Principal Financial Group Inc. Has $13.91 Million Stake in Urban Edge Properties (NYSE:UE)

Principal Financial Group Inc. lifted its stake in Urban Edge Properties (NYSE:UE - Free Report) by 11.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 650,407 shares of the real estate investment trust's stock after purchasing an additional 64,221 shares during the quarter. Principal Financial Group Inc. owned 0.54% of Urban Edge Properties worth $13,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Marshall Wace LLP acquired a new stake in shares of Urban Edge Properties in the 2nd quarter valued at $19,326,000. Westwood Holdings Group Inc. boosted its stake in shares of Urban Edge Properties by 12.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust's stock worth $78,959,000 after acquiring an additional 516,317 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Urban Edge Properties by 48.4% during the 2nd quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust's stock valued at $25,973,000 after acquiring an additional 458,951 shares during the last quarter. Sei Investments Co. raised its stake in shares of Urban Edge Properties by 32.0% in the 2nd quarter. Sei Investments Co. now owns 909,459 shares of the real estate investment trust's stock valued at $16,798,000 after acquiring an additional 220,715 shares in the last quarter. Finally, APG Asset Management US Inc. raised its stake in shares of Urban Edge Properties by 48.2% in the 2nd quarter. APG Asset Management US Inc. now owns 661,067 shares of the real estate investment trust's stock valued at $12,031,000 after acquiring an additional 215,000 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

UE has been the topic of several analyst reports. StockNews.com upgraded Urban Edge Properties from a "sell" rating to a "hold" rating in a report on Friday, August 2nd. Evercore ISI raised their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an "in-line" rating in a research note on Monday, September 16th.

Urban Edge Properties Stock Performance

NYSE:UE traded down $0.05 during mid-day trading on Friday, hitting $22.95. 1,025,284 shares of the company's stock traded hands, compared to its average volume of 782,095. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a 50 day moving average of $21.80 and a two-hundred day moving average of $19.81. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.29 and a beta of 1.54. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85.

Urban Edge Properties (NYSE:UE - Get Free Report) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. The business had revenue of $112.26 million for the quarter. On average, equities analysts forecast that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.96%. Urban Edge Properties's dividend payout ratio (DPR) is currently 30.49%.

Insider Activity at Urban Edge Properties

In related news, CFO Mark Langer sold 93,962 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the sale, the chief financial officer now owns 35,816 shares in the company, valued at $844,183.12. This trade represents a 72.40 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 3.10% of the stock is currently owned by insiders.

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.