Public Sector Pension Investment Board Acquires 86,751 Shares of Urban Edge Properties (NYSE:UE)

Key Points

• The Public Sector Pension Investment Board increased its stake in Urban Edge Properties by 27.9%, acquiring an additional 86,751 shares, bringing its total ownership to approximately $7,559,000.
• Urban Edge Properties recently reported a quarterly EPS of $0.36, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.19 per share, reflecting a 3.9% yield.
• Various hedge funds have recently adjusted their positions in Urban Edge Properties, with institutional investors now owning nearly 94.94% of the company's stock.

Public Sector Pension Investment Board grew its holdings in Urban Edge Properties (NYSE:UE - Free Report) by 27.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 397,844 shares of the real estate investment trust's stock after acquiring an additional 86,751 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Urban Edge Properties worth $7,559,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. bought a new stake in shares of Urban Edge Properties during the 4th quarter valued at about $47,000. Quarry LP acquired a new position in Urban Edge Properties during the 4th quarter valued at about $49,000. Sterling Capital Management LLC boosted its stake in Urban Edge Properties by 858.7% during the 4th quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust's stock valued at $85,000 after purchasing an additional 3,555 shares during the period. Wolverine Asset Management LLC acquired a new position in Urban Edge Properties during the 1st quarter valued at about $118,000. Finally, Cary Street Partners Financial LLC bought a new stake in shares of Urban Edge Properties in the 4th quarter worth approximately $206,000. Hedge funds and other institutional investors own 94.94% of the company's stock.

Urban Edge Properties Stock Performance

Urban Edge Properties stock traded up $0.12 during mid-day trading on Friday, reaching $19.50. The company had a trading volume of 1,561,096 shares, compared to its average volume of 1,276,101. 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 has a 52 week low of $15.66 and a 52 week high of $23.85. The company has a 50 day moving average of $19.13 and a 200-day moving average of $18.98. The firm has a market cap of $2.45 billion, a price-to-earnings ratio of 23.21 and a beta of 1.24.

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

Urban Edge Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 3.9%. The ex-dividend date is Monday, September 15th. Urban Edge Properties's dividend payout ratio (DPR) is 90.48%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of Urban Edge Properties in a report on Monday, August 11th. They set a "buy" rating and a $23.00 price target on the stock. Wall Street Zen upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Saturday, August 2nd.

About Urban Edge Properties

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.