Arizona State Retirement System grew its holdings in Urban Edge Properties (NYSE:UE) by 10.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 80,963 shares of the real estate investment trust’s stock after buying an additional 7,398 shares during the quarter. Arizona State Retirement System owned approximately 0.07% of Urban Edge Properties worth $1,788,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Urban Edge Properties by 2.6% in the first quarter. Principal Financial Group Inc. now owns 458,907 shares of the real estate investment trust’s stock valued at $9,797,000 after purchasing an additional 11,472 shares during the period. Xact Kapitalforvaltning AB lifted its holdings in Urban Edge Properties by 42.5% during the second quarter. Xact Kapitalforvaltning AB now owns 23,790 shares of the real estate investment trust’s stock worth $544,000 after buying an additional 7,100 shares during the period. Bank of Montreal Can purchased a new stake in Urban Edge Properties during the second quarter worth $565,000. Nisa Investment Advisors LLC purchased a new stake in Urban Edge Properties during the second quarter worth $447,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Urban Edge Properties by 46.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,689,413 shares of the real estate investment trust’s stock worth $61,507,000 after buying an additional 858,396 shares during the period. Institutional investors and hedge funds own 86.64% of the company’s stock.
Shares of UE stock traded up $0.69 during trading hours on Thursday, reaching $19.88. 1,155,412 shares of the company’s stock were exchanged, compared to its average volume of 717,877. The company has a market cap of $2.19 billion, a PE ratio of 14.84 and a beta of 0.56. The company has a current ratio of 8.25, a quick ratio of 8.25 and a debt-to-equity ratio of 1.52. Urban Edge Properties has a fifty-two week low of $18.90 and a fifty-two week high of $26.19.
Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $112.21 million for the quarter, compared to the consensus estimate of $94.49 million. Urban Edge Properties had a return on equity of 8.39% and a net margin of 20.55%. On average, equities analysts forecast that Urban Edge Properties will post 1.29 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Friday, December 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.43%. The ex-dividend date of this dividend is Thursday, December 13th. Urban Edge Properties’s payout ratio is presently 65.67%.
UE has been the subject of a number of analyst reports. ValuEngine upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Zacks Investment Research lowered Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Thursday.
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 88 properties totaling 16.3 million square feet of gross leasable area.
Further Reading: Debt-To-Equity Ratio
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