State Street Corp Raises Position in Urban Edge Properties (NYSE:UE)

State Street Corp raised its holdings in Urban Edge Properties (NYSE:UE) by 2.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,990,363 shares of the real estate investment trust’s stock after buying an additional 177,745 shares during the period. State Street Corp owned approximately 0.06% of Urban Edge Properties worth $149,524,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UE. FMR LLC boosted its position 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 valued at $297,568,000 after buying an additional 1,096,560 shares during the period. Marshall Wace LLP purchased a new position in Urban Edge Properties in the 2nd quarter valued at approximately $19,326,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Urban Edge Properties by 438.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 782,921 shares of the real estate investment trust’s stock valued at $16,747,000 after buying an additional 637,587 shares during the period. American Century Companies Inc. boosted its position in Urban Edge Properties by 48.4% in the 2nd quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock valued at $25,973,000 after buying an additional 458,951 shares during the period. Finally, Sei Investments Co. boosted its position in Urban Edge Properties by 32.0% in the 2nd quarter. Sei Investments Co. now owns 909,459 shares of the real estate investment trust’s stock valued at $16,798,000 after buying an additional 220,715 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

Shares of UE opened at $22.34 on Friday. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The firm’s fifty day simple moving average is $22.49 and its 200-day simple moving average is $20.58. The firm has a market capitalization of $2.79 billion, a price-to-earnings ratio of 10.02 and a beta of 1.53. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data 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 for the quarter. Equities analysts forecast that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 annualized dividend and a yield of 3.04%. Urban Edge Properties’s dividend payout ratio is currently 30.49%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI raised their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Monday, September 16th.

Insider Buying and Selling

In related news, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the sale, the chief executive officer now directly owns 1,931 shares in the company, valued at $43,350.95. This trade represents a 99.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Langer sold 93,962 shares of Urban Edge Properties stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now owns 35,816 shares in the company, valued at $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by company insiders.

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.