Jennison Associates LLC Buys 23,450 Shares of Urban Edge Properties (NYSE:UE)

Jennison Associates LLC boosted its stake in Urban Edge Properties (NYSE:UE - Free Report) by 0.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,193,048 shares of the real estate investment trust's stock after purchasing an additional 23,450 shares during the quarter. Jennison Associates LLC owned approximately 2.54% of Urban Edge Properties worth $60,668,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. GF Fund Management CO. LTD. purchased a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $47,000. Quarry LP purchased a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $49,000. Sterling Capital Management LLC raised its holdings in shares of Urban Edge Properties by 858.7% in the 4th quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust's stock valued at $85,000 after acquiring an additional 3,555 shares in the last quarter. Cary Street Partners Financial LLC purchased a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $206,000. Finally, Yoffe Investment Management LLC purchased a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $224,000. Institutional investors own 94.94% of the company's stock.

Insider Activity

In other news, General Counsel Robert C. Milton sold 26,000 shares of the company's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total value of $488,280.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Urban Edge Properties from a "hold" rating to a "sell" rating in a report on Friday.

Urban Edge Properties Stock Up 0.1%

Shares of NYSE UE traded up $0.02 during mid-day trading on Friday, hitting $19.27. 948,400 shares of the stock traded hands, compared to its average volume of 904,867. The company has a debt-to-equity ratio of 1.16, a quick ratio of 2.29 and a current ratio of 2.29. Urban Edge Properties has a 52 week low of $15.66 and a 52 week high of $23.85. The company has a market cap of $2.42 billion, a price-to-earnings ratio of 30.11 and a beta of 1.18. The stock has a fifty day moving average price of $18.60 and a 200-day moving average price of $19.09.

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 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 business had revenue of $118.17 million for the quarter, compared to the consensus estimate of $119.05 million. Research analysts anticipate that Urban Edge Properties will post 1.4 EPS 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 paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, June 13th. Urban Edge Properties's dividend payout ratio (DPR) is currently 118.75%.

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.