Fisher Asset Management LLC Lowers Position in Urban Edge Properties (NYSE:UE)

Fisher Asset Management LLC decreased its holdings in shares of Urban Edge Properties (NYSE:UE) by 21.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,195,732 shares of the real estate investment trust’s stock after selling 317,326 shares during the quarter. Fisher Asset Management LLC owned about 1.02% of Urban Edge Properties worth $21,882,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Jennison Associates LLC purchased a new stake in shares of Urban Edge Properties in the fourth quarter valued at $18,494,000. Norges Bank purchased a new stake in shares of Urban Edge Properties in the fourth quarter valued at $14,894,000. Resolution Capital Ltd raised its stake in shares of Urban Edge Properties by 20.8% in the third quarter. Resolution Capital Ltd now owns 4,593,348 shares of the real estate investment trust’s stock valued at $70,094,000 after acquiring an additional 792,133 shares during the period. American Century Companies Inc. grew its holdings in shares of Urban Edge Properties by 52.2% in the third quarter. American Century Companies Inc. now owns 1,599,058 shares of the real estate investment trust’s stock worth $24,402,000 after purchasing an additional 548,193 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of Urban Edge Properties by 3.0% in the third quarter. FMR LLC now owns 13,294,317 shares of the real estate investment trust’s stock worth $202,871,000 after purchasing an additional 388,473 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Thursday, May 9th.

Urban Edge Properties Stock Up 0.3 %

NYSE:UE opened at $18.01 on Wednesday. The company has a market cap of $2.14 billion, a PE ratio of 7.83 and a beta of 1.51. Urban Edge Properties has a twelve month low of $14.13 and a twelve month high of $18.79. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.25. The company’s 50 day moving average is $17.09 and its two-hundred day moving average is $17.32.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.28). Urban Edge Properties had a net margin of 63.27% and a return on equity of 24.36%. The business had revenue of $109.63 million for the quarter, compared to analyst estimates of $106.38 million. Analysts anticipate that Urban Edge Properties will post 1.27 EPS for the current year.

Urban Edge Properties Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, June 14th. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

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.