additional 82,324 shares during the period. Finally, Resolution Capital Ltd raised its position in Urban Edge Properties by 2.5% during the fourth quarter. Resolution Capital Ltd now owns 2,897,436 shares of the real estate investment trust's stock worth $62,295,000 after acquiring an additional 71,290 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Urban Edge Properties Trading Up 0.1%

Shares of UE traded up $0.03 during mid-day trading on Thursday, reaching $19.84. The stock had a trading volume of 806,677 shares, compared to its average volume of 940,334. 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 has a 52-week low of $15.66 and a 52-week high of $23.85. The business's fifty day moving average is $18.66 and its 200 day moving average is $19.07. The firm has a market cap of $2.49 billion, a price-to-earnings ratio of 31.00 and a beta of 1.18.

Urban Edge Properties (NYSE:UE - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $118.17 million during the quarter, compared to analyst estimates of $119.05 million. On average, sell-side analysts predict that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date of this dividend was Friday, June 13th. Urban Edge Properties's dividend payout ratio is currently 118.75%.

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 shares were 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 is accessible through the SEC website. Corporate insiders own 2.40% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.