Principal Financial Group Inc. lifted its stake in Urban Edge Properties (NYSE:UE - Free Report) by 7.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 697,220 shares of the real estate investment trust's stock after purchasing an additional 46,813 shares during the period. Principal Financial Group Inc. owned 0.56% of Urban Edge Properties worth $14,990,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. USA Financial Formulas acquired a new stake in Urban Edge Properties in the fourth quarter worth $93,000. Mirae Asset Global Investments Co. Ltd. boosted its position in 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 valued at $97,000 after purchasing an additional 1,221 shares during the last quarter. Quest Partners LLC bought a new position in shares of Urban Edge Properties in the third quarter valued at $101,000. KBC Group NV increased its holdings 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 worth $111,000 after buying an additional 1,524 shares during the last quarter. Finally, Entropy Technologies LP bought a new stake in Urban Edge Properties during the third quarter worth $206,000. 94.94% of the stock is owned by institutional investors and hedge funds.
Urban Edge Properties Stock Performance
Shares of UE stock traded up $0.29 during trading on Friday, reaching $20.61. 1,224,794 shares of the company's stock were exchanged, compared to its average volume of 819,884. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The firm's fifty day moving average price is $20.60 and its 200-day moving average price is $21.37. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $2.59 billion, a PE ratio of 34.94 and a beta of 1.54.
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 net margin of 16.31% and a return on equity of 5.59%. As a group, sell-side analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current year.
Urban Edge Properties Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.19 dividend. This is a boost from Urban Edge Properties's previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend is Friday, March 14th. Urban Edge Properties's dividend payout ratio is currently 128.81%.
Insiders Place Their Bets
In other news, CEO Jeffrey S. Olson sold 240,000 shares of the stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the transaction, the chief executive officer now owns 1,931 shares in the company, valued at approximately $43,350.95. This trade represents a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.10% of the company's stock.
Wall Street Analysts Forecast Growth
UE has been the subject of a number of analyst reports. StockNews.com raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Tuesday, February 25th. Evercore ISI reduced their price target on Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating for the company in a report on Tuesday, December 24th.
Get Our Latest Research Report on UE
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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