Millennium Management LLC lessened its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 62.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 774,507 shares of the real estate investment trust's stock after selling 1,313,875 shares during the quarter. Millennium Management LLC owned approximately 0.62% of Urban Edge Properties worth $16,652,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in UE. Barclays PLC boosted its holdings in shares of Urban Edge Properties by 346.2% during the third quarter. Barclays PLC now owns 221,007 shares of the real estate investment trust's stock worth $4,727,000 after acquiring an additional 171,478 shares during the period. Blue Trust Inc. boosted its holdings in shares of Urban Edge Properties by 22.8% during the fourth quarter. Blue Trust Inc. now owns 9,760 shares of the real estate investment trust's stock worth $209,000 after acquiring an additional 1,813 shares during the period. KBC Group NV boosted its holdings in shares of Urban Edge Properties by 42.1% during the fourth quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust's stock worth $111,000 after acquiring an additional 1,524 shares during the period. Custom Index Systems LLC bought a new stake in shares of Urban Edge Properties during the fourth quarter worth approximately $213,000. Finally, Jennison Associates LLC boosted its holdings in shares of Urban Edge Properties by 6.9% during the fourth quarter. Jennison Associates LLC now owns 3,169,598 shares of the real estate investment trust's stock worth $68,146,000 after acquiring an additional 203,569 shares during the period. Institutional investors own 94.94% of the company's stock.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut Urban Edge Properties from a "hold" rating to a "sell" rating in a research note on Monday, May 5th.
View Our Latest Stock Report on UE
Urban Edge Properties Trading Down 3.1%
Shares of UE stock opened at $17.72 on Thursday. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.15. The stock has a market cap of $2.23 billion, a P/E ratio of 30.03 and a beta of 1.16. The stock has a 50 day simple moving average of $18.27 and a 200 day simple moving average of $20.25. Urban Edge Properties has a 1 year low of $15.66 and a 1 year high of $23.85.
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 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Urban Edge Properties had a net margin of 16.31% and a return on equity of 5.59%. The business had revenue of $118.17 million during the quarter, compared to the consensus estimate of $119.05 million. On average, research analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.
Urban Edge Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.76 annualized dividend and a yield of 4.29%. Urban Edge Properties's dividend payout ratio is currently 118.75%.
Insider Buying and Selling at Urban Edge Properties
In other news, General Counsel Robert C. Milton sold 26,000 shares of the company's stock in a transaction on 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.40% of the company's stock.
About Urban Edge Properties
(
Free Report)
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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