Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Urban Edge Properties (NYSE:UE - Free Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,417 shares of the real estate investment trust's stock, valued at approximately $565,000.
Several other institutional investors also recently bought and sold shares of UE. Point72 Hong Kong Ltd acquired a new position in shares of Urban Edge Properties during the second quarter worth $50,000. GAMMA Investing LLC lifted its position in shares of Urban Edge Properties by 25.9% during the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust's stock worth $59,000 after purchasing an additional 563 shares in the last quarter. Signaturefd LLC lifted its position in shares of Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 1,317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Urban Edge Properties by 36.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 1,221 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in shares of Urban Edge Properties during the third quarter worth $101,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently commented on UE shares. StockNews.com raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Friday, August 2nd. Evercore ISI boosted their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an "in-line" rating in a research report on Monday, September 16th.
Read Our Latest Stock Report on Urban Edge Properties
Urban Edge Properties Stock Down 1.3 %
UE traded down $0.30 during trading on Friday, hitting $23.01. The company had a trading volume of 587,024 shares, compared to its average volume of 888,319. The company has a market cap of $2.87 billion, a PE ratio of 10.32 and a beta of 1.54. The business has a 50-day moving average of $22.20 and a 200-day moving average of $20.21. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85.
Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $112.26 million for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. As a group, analysts forecast that Urban Edge Properties will post 1.32 earnings per share for the current year.
Urban Edge Properties Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. Urban Edge Properties's dividend payout ratio (DPR) is 30.49%.
Insiders Place Their Bets
In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now directly owns 35,816 shares of the company's stock, valued at approximately $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.
About Urban Edge Properties
(
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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