New Age Alpha Advisors LLC Takes $411,000 Position in Urban Edge Properties (NYSE:UE)

Key Points

• New Age Alpha Advisors LLC made a new investment of approximately $411,000 in Urban Edge Properties (NYSE:UE) by acquiring 21,634 shares during the 1st quarter.
• Other institutional investors also increased their stakes in Urban Edge Properties, with total ownership by such entities reaching 94.94% of the company's stock.
• The company recently declared a quarterly dividend of $0.19, with an ex-dividend date of September 15th, representing an annualized dividend yield of 3.9%.

New Age Alpha Advisors LLC purchased a new position in shares of Urban Edge Properties (NYSE:UE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 21,634 shares of the real estate investment trust's stock, valued at approximately $411,000.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its stake in shares of Urban Edge Properties by 6.0% in the 4th quarter. FMR LLC now owns 14,747,456 shares of the real estate investment trust's stock valued at $317,070,000 after purchasing an additional 835,885 shares during the period. Hudson Bay Capital Management LP lifted its stake in shares of Urban Edge Properties by 56.1% in the 4th quarter. Hudson Bay Capital Management LP now owns 1,800,970 shares of the real estate investment trust's stock valued at $38,721,000 after purchasing an additional 646,960 shares during the period. Balyasny Asset Management L.P. lifted its stake in shares of Urban Edge Properties by 101.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 922,517 shares of the real estate investment trust's stock valued at $19,834,000 after purchasing an additional 464,553 shares during the period. Northern Trust Corp lifted its stake in shares of Urban Edge Properties by 27.2% in the 4th quarter. Northern Trust Corp now owns 1,971,784 shares of the real estate investment trust's stock valued at $42,393,000 after purchasing an additional 421,513 shares during the period. Finally, Marshall Wace LLP lifted its stake in shares of Urban Edge Properties by 36.2% in the 4th quarter. Marshall Wace LLP now owns 1,309,623 shares of the real estate investment trust's stock valued at $28,157,000 after purchasing an additional 348,070 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

UE has been the topic of a number of analyst reports. BTIG Research initiated coverage on Urban Edge Properties in a research note on Monday. They issued a "buy" rating and a $23.00 price target on the stock. Wall Street Zen raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd.

Urban Edge Properties Trading Up 0.6%

Urban Edge Properties stock traded up $0.13 during mid-day trading on Tuesday, hitting $19.57. 946,924 shares of the company's stock were exchanged, compared to its average volume of 981,288. The firm has a market capitalization of $2.46 billion, a P/E ratio of 23.29 and a beta of 1.24. Urban Edge Properties has a fifty-two week low of $15.66 and a fifty-two week high of $23.85. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09. The company's 50 day simple moving average is $19.04 and its 200-day simple moving average is $19.00.

Urban Edge Properties (NYSE:UE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%. The firm had revenue of $113.91 million for the quarter, compared to the consensus estimate of $115.99 million. On average, equities analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.9%. Urban Edge Properties's dividend payout ratio (DPR) is currently 90.48%.

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.