Urban Edge Properties (NYSE:UE) Shares Purchased by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. increased its stake in Urban Edge Properties by 35.4%, holding approximately 3.14% of the company worth $74.96 million after acquiring over 1 million shares.
• Urban Edge Properties recently announced a quarterly dividend of $0.19 per share, with an annualized yield of 3.8%, and a dividend payout ratio of 90.48%.
• Wall Street Zen upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in their latest research note.

Westwood Holdings Group Inc. raised its stake in Urban Edge Properties (NYSE:UE - Free Report) by 35.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,945,310 shares of the real estate investment trust's stock after acquiring an additional 1,031,587 shares during the period. Westwood Holdings Group Inc. owned 3.14% of Urban Edge Properties worth $74,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. New Age Alpha Advisors LLC purchased a new position in shares of Urban Edge Properties during the first quarter worth approximately $411,000. OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in Urban Edge Properties during the 1st quarter worth $1,906,000. Vestcor Inc grew its position in Urban Edge Properties by 8.0% during the 1st quarter. Vestcor Inc now owns 119,459 shares of the real estate investment trust's stock worth $2,270,000 after purchasing an additional 8,897 shares during the last quarter. XTX Topco Ltd purchased a new position in Urban Edge Properties during the 1st quarter worth $316,000. Finally, Carrera Capital Advisors increased its stake in Urban Edge Properties by 18.1% in the first quarter. Carrera Capital Advisors now owns 95,939 shares of the real estate investment trust's stock valued at $1,823,000 after purchasing an additional 14,681 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

Urban Edge Properties Stock Performance

Shares of UE stock traded down $0.30 during midday trading on Friday, hitting $19.32. The company had a trading volume of 729,300 shares, compared to its average volume of 1,243,334. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 22.99 and a beta of 1.24. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.39 and a quick ratio of 2.39. The company's 50 day simple moving average is $19.02 and its 200 day simple moving average is $19.02. 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 posted its quarterly earnings data 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. The firm had revenue of $113.91 million for the quarter, compared to analyst estimates of $115.99 million. Urban Edge Properties had a net margin of 22.86% and a return on equity of 7.74%. Research analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 of this dividend is Monday, September 15th. Urban Edge Properties's dividend payout ratio is currently 90.48%.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the business'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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Saturday, August 2nd.

Urban Edge Properties Company 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.