OVERSEA CHINESE BANKING Corp Ltd Makes New Investment in Urban Edge Properties (NYSE:UE)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Urban Edge Properties (NYSE:UE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 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.

Other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Urban Edge Properties by 9.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 35,300 shares of the real estate investment trust's stock valued at $671,000 after buying an additional 3,031 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Urban Edge Properties by 307.6% during the 4th 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 buying an additional 75,538 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Urban Edge Properties by 1,773.9% during the 1st quarter. GAMMA Investing LLC now owns 58,729 shares of the real estate investment trust's stock valued at $1,116,000 after buying an additional 55,595 shares during the last quarter. Swiss National Bank lifted its position in shares of Urban Edge Properties by 2.9% during the 4th quarter. Swiss National Bank now owns 238,609 shares of the real estate investment trust's stock valued at $5,130,000 after buying an additional 6,700 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Urban Edge Properties during the 4th quarter valued at $1,022,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen cut Urban Edge Properties from a "hold" rating to a "sell" rating in a research report on Monday, May 5th.

Urban Edge Properties Price Performance

UE traded down $0.08 during trading on Friday, reaching $19.18. 386,076 shares of the company were exchanged, compared to its average volume of 901,388. The company's 50-day moving average is $18.59 and its two-hundred day moving average is $19.12. The company has a market cap of $2.41 billion, a price-to-earnings ratio of 29.98 and a beta of 1.18. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 1.16. Urban Edge Properties has a 12-month low of $15.66 and a 12-month high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. The business had revenue of $118.17 million for the quarter, compared to analysts' expectations of $119.05 million. Urban Edge Properties had a return on equity of 5.88% and a net margin of 17.23%. Research analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 3.96%. Urban Edge Properties's dividend payout ratio (DPR) is 118.75%.

Insider Transactions at Urban Edge Properties

In related news, General Counsel Robert C. Milton sold 26,000 shares of the stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total transaction of $488,280.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.40% of the company's stock.

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.