Prudential Financial Inc. increased its stake in Urban Edge Properties (NYSE:UE - Free Report) by 68.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 320,211 shares of the real estate investment trust's stock after purchasing an additional 129,875 shares during the quarter. Prudential Financial Inc. owned approximately 0.26% of Urban Edge Properties worth $6,885,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Urban Edge Properties by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 19,962,196 shares of the real estate investment trust's stock worth $429,187,000 after purchasing an additional 213,478 shares in the last quarter. FMR LLC increased its stake in Urban Edge Properties by 8.6% in the 3rd quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust's stock worth $297,568,000 after buying an additional 1,096,560 shares in the last quarter. State Street Corp increased its stake in 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 worth $149,524,000 after buying an additional 177,745 shares in the last quarter. Jennison Associates LLC raised its holdings in Urban Edge Properties by 6.9% during the fourth quarter. Jennison Associates LLC now owns 3,169,598 shares of the real estate investment trust's stock valued at $68,146,000 after acquiring an additional 203,569 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Urban Edge Properties by 4.4% in the third 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 acquiring an additional 130,854 shares in the last quarter. Institutional investors own 94.94% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on UE shares. StockNews.com raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Thursday, March 20th. Evercore ISI cut 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 report on Tuesday, December 24th.
Read Our Latest Report on Urban Edge Properties
Urban Edge Properties Price Performance
NYSE UE traded down $0.64 on Friday, reaching $17.40. The company had a trading volume of 1,378,036 shares, compared to its average volume of 882,168. The stock has a market capitalization of $2.19 billion, a PE ratio of 29.48 and a beta of 1.28. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85. 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 firm's 50 day moving average price is $19.79 and its 200 day moving average price is $21.09.
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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. As a group, equities analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current year.
Urban Edge Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 4.37%. 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 dividend payout ratio is 128.81%.
Urban Edge Properties Profile
(
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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