Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Urban Edge Properties (NYSE:UE - Free Report) by 66.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,483 shares of the real estate investment trust's stock after buying an additional 34,017 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Urban Edge Properties worth $1,838,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC grew its position in Urban Edge Properties by 8.6% during the 3rd quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust's stock valued at $297,568,000 after purchasing an additional 1,096,560 shares during the last quarter. State Street Corp grew its position in Urban Edge Properties by 2.6% during the 3rd quarter. State Street Corp now owns 6,990,363 shares of the real estate investment trust's stock valued at $149,524,000 after purchasing an additional 177,745 shares during the last quarter. Jennison Associates LLC grew its position in Urban Edge Properties by 6.9% during the 4th quarter. Jennison Associates LLC now owns 3,169,598 shares of the real estate investment trust's stock valued at $68,146,000 after purchasing an additional 203,569 shares during the last quarter. Geode Capital Management LLC lifted its stake in Urban Edge Properties by 4.4% during the 3rd 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 during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in Urban Edge Properties by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,346,699 shares of the real estate investment trust's stock valued at $50,454,000 after acquiring an additional 75,498 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have issued reports on UE shares. StockNews.com upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Thursday. Evercore ISI lowered their price objective on shares of Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating on the stock in a research note on Tuesday, December 24th.
Check Out Our Latest Stock Report on UE
Urban Edge Properties Stock Performance
Shares of NYSE:UE traded down $0.13 during trading on Friday, hitting $18.63. The company's stock had a trading volume of 1,597,035 shares, compared to its average volume of 819,552. The company has a 50-day moving average of $20.08 and a 200-day moving average of $21.26. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 31.58 and a beta of 1.54.
Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping 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%. On average, sell-side analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current year.
Urban Edge Properties Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.19 per share. This is a boost from Urban Edge Properties's previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. This represents a $0.76 dividend on an annualized basis and a yield of 4.08%. Urban Edge Properties's dividend payout ratio (DPR) is presently 128.81%.
Urban Edge Properties Profile
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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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