Norges Bank Acquires New Position in Urban Edge Properties (NYSE:UE)

Norges Bank acquired a new stake in Urban Edge Properties (NYSE:UE - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 311,492 shares of the real estate investment trust's stock, valued at approximately $6,697,000. Norges Bank owned 0.25% of Urban Edge Properties at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Daiwa Securities Group Inc. boosted its holdings in shares of Urban Edge Properties by 1.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 41,057 shares of the real estate investment trust's stock worth $883,000 after buying an additional 659 shares in the last quarter. Amalgamated Bank boosted its stake in Urban Edge Properties by 2.0% during the fourth quarter. Amalgamated Bank now owns 36,272 shares of the real estate investment trust's stock worth $780,000 after acquiring an additional 724 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Urban Edge Properties by 2.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 29,384 shares of the real estate investment trust's stock worth $632,000 after purchasing an additional 800 shares during the period. Arizona State Retirement System increased its stake in Urban Edge Properties by 2.9% in the fourth quarter. Arizona State Retirement System now owns 35,213 shares of the real estate investment trust's stock valued at $757,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Urban Edge Properties by 76.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,029 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on UE shares. Evercore ISI decreased their target price 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 shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Thursday, March 20th.

Urban Edge Properties Stock Performance

Shares of NYSE UE traded up $0.15 during midday trading on Monday, hitting $17.14. The company's stock had a trading volume of 31,624 shares, compared to its average volume of 902,155. The stock has a fifty day moving average price of $19.31 and a 200 day moving average price of $20.88. The firm has a market capitalization of $2.15 billion, a price-to-earnings ratio of 28.90 and a beta of 1.28. Urban Edge Properties has a one year low of $12.33 and a one year 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 earnings per share (EPS) 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, research analysts forecast that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were given a dividend of $0.19 per share. 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 4.44%. The ex-dividend date was Friday, March 14th. Urban Edge Properties's payout ratio is 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.