Vestcor Inc Increases Position in Urban Edge Properties (NYSE:UE)

Vestcor Inc grew its position in Urban Edge Properties (NYSE:UE - Free Report) by 1,837.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 106,713 shares of the real estate investment trust's stock after acquiring an additional 101,206 shares during the quarter. Vestcor Inc owned about 0.09% of Urban Edge Properties worth $2,283,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Point72 Hong Kong Ltd acquired a new stake in Urban Edge Properties during the 2nd quarter worth approximately $50,000. Signaturefd LLC lifted its holdings in shares of Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust's stock worth $51,000 after purchasing an additional 1,317 shares during the period. GAMMA Investing LLC grew its position in Urban Edge Properties by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust's stock valued at $59,000 after buying an additional 563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake 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 valued at $97,000 after buying an additional 1,221 shares during the period. Finally, Quest Partners LLC purchased 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.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock traded down $0.07 during trading on Wednesday, reaching $22.43. The company's stock had a trading volume of 1,225,632 shares, compared to its average volume of 891,144. The business has a 50 day moving average price of $22.44 and a 200-day moving average price of $20.53. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The company has a market capitalization of $2.80 billion, a P/E ratio of 10.06 and a beta of 1.53. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The company had revenue of $112.26 million for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. As a group, sell-side analysts anticipate that Urban Edge Properties will post 1.32 EPS 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 given a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.03%. Urban Edge Properties's payout ratio is 30.49%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI boosted their price target on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the firm's 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 transaction, the chief financial officer now directly owns 35,816 shares in the company, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 3.10% of the company's stock.

About Urban Edge Properties

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.