100,300 Shares in Urban Edge Properties (NYSE:UE) Acquired by OVERSEA CHINESE BANKING Corp Ltd

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

Several other hedge funds have also recently modified their holdings of UE. GF Fund Management CO. LTD. acquired a new stake in Urban Edge Properties in the fourth quarter valued at $47,000. Quarry LP purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at $49,000. Sterling Capital Management LLC increased its position in shares of Urban Edge Properties by 858.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust's stock valued at $85,000 after buying an additional 3,555 shares in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at $206,000. Finally, Yoffe Investment Management LLC purchased a new position in shares of Urban Edge Properties in the fourth quarter valued at $224,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Price Performance

UE stock traded up $0.47 during trading on Wednesday, hitting $19.21. The stock had a trading volume of 927,148 shares, compared to its average volume of 903,830. The company's 50 day moving average price is $18.57 and its two-hundred day moving average price is $19.13. Urban Edge Properties has a 1-year low of $15.66 and a 1-year high of $23.85. The stock has a market cap of $2.42 billion, a price-to-earnings ratio of 30.02 and a beta of 1.18. 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 (NYSE:UE - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $118.17 million during 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%. On average, sell-side analysts forecast that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

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

Insider Activity

In other news, General Counsel Robert C. Milton sold 26,000 shares of the business's 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.40% of the company's stock.

Wall Street Analyst Weigh In

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 Company 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.