Urban Edge Properties (NYSE:UE) CEO Sells $5,388,000.00 in Stock

Urban Edge Properties (NYSE:UE) 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 value of $5,388,000.00. Following the completion of the transaction, the chief executive officer now owns 1,931 shares of the company’s stock, 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 available through this hyperlink.

Urban Edge Properties Stock Up 0.2 %

UE stock opened at $22.34 on Friday. The stock has a market cap of $2.79 billion, a P/E 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 has a twelve month low of $15.81 and a twelve month high of $23.85. The company’s 50 day moving average is $22.49 and its two-hundred day moving average is $20.58.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. The firm had revenue of $112.26 million for the quarter. Research analysts expect that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.04%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in UE. Sanctuary Advisors LLC purchased a new position in shares of Urban Edge Properties during the third quarter worth approximately $269,000. Coldstream Capital Management Inc. purchased a new position in Urban Edge Properties during the 3rd quarter worth $206,000. Geode Capital Management LLC increased its stake in Urban Edge Properties by 4.4% in the third 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 purchasing an additional 130,854 shares during the period. Vestcor Inc raised its holdings in shares of Urban Edge Properties by 1,837.8% in the third quarter. Vestcor Inc now owns 106,713 shares of the real estate investment trust’s stock valued at $2,283,000 after buying an additional 101,206 shares during the last quarter. Finally, M&T Bank Corp boosted its stake in shares of Urban Edge Properties by 11.1% during the third quarter. M&T Bank Corp now owns 12,886 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 1,292 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.