State of Alaska Department of Revenue raised its position in shares of Urban Edge Properties (NYSE:UE – Get Rating) by 2.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,267 shares of the real estate investment trust's stock after purchasing an additional 3,215 shares during the period. State of Alaska Department of Revenue owned 0.12% of Urban Edge Properties worth $2,117,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its stake in shares of Urban Edge Properties by 42.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 29,500 shares of the real estate investment trust's stock valued at $563,000 after acquiring an additional 8,738 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Urban Edge Properties by 45.0% in the 1st quarter. Bank of America Corp DE now owns 340,571 shares of the real estate investment trust's stock valued at $6,505,000 after acquiring an additional 105,683 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Urban Edge Properties in the 1st quarter valued at approximately $388,000. Point72 Hong Kong Ltd bought a new position in shares of Urban Edge Properties in the 1st quarter valued at approximately $39,000. Finally, Quantbot Technologies LP bought a new position in shares of Urban Edge Properties in the 1st quarter valued at approximately $47,000. 96.91% of the stock is owned by hedge funds and other institutional investors.
Get Urban Edge Properties alerts:Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on UE shares. Morgan Stanley raised their price objective on Urban Edge Properties from $14.25 to $15.00 and gave the company an "underweight" rating in a research note on Monday, August 29th. StockNews.com raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Tuesday, September 13th. Finally, Compass Point dropped their price target on Urban Edge Properties from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, June 22nd.
Urban Edge Properties Stock Performance
Shares of NYSE UE opened at $13.93 on Friday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 1.64. The business's 50 day moving average is $15.96 and its two-hundred day moving average is $17.09. The company has a market cap of $1.64 billion, a P/E ratio of 17.86 and a beta of 1.51. Urban Edge Properties has a 12 month low of $13.70 and a 12 month high of $19.96.Urban Edge Properties (NYSE:UE – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.18). Urban Edge Properties had a return on equity of 8.82% and a net margin of 21.07%. The firm had revenue of $97.45 million for the quarter, compared to analyst estimates of $95.89 million. On average, equities analysts expect that Urban Edge Properties will post 1.18 EPS for the current year.
Urban Edge Properties Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.59%. The ex-dividend date of this dividend is Wednesday, September 14th. Urban Edge Properties's payout ratio is presently 82.05%.
Urban Edge Properties Company Profile
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Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 78 properties totaling 15.1 million square feet of gross leasable area.
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