Resona Asset Management Co. Ltd. Acquires Shares of 49,557 Urban Edge Properties (NYSE:UE)

Resona Asset Management Co. Ltd. bought a new stake in shares of Urban Edge Properties (NYSE:UE - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 49,557 shares of the real estate investment trust's stock, valued at approximately $1,060,000.

Several other large investors have also recently bought and sold shares of the business. Daiwa Securities Group Inc. increased its position in Urban Edge Properties by 1.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 41,057 shares of the real estate investment trust's stock worth $883,000 after buying an additional 659 shares during the last quarter. Amalgamated Bank grew its position in Urban Edge Properties by 2.0% during the fourth quarter. Amalgamated Bank now owns 36,272 shares of the real estate investment trust's stock worth $780,000 after buying an additional 724 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Urban Edge Properties by 2.8% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,384 shares of the real estate investment trust's stock valued at $632,000 after purchasing an additional 800 shares during the period. Arizona State Retirement System increased its holdings in Urban Edge Properties by 2.9% in the 4th quarter. Arizona State Retirement System now owns 35,213 shares of the real estate investment trust's stock valued at $757,000 after buying an additional 1,000 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in Urban Edge Properties by 76.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,029 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Trading Up 1.5 %

Shares of Urban Edge Properties stock traded up $0.27 on Wednesday, hitting $17.90. 121,882 shares of the company's stock traded hands, compared to its average volume of 961,199. The firm's 50-day moving average price is $19.19 and its two-hundred day moving average price is $20.83. The stock has a market capitalization of $2.25 billion, a PE ratio of 30.35 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92. Urban Edge Properties has a one year low of $15.66 and a one year high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. On average, research analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from Urban Edge Properties's previous quarterly dividend of $0.17. Urban Edge Properties's dividend payout ratio is currently 128.81%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on UE shares. StockNews.com raised Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Thursday, March 20th. Evercore ISI cut their price target on shares of Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating for the company in a report on Tuesday, December 24th.

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.