Sei Investments Co. Has $6.28 Million Position in Urban Edge Properties $UE

Key Points

• Sei Investments increased its Urban Edge Properties stake by 55.1% in the first quarter, bringing its holdings to 314,301 shares valued at approximately $6.28 million. Institutional investors collectively own 94.94% of UE.
• Analyst sentiment remains mixed, with two Buy ratings and four Hold ratings; the stock has a consensus rating of Hold and an average price target of $23.20.
• Urban Edge shares opened at $22.60, while the REIT maintains a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 payout and a 3.7% yield.

Sei Investments Co. grew its position in shares of Urban Edge Properties (NYSE:UE - Free Report) by 55.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 314,301 shares of the real estate investment trust's stock after purchasing an additional 111,641 shares during the quarter. Sei Investments Co. owned approximately 0.25% of Urban Edge Properties worth $6,280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in UE. EverSource Wealth Advisors LLC raised its holdings in Urban Edge Properties by 426.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust's stock valued at $25,000 after buying an additional 1,071 shares during the last quarter. Global Retirement Partners LLC grew its holdings in Urban Edge Properties by 2,108.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust's stock worth $26,000 after acquiring an additional 1,307 shares during the last quarter. CIBC Private Wealth Group LLC bought a new stake in Urban Edge Properties during the 3rd quarter worth approximately $52,000. State of Wyoming acquired a new position in Urban Edge Properties in the 1st quarter valued at approximately $66,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Urban Edge Properties by 33.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust's stock valued at $71,000 after acquiring an additional 922 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Jeffrey S. Olson sold 19,034 shares of Urban Edge Properties stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $21.62, for a total value of $411,515.08. Following the completion of the transaction, the chief executive officer directly owned 3,665 shares of the company's stock, valued at approximately $79,237.30. This trade represents a 83.85% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.70% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on UE. BTIG Research reiterated a "buy" rating and set a $25.00 price target on shares of Urban Edge Properties in a report on Friday, June 12th. UBS Group raised their target price on Urban Edge Properties from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Urban Edge Properties in a report on Friday, July 24th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $23.20.

Urban Edge Properties Trading Down 0.3%

UE opened at $22.60 on Tuesday. Urban Edge Properties has a twelve month low of $18.46 and a twelve month high of $24.11. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average of $22.92 and a 200-day moving average of $21.51. The stock has a market cap of $2.85 billion, a PE ratio of 26.28 and a beta of 0.98.

Urban Edge Properties Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, June 15th. Urban Edge Properties's dividend payout ratio (DPR) is presently 97.67%.

Urban Edge Properties Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.

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