Bank of New York Mellon Corp Boosts Stake in Urban Edge Properties (NYSE:UE)

Bank of New York Mellon Corp boosted its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 6.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,699,134 shares of the real estate investment trust's stock after buying an additional 105,436 shares during the period. Bank of New York Mellon Corp owned approximately 1.36% of Urban Edge Properties worth $36,531,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in UE. Wellington Management Group LLP lifted its stake in Urban Edge Properties by 1,499.6% during the third quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust's stock worth $34,216,000 after purchasing an additional 1,499,628 shares during the last quarter. FMR LLC lifted its stake in Urban Edge Properties by 8.6% during the third quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust's stock worth $297,568,000 after purchasing an additional 1,096,560 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Urban Edge Properties by 438.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 782,921 shares of the real estate investment trust's stock worth $16,747,000 after purchasing an additional 637,587 shares during the last quarter. Jennison Associates LLC lifted its stake in Urban Edge Properties by 7.8% during the third quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust's stock worth $63,443,000 after purchasing an additional 215,879 shares during the last quarter. Finally, State Street Corp lifted its stake in Urban Edge Properties by 2.6% during the third quarter. State Street Corp now owns 6,990,363 shares of the real estate investment trust's stock worth $149,524,000 after purchasing an additional 177,745 shares during the last quarter. Institutional investors own 94.94% of the company's stock.

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Insider Activity

In related news, CEO Jeffrey S. Olson sold 240,000 shares of the business's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the transaction, the chief executive officer now owns 1,931 shares in the company, valued at $43,350.95. The trade was a 99.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on UE shares. Evercore ISI dropped their price target on Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Tuesday, December 24th. StockNews.com raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Tuesday, February 25th.

Urban Edge Properties Trading Down 0.8 %

Shares of NYSE UE traded down $0.17 during midday trading on Friday, reaching $19.89. The company had a trading volume of 1,335,906 shares, compared to its average volume of 814,102. Urban Edge Properties has a one year low of $15.81 and a one year high of $23.85. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15. The firm's fifty day moving average price is $20.47 and its 200-day moving average price is $21.38. The stock has a market cap of $2.49 billion, a PE ratio of 33.70 and a beta of 1.54.

Urban Edge Properties (NYSE:UE - Get Free Report) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates 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, equities research analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.82%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Urban Edge Properties's previous quarterly dividend of $0.17. Urban Edge Properties's payout ratio is 128.81%.

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.