Vanguard Group Inc. Increases Holdings in Urban Edge Properties (NYSE:UE)

Key Points

• Vanguard Group Inc. increased its holdings in Urban Edge Properties by 1.7%, now owning over 20.2 million shares, representing 16.14% of the company worth approximately $385.7 million.
• A number of other institutional investors have also altered their positions, with 94.94% of the stock currently held by hedge funds and institutional investors.
• Urban Edge Properties recently announced a quarterly dividend of $0.19 per share, translating to an annualized yield of 3.9%.

Vanguard Group Inc. boosted its stake in shares of Urban Edge Properties (NYSE:UE - Free Report) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,299,913 shares of the real estate investment trust's stock after acquiring an additional 337,717 shares during the quarter. Vanguard Group Inc. owned 16.14% of Urban Edge Properties worth $385,698,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. GF Fund Management CO. LTD. acquired a new position in Urban Edge Properties during the fourth quarter worth $47,000. Quarry LP acquired a new position in shares of Urban Edge Properties during the 4th quarter worth about $49,000. Sterling Capital Management LLC boosted its position in shares of 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 worth $85,000 after acquiring an additional 3,555 shares in the last quarter. Cary Street Partners Financial LLC acquired a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $206,000. Finally, Yoffe Investment Management LLC acquired a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $224,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

UE has been the subject of a number of recent research reports. Wall Street Zen raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. BTIG Research began coverage on Urban Edge Properties in a research note on Monday, August 11th. They issued a "buy" rating and a $23.00 price objective for the company.

Urban Edge Properties Price Performance

UE stock opened at $19.50 on Friday. Urban Edge Properties has a 52-week low of $15.66 and a 52-week high of $23.85. The stock's fifty day simple moving average is $19.13 and its 200-day simple moving average is $18.98. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09. The stock has a market capitalization 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 issued its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.02. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%. The firm had revenue of $113.91 million for the quarter, compared to analysts' expectations of $115.99 million. Equities research analysts expect that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties's payout ratio is presently 90.48%.

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.

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