Jennison Associates LLC Takes Position in Urban Edge Properties (NYSE:UE)

Jennison Associates LLC purchased a new stake in Urban Edge Properties (NYSE:UE - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,010,628 shares of the real estate investment trust's stock, valued at approximately $18,494,000. Jennison Associates LLC owned about 0.86% of Urban Edge Properties as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. SG Americas Securities LLC raised its position in shares of Urban Edge Properties by 378.5% in the third quarter. SG Americas Securities LLC now owns 75,756 shares of the real estate investment trust's stock worth $1,156,000 after acquiring an additional 59,923 shares during the period. Bank of New York Mellon Corp raised its position in shares of Urban Edge Properties by 13.8% in the third quarter. Bank of New York Mellon Corp now owns 2,136,744 shares of the real estate investment trust's stock worth $32,607,000 after acquiring an additional 259,002 shares during the period. Bailard Inc. raised its position in shares of Urban Edge Properties by 130.6% in the third quarter. Bailard Inc. now owns 33,900 shares of the real estate investment trust's stock worth $517,000 after acquiring an additional 19,200 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Urban Edge Properties by 9.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 48,432 shares of the real estate investment trust's stock worth $739,000 after acquiring an additional 4,133 shares during the period. Finally, Brighton Jones LLC raised its position in shares of Urban Edge Properties by 10.3% in the third quarter. Brighton Jones LLC now owns 25,048 shares of the real estate investment trust's stock worth $382,000 after acquiring an additional 2,344 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, General Counsel Robert C. Milton III sold 26,333 shares of the company's stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $17.02, for a total transaction of $448,187.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.10% of the company's stock.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock traded down $0.06 during trading hours on Friday, reaching $16.52. The stock had a trading volume of 426,893 shares, compared to its average volume of 889,699. The stock's 50 day moving average is $16.77 and its 200 day moving average is $16.93. The firm has a market capitalization of $1.96 billion, a PE ratio of 7.80 and a beta of 1.49. Urban Edge Properties has a twelve month low of $13.13 and a twelve month high of $18.79. 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 (NYSE:UE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $1.88 earnings per share for the quarter, topping analysts' consensus estimates of $0.31 by $1.57. The business had revenue of $106.25 million during the quarter. Urban Edge Properties had a net margin of 59.60% and a return on equity of 23.62%. Equities analysts expect that Urban Edge Properties will post 1.27 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Urban Edge Properties's previous quarterly dividend of $0.16. Urban Edge Properties's dividend payout ratio is 32.08%.

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.