Vanguard Group Inc. reduced its stake in shares of Urban Edge Properties (NYSE:UE - Free Report) by 0.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,399,457 shares of the real estate investment trust's stock after selling 97,382 shares during the quarter. Vanguard Group Inc. owned about 15.64% of Urban Edge Properties worth $280,776,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Ameritas Investment Partners Inc. raised its position in Urban Edge Properties by 6.9% in the second quarter. Ameritas Investment Partners Inc. now owns 9,495 shares of the real estate investment trust's stock worth $147,000 after acquiring an additional 617 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Urban Edge Properties by 2.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 24,660 shares of the real estate investment trust's stock worth $376,000 after acquiring an additional 700 shares in the last quarter. Oppenheimer Asset Management Inc. raised its position in Urban Edge Properties by 7.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 11,672 shares of the real estate investment trust's stock worth $178,000 after acquiring an additional 841 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Urban Edge Properties by 15.9% in the second quarter. PNC Financial Services Group Inc. now owns 6,855 shares of the real estate investment trust's stock worth $106,000 after acquiring an additional 941 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its position in Urban Edge Properties by 63.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,484 shares of the real estate investment trust's stock worth $38,000 after acquiring an additional 960 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In related news, General Counsel Robert C. Milton III sold 26,333 shares of the stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $17.02, for a total value of $448,187.66. The transaction was disclosed in a filing with the SEC, which is available at this link. 3.10% of the stock is currently owned by corporate insiders.
Urban Edge Properties Trading Up 1.3 %
UE stock traded up $0.23 during mid-day trading on Friday, reaching $17.27. 917,305 shares of the stock traded hands, compared to its average volume of 795,714. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.29. Urban Edge Properties has a 52-week low of $13.13 and a 52-week high of $18.79. The company has a market cap of $2.05 billion, a P/E ratio of 8.15 and a beta of 1.49. The stock's fifty day moving average is $17.16 and its 200-day moving average is $16.84.
Urban Edge Properties (NYSE:UE - Get Free Report) last issued its earnings results on Wednesday, February 14th. The real estate investment trust reported $1.88 earnings per share for the quarter, beating analysts' consensus estimates of $0.31 by $1.57. The company had revenue of $106.25 million for the quarter. Urban Edge Properties had a return on equity of 23.62% and a net margin of 59.60%. As a group, sell-side analysts expect that Urban Edge Properties will post 1.27 earnings per share for the current year.
Urban Edge Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.17 dividend. The ex-dividend date is Thursday, March 14th. This represents a $0.68 dividend on an annualized basis and a yield of 3.94%. This is an increase from Urban Edge Properties's previous quarterly dividend of $0.16. Urban Edge Properties's dividend payout ratio is currently 32.08%.
Analyst Upgrades and Downgrades
A number of analysts have commented on the stock. Morgan Stanley raised shares of Urban Edge Properties from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $14.00 to $18.00 in a research note on Thursday, December 21st. StockNews.com raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Saturday, December 9th.
Read Our Latest Stock Analysis on Urban Edge Properties
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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