ProShare Advisors LLC purchased a new stake in shares of Urban Edge Properties (NYSE:UE - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 37,936 shares of the real estate investment trust's stock, valued at approximately $816,000.
Other hedge funds have also recently made changes to their positions in the company. Quarry LP acquired a new stake in shares of Urban Edge Properties during the fourth quarter valued at about $49,000. Smartleaf Asset Management LLC raised its position in shares of Urban Edge Properties by 76.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,029 shares during the last quarter. Sterling Capital Management LLC raised its position in shares of Urban Edge Properties by 858.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust's stock worth $85,000 after acquiring an additional 3,555 shares during the last quarter. KBC Group NV raised its position in shares of Urban Edge Properties by 42.1% during the fourth quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust's stock worth $111,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of Urban Edge Properties during the fourth quarter worth about $206,000. 94.94% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen downgraded Urban Edge Properties from a "hold" rating to a "sell" rating in a research report on Monday, May 5th.
Check Out Our Latest Stock Analysis on UE
Urban Edge Properties Trading Up 2.7%
Shares of UE traded up $0.48 during mid-day trading on Tuesday, reaching $18.12. 1,248,416 shares of the company were exchanged, compared to its average volume of 919,999. Urban Edge Properties has a 52 week low of $15.66 and a 52 week high of $23.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market capitalization of $2.28 billion, a PE ratio of 30.72 and a beta of 1.16. The business has a 50 day simple moving average of $18.20 and a two-hundred day simple moving average of $20.10.
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. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. The company had revenue of $118.17 million during the quarter, compared to the consensus estimate of $119.05 million. On average, analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.
Urban Edge Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be issued a $0.19 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 4.19%. Urban Edge Properties's payout ratio is currently 118.75%.
Insiders Place Their Bets
In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of Urban Edge Properties stock in a transaction that occurred on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
About Urban Edge Properties
(
Free Report)
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.
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