Massachusetts Financial Services Co. MA Takes Position in Urban Edge Properties (NYSE:UE)

Massachusetts Financial Services Co. MA purchased a new position in shares of Urban Edge Properties (NYSE:UE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,282,969 shares of the real estate investment trust's stock, valued at approximately $27,584,000. Massachusetts Financial Services Co. MA owned 1.03% of Urban Edge Properties as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in shares of Urban Edge Properties by 14.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 32,781 shares of the real estate investment trust's stock worth $701,000 after acquiring an additional 4,019 shares during the period. Verition Fund Management LLC raised its stake in Urban Edge Properties by 13.7% during the third quarter. Verition Fund Management LLC now owns 14,371 shares of the real estate investment trust's stock worth $307,000 after purchasing an additional 1,735 shares during the period. Quantinno Capital Management LP boosted its holdings in shares of Urban Edge Properties by 16.3% in the 3rd quarter. Quantinno Capital Management LP now owns 22,415 shares of the real estate investment trust's stock valued at $479,000 after purchasing an additional 3,140 shares during the last quarter. State Street Corp boosted its holdings in shares of Urban Edge Properties by 2.6% in the 3rd quarter. State Street Corp now owns 6,990,363 shares of the real estate investment trust's stock valued at $149,524,000 after purchasing an additional 177,745 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Urban Edge Properties by 1,499.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust's stock valued at $34,216,000 after buying an additional 1,499,628 shares during the period. Hedge funds and other institutional investors own 94.94% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages recently weighed in on UE. Evercore ISI cut their target price on Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, December 24th. StockNews.com upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Thursday, March 20th.

Urban Edge Properties Trading Down 0.1 %

UE stock traded down $0.02 during midday trading on Friday, reaching $16.94. 2,065,687 shares of the company's stock traded hands, compared to its average volume of 903,953. 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 fifty-two week low of $15.66 and a fifty-two week high of $23.85. The business has a 50-day moving average price of $19.31 and a two-hundred day moving average price of $20.88. The company has a market capitalization of $2.13 billion, a P/E ratio of 28.71 and a beta of 1.28.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts' consensus estimates 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 research analysts forecast 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. Shareholders of record on Friday, March 14th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.49%. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Urban Edge Properties's previous quarterly dividend of $0.17. Urban Edge Properties's payout ratio is currently 128.81%.

Urban Edge Properties 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.