Urban Edge Properties (NYSE:UE) Position Raised by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd raised its stake in Urban Edge Properties by 112.4%, increasing its holdings to 43,665 shares valued at approximately $830,000 as of the recent reporting period.
• A significant portion of Urban Edge Properties' stock, 94.94%, is owned by hedge funds and institutional investors, with several funds acquiring new stakes in the company recently.
• Wall Street analysts downgraded Urban Edge Properties from a "hold" rating to a "sell" rating, indicating a shift in market sentiment regarding the stock's performance.

Y Intercept Hong Kong Ltd lifted its stake in shares of Urban Edge Properties (NYSE:UE - Free Report) by 112.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 43,665 shares of the real estate investment trust's stock after purchasing an additional 23,103 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Urban Edge Properties were worth $830,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Arizona State Retirement System grew its stake 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. boosted its stake in shares of Urban Edge Properties by 6.6% during the 1st 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. boosted its stake in shares of Urban Edge Properties by 6.3% during the 4th 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 boosted its stake in shares of Urban Edge Properties by 6.4% during the 4th 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, UniSuper Management Pty Ltd boosted its stake in shares of Urban Edge Properties by 3.3% during the 4th quarter. UniSuper Management Pty Ltd now owns 34,800 shares of the real estate investment trust's stock worth $748,000 after purchasing an additional 1,100 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Trading Up 1.9%

NYSE UE traded up $0.38 during mid-day trading on Tuesday, hitting $19.90. The company's stock had a trading volume of 252,535 shares, compared to its average volume of 941,114. 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 $18.71 and its two-hundred day simple moving average is $19.04. 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 firm has a market capitalization of $2.50 billion, a P/E ratio of 31.09 and a beta of 1.18.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Urban Edge Properties had a net margin of 17.23% and a return on equity of 5.88%. The company had revenue of $118.17 million for the quarter, compared to analyst estimates of $119.05 million. Research analysts expect that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend was Friday, June 13th. Urban Edge Properties's dividend payout ratio is presently 118.75%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of Urban Edge Properties from a "hold" rating to a "sell" rating in a research note on Friday, July 18th.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the firm's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $18.78, for a total value of $488,280.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.40% of the company's stock.

About Urban Edge Properties

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.