OVERSEA CHINESE BANKING Corp Ltd Buys New Stake in Urban Edge Properties (NYSE:UE)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Urban Edge Properties, purchasing 100,300 shares valued at approximately $1.9 million, representing about 0.08% ownership by the end of the reporting period.
• Other institutional investors, such as Vestcor Inc and Y Intercept Hong Kong Ltd, have also increased their positions in Urban Edge Properties, with institutional ownership now standing at 94.94%.
• Urban Edge Properties recently announced a $0.19 per share quarterly dividend, providing a 4.0% dividend yield, while the company's stock was noted to have a market cap of $2.40 billion.

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in Urban Edge Properties (NYSE:UE - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,300 shares of the real estate investment trust's stock, valued at approximately $1,906,000. OVERSEA CHINESE BANKING Corp Ltd owned about 0.08% of Urban Edge Properties at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in UE. Wealth Enhancement Advisory Services LLC boosted its position in Urban Edge Properties by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,300 shares of the real estate investment trust's stock worth $671,000 after purchasing an additional 3,031 shares during the period. D. E. Shaw & Co. Inc. boosted its position in shares of Urban Edge Properties by 307.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 100,095 shares of the real estate investment trust's stock valued at $2,152,000 after acquiring an additional 75,538 shares during the period. GAMMA Investing LLC boosted its position in shares of Urban Edge Properties by 1,773.9% in the first quarter. GAMMA Investing LLC now owns 58,729 shares of the real estate investment trust's stock valued at $1,116,000 after acquiring an additional 55,595 shares during the period. SG Americas Securities LLC bought a new position in shares of Urban Edge Properties in the first quarter valued at approximately $447,000. Finally, Handelsbanken Fonder AB boosted its position in shares of Urban Edge Properties by 19.7% in the first quarter. Handelsbanken Fonder AB now owns 47,490 shares of the real estate investment trust's stock valued at $902,000 after acquiring an additional 7,800 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the business'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 SEC, which can be accessed through this hyperlink. Insiders own 2.40% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Saturday.

Urban Edge Properties Trading Up 1.4%

Shares of Urban Edge Properties stock traded up $0.27 during trading on Wednesday, reaching $20.11. The company's stock had a trading volume of 88,955 shares, compared to its average volume of 976,334. 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 $2.53 billion, a price-to-earnings ratio of 23.96 and a beta of 1.24. The firm's 50-day moving average is $18.93 and its two-hundred day moving average is $19.03. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09.

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

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend was Friday, June 13th. Urban Edge Properties's payout ratio is presently 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.