Massachusetts Financial Services Co. MA raised its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 7.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,382,396 shares of the real estate investment trust's stock after purchasing an additional 99,427 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.10% of Urban Edge Properties worth $26,266,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the company. GF Fund Management CO. LTD. bought a new position in shares of Urban Edge Properties in the fourth quarter worth approximately $47,000. Quarry LP bought a new stake in Urban Edge Properties in the 4th quarter worth about $49,000. Sterling Capital Management LLC boosted its position in Urban Edge Properties by 858.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust's stock worth $85,000 after purchasing an additional 3,555 shares during the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Urban Edge Properties during the 4th quarter valued at about $206,000. Finally, Yoffe Investment Management LLC purchased a new position in shares of Urban Edge Properties during the 4th quarter valued at about $224,000. 94.94% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Urban Edge Properties
In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the company's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total transaction of $488,280.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.40% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
Separately, Wall Street Zen downgraded Urban Edge Properties from a "hold" rating to a "sell" rating in a research note on Friday.
Check Out Our Latest Stock Report on Urban Edge Properties
Urban Edge Properties Trading Up 2.1%
Urban Edge Properties stock traded up $0.42 during trading on Tuesday, reaching $19.80. 958,052 shares of the company were exchanged, compared to its average volume of 904,235. The stock's 50 day simple moving average is $18.60 and its two-hundred day simple moving average is $19.07. The company has a debt-to-equity ratio of 1.16, a current ratio of 2.29 and a quick ratio of 2.29. The company has a market capitalization of $2.49 billion, a P/E ratio of 30.93 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.
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, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $118.17 million during the quarter, compared to analysts' expectations 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 research analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.
Urban Edge Properties Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date was Friday, June 13th. Urban Edge Properties's dividend payout ratio is presently 118.75%.
Urban Edge Properties Company Profile
(
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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