Principal Financial Group Inc. Boosts Stock Position in Urban Edge Properties (NYSE:UE)

Principal Financial Group Inc. raised its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 3.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 718,055 shares of the real estate investment trust's stock after buying an additional 20,835 shares during the quarter. Principal Financial Group Inc. owned about 0.57% of Urban Edge Properties worth $13,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in UE. Proficio Capital Partners LLC bought a new stake in Urban Edge Properties in the 4th quarter worth about $486,000. Arizona State Retirement System lifted its position in shares of Urban Edge Properties by 2.9% during the 4th quarter. Arizona State Retirement System now owns 35,213 shares of the real estate investment trust's stock valued at $757,000 after buying an additional 1,000 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Urban Edge Properties in the 4th quarter worth approximately $1,022,000. Amundi lifted its holdings in Urban Edge Properties by 44.2% in the 4th quarter. Amundi now owns 130,430 shares of the real estate investment trust's stock worth $2,652,000 after purchasing an additional 39,948 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Urban Edge Properties by 66.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,483 shares of the real estate investment trust's stock worth $1,838,000 after purchasing an additional 34,017 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

Urban Edge Properties Price Performance

Shares of UE traded up $0.47 during mid-day trading on Wednesday, hitting $19.21. 927,148 shares of the stock were exchanged, compared to its average volume of 904,477. The company has a market cap of $2.42 billion, a PE ratio of 30.02 and a beta of 1.18. Urban Edge Properties has a 52-week low of $15.66 and a 52-week high of $23.85. The firm has a 50-day moving average of $18.55 and a two-hundred day moving average of $19.13. 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 released its earnings results on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $118.17 million for the quarter, compared to the consensus estimate of $119.05 million. Urban Edge Properties had a return on equity of 5.88% and a net margin of 17.23%. On average, equities analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other news, General Counsel Robert C. Milton sold 26,000 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total value of $488,280.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.