Renaissance Technologies LLC Reduces Position in Urban Edge Properties (NYSE:UE)

Renaissance Technologies LLC trimmed its stake in Urban Edge Properties (NYSE:UE) by 33.7% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 252,800 shares of the real estate investment trust’s stock after selling 128,700 shares during the period. Renaissance Technologies LLC’s holdings in Urban Edge Properties were worth $4,669,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in UE. Signaturefd LLC lifted its stake in shares of Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,317 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Urban Edge Properties in the first quarter worth about $171,000. Custom Index Systems LLC purchased a new stake in shares of Urban Edge Properties in the second quarter worth about $259,000. Quadrature Capital Ltd purchased a new stake in shares of Urban Edge Properties in the fourth quarter worth about $272,000. Finally, Van ECK Associates Corp boosted its stake in shares of Urban Edge Properties by 11.2% in the second quarter. Van ECK Associates Corp now owns 18,330 shares of the real estate investment trust’s stock worth $339,000 after buying an additional 1,849 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on UE shares. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI upped their target price on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th.

Urban Edge Properties Stock Performance

NYSE UE opened at $21.09 on Friday. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 9.17 and a beta of 1.55. Urban Edge Properties has a twelve month low of $14.36 and a twelve month high of $21.66. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.19. The stock has a 50-day moving average of $20.46 and a 200 day moving average of $18.46.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $106.36 million during the quarter, compared to analyst estimates of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. Sell-side analysts anticipate that Urban Edge Properties will post 1.31 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.22%. Urban Edge Properties’s payout ratio is 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.