Principal Financial Group Inc. Purchases 64,221 Shares of Urban Edge Properties (NYSE:UE)

Principal Financial Group Inc. increased its holdings in shares of Urban Edge Properties (NYSE:UE - Free Report) by 11.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 650,407 shares of the real estate investment trust's stock after acquiring an additional 64,221 shares during the period. Principal Financial Group Inc. owned about 0.52% of Urban Edge Properties worth $13,912,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Point72 Hong Kong Ltd acquired a new stake in Urban Edge Properties in the 2nd quarter valued at about $50,000. GAMMA Investing LLC increased its holdings in shares of Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust's stock valued at $59,000 after purchasing an additional 563 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Urban Edge Properties by 91.6% in the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust's stock valued at $51,000 after purchasing an additional 1,317 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Urban Edge Properties by 36.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust's stock worth $97,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in Urban Edge Properties during the 3rd quarter worth $101,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Evercore ISI lowered their target price on Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating for the company in a research note on Tuesday, December 24th.

Urban Edge Properties Trading Down 1.1 %

Urban Edge Properties stock traded down $0.23 during trading hours on Friday, reaching $21.37. 504,015 shares of the company's stock traded hands, compared to its average volume of 892,078. The firm has a market capitalization of $2.67 billion, a price-to-earnings ratio of 9.58 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.30. Urban Edge Properties has a fifty-two week low of $15.81 and a fifty-two week high of $23.85. The firm's 50 day moving average is $22.51 and its 200-day moving average is $20.89.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share 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 during the quarter. On average, analysts predict that Urban Edge Properties will post 1.32 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties's dividend payout ratio (DPR) is currently 30.49%.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 240,000 shares of the stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value of $5,388,000.00. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Mark Langer sold 93,962 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now directly owns 35,816 shares of the company's stock, valued at $844,183.12. This trade represents a 72.40 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is owned by corporate insiders.

Urban Edge Properties Company 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.