Franklin Resources Inc. Acquires 73,472 Shares of Urban Edge Properties (NYSE:UE)

Franklin Resources Inc. increased its holdings in Urban Edge Properties (NYSE:UE - Free Report) by 64.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 186,704 shares of the real estate investment trust's stock after acquiring an additional 73,472 shares during the quarter. Franklin Resources Inc. owned about 0.15% of Urban Edge Properties worth $4,014,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently bought and sold shares of UE. Alliancebernstein L.P. lifted its holdings in shares of Urban Edge Properties by 71.1% during the fourth quarter. Alliancebernstein L.P. now owns 292,775 shares of the real estate investment trust's stock valued at $6,295,000 after purchasing an additional 121,668 shares during the last quarter. Pictet Asset Management Holding SA increased its position in Urban Edge Properties by 9.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 39,420 shares of the real estate investment trust's stock valued at $848,000 after buying an additional 3,521 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in Urban Edge Properties by 7.5% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 164,140 shares of the real estate investment trust's stock valued at $3,529,000 after buying an additional 11,440 shares during the last quarter. Norges Bank bought a new stake in Urban Edge Properties in the fourth quarter worth $6,697,000. Finally, UniSuper Management Pty Ltd grew its stake in shares of Urban Edge Properties by 3.3% in the fourth quarter. UniSuper Management Pty Ltd now owns 34,800 shares of the real estate investment trust's stock worth $748,000 after acquiring an additional 1,100 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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Urban Edge Properties Stock Up 1.5 %

UE traded up $0.25 during trading on Tuesday, hitting $17.62. 1,271,506 shares of the company's stock traded hands, compared to its average volume of 912,080. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 29.87 and a beta of 1.28. The company's 50 day simple moving average is $19.25 and its two-hundred day simple moving average is $20.85. Urban Edge Properties has a 12-month low of $13.34 and a 12-month high of $23.85. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.15.

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 EPS 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%. Analysts predict that Urban Edge Properties will post 1.4 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 Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.19 dividend. The ex-dividend date was Friday, March 14th. This is a positive change from Urban Edge Properties's previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.31%. Urban Edge Properties's payout ratio is currently 128.81%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on UE. Evercore ISI lowered 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 report on Tuesday, December 24th. StockNews.com raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.

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.