KLP Kapitalforvaltning AS acquired a new position in Urban Edge Properties (NYSE:UE - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 24,600 shares of the real estate investment trust's stock, valued at approximately $529,000.
Several other institutional investors have also recently made changes to their positions in UE. JPMorgan Chase & Co. lifted its holdings in Urban Edge Properties by 30.5% in the third quarter. JPMorgan Chase & Co. now owns 671,934 shares of the real estate investment trust's stock valued at $14,373,000 after acquiring an additional 156,874 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of Urban Edge Properties during the 3rd quarter valued at approximately $269,000. Geode Capital Management LLC lifted its stake in shares of Urban Edge Properties by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,109,608 shares of the real estate investment trust's stock valued at $66,525,000 after purchasing an additional 130,854 shares during the period. Principal Financial Group Inc. boosted its holdings in Urban Edge Properties by 11.0% during the third quarter. Principal Financial Group Inc. now owns 650,407 shares of the real estate investment trust's stock worth $13,912,000 after buying an additional 64,221 shares in the last quarter. Finally, KBC Group NV grew its position in Urban Edge Properties by 42.1% during the fourth quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust's stock valued at $111,000 after buying an additional 1,524 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on the stock. Evercore ISI decreased their price objective on shares of 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 Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.
Get Our Latest Research Report on UE
Urban Edge Properties Price Performance
Shares of NYSE:UE traded down $0.64 during midday trading on Tuesday, reaching $16.28. 1,597,959 shares of the company's stock traded hands, compared to its average volume of 892,379. The company has a fifty day simple moving average of $19.54 and a two-hundred day simple moving average of $20.99. Urban Edge Properties has a 1 year low of $15.81 and a 1 year high of $23.85. The company has a market cap of $2.05 billion, a P/E ratio of 27.59 and a beta of 1.28. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.92 and a current ratio of 1.92.
Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a net margin of 16.31% and a return on equity of 5.59%. Equities analysts predict that Urban Edge Properties will post 1.4 EPS for the current fiscal year.
Urban Edge Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 4.67%. This is a boost from Urban Edge Properties's previous quarterly dividend of $0.17. The ex-dividend date was Friday, March 14th. Urban Edge Properties's payout ratio is presently 128.81%.
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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