State of Tennessee Treasury Department lessened its holdings in Urban Edge Properties (NYSE:UE) by 77.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,211 shares of the real estate investment trust’s stock after selling 92,253 shares during the period. State of Tennessee Treasury Department’s holdings in Urban Edge Properties were worth $450,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in UE. Van ECK Associates Corp lifted its stake in Urban Edge Properties by 33.2% in the fourth quarter. Van ECK Associates Corp now owns 4,663 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 1,163 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Urban Edge Properties in the fourth quarter valued at approximately $141,000. Voloridge Investment Management LLC purchased a new position in Urban Edge Properties in the fourth quarter valued at approximately $152,000. Standard Life Aberdeen plc purchased a new position in Urban Edge Properties in the first quarter valued at approximately $190,000. Finally, Cibc World Markets Corp purchased a new position in Urban Edge Properties in the first quarter valued at approximately $195,000. Hedge funds and other institutional investors own 92.26% of the company’s stock.
Urban Edge Properties stock opened at $20.05 on Wednesday. The company has a market capitalization of $2.35 billion, a PE ratio of 36.46 and a beta of 1.77. Urban Edge Properties has a fifty-two week low of $8.99 and a fifty-two week high of $20.33. The stock has a fifty day moving average price of $18.84. The company has a current ratio of 6.33, a quick ratio of 6.33 and a debt-to-equity ratio of 1.58.
Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Sunday, May 2nd. The real estate investment trust reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.16. The firm had revenue of $94.62 million for the quarter, compared to analysts’ expectations of $88.14 million. Urban Edge Properties had a net margin of 19.35% and a return on equity of 6.35%. As a group, equities research analysts forecast that Urban Edge Properties will post 1.02 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be paid a $0.15 dividend. The ex-dividend date is Monday, June 14th. This represents a $0.60 dividend on an annualized basis and a yield of 2.99%. Urban Edge Properties’s dividend payout ratio is presently 68.18%.
A number of equities research analysts have issued reports on the stock. TheStreet raised shares of Urban Edge Properties from a “d+” rating to a “c” rating in a report on Monday, February 22nd. Capital One Financial cut shares of Urban Edge Properties from an “overweight” rating to an “equal weight” rating in a report on Monday, April 19th. Morgan Stanley boosted their target price on shares of Urban Edge Properties from $17.25 to $18.75 and gave the company an “underweight” rating in a report on Friday, June 11th. Finally, Zacks Investment Research cut shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a report on Friday, April 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company’s stock. Urban Edge Properties has an average rating of “Hold” and a consensus target price of $16.69.
Urban Edge Properties Company Profile
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.
Featured Story: Insider Trading
Want to see what other hedge funds are holding UE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Urban Edge Properties (NYSE:UE).