Evoke Wealth LLC Purchases Shares of 59,893 Urban Edge Properties (NYSE:UE)

Evoke Wealth LLC acquired a new position in Urban Edge Properties (NYSE:UE) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 59,893 shares of the real estate investment trust’s stock, valued at approximately $1,106,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in shares of Urban Edge Properties by 11.4% during the 4th quarter. Hsbc Holdings PLC now owns 65,060 shares of the real estate investment trust’s stock worth $1,191,000 after purchasing an additional 6,672 shares during the period. Norges Bank purchased a new position in shares of Urban Edge Properties during the 4th quarter worth about $14,894,000. Quadrant Capital Group LLC boosted its stake in shares of Urban Edge Properties by 34.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,548 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,162 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Urban Edge Properties during the 4th quarter worth about $183,000. Finally, Jump Financial LLC purchased a new position in shares of Urban Edge Properties during the 4th quarter worth about $749,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Urban Edge Properties Stock Up 3.1 %

UE stock opened at $17.73 on Friday. The firm’s fifty day simple moving average is $16.84 and its 200-day simple moving average is $17.22. The company has a market capitalization of $2.11 billion, a P/E ratio of 7.71 and a beta of 1.49. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.76 and a quick ratio of 1.76. Urban Edge Properties has a 12 month low of $13.13 and a 12 month high of $18.79.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.28). Urban Edge Properties had a net margin of 63.27% and a return on equity of 24.36%. The business had revenue of $109.63 million during the quarter, compared to analysts’ expectations of $106.38 million. As a group, equities research analysts forecast that Urban Edge Properties will post 1.27 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date is Friday, June 14th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 29.57%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Thursday, May 9th.

Insiders Place Their Bets

In other news, General Counsel Robert C. Milton III sold 26,333 shares of the stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $17.02, for a total value of $448,187.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 3.10% of the stock is currently owned by company 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.