Massachusetts Financial Services Co. MA Purchases 99,427 Shares of Urban Edge Properties (NYSE:UE)

Massachusetts Financial Services Co. MA grew its stake in shares of Urban Edge Properties (NYSE:UE - Free Report) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,382,396 shares of the real estate investment trust's stock after buying an additional 99,427 shares during the period. Massachusetts Financial Services Co. MA owned 1.10% of Urban Edge Properties worth $26,266,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in UE. Arizona State Retirement System grew its position in Urban Edge Properties by 1.7% in the 1st quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust's stock valued at $681,000 after acquiring an additional 605 shares during the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Urban Edge Properties by 6.6% in the first quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock worth $231,000 after purchasing an additional 758 shares during the last quarter. Summit Investment Advisors Inc. raised its stake in shares of Urban Edge Properties by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,176 shares of the real estate investment trust's stock worth $283,000 after purchasing an additional 778 shares during the last quarter. Bank of Montreal Can raised its stake in shares of Urban Edge Properties by 6.4% in the fourth quarter. Bank of Montreal Can now owns 17,911 shares of the real estate investment trust's stock worth $385,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Maryland State Retirement & Pension System raised its position in Urban Edge Properties by 2.6% during the fourth quarter. Maryland State Retirement & Pension System now owns 42,052 shares of the real estate investment trust's stock valued at $904,000 after acquiring an additional 1,079 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Urban Edge Properties Stock Performance

NYSE:UE traded up $0.02 during mid-day trading on Friday, reaching $19.27. 948,400 shares of the stock were exchanged, compared to its average volume of 904,867. The stock has a market capitalization of $2.42 billion, a P/E ratio of 30.11 and a beta of 1.18. The company has a 50 day simple moving average of $18.60 and a 200-day simple moving average of $19.09. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 1.16. Urban Edge Properties has a 1 year low of $15.66 and a 1 year high of $23.85.

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 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Urban Edge Properties had a return on equity of 5.88% and a net margin of 17.23%. The firm had revenue of $118.17 million during the quarter, compared to analyst estimates of $119.05 million. Analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.76 dividend on an annualized basis and a yield of 3.94%. Urban Edge Properties's payout ratio is presently 118.75%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Urban Edge Properties from a "hold" rating to a "sell" rating in a research note on Friday.

Insider Buying and Selling

In related news, General Counsel Robert C. Milton sold 26,000 shares of Urban Edge Properties stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total transaction of $488,280.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.