Intech Investment Management LLC Takes $627,000 Position in Urban Edge Properties (NYSE:UE)

Intech Investment Management LLC bought a new position in shares of Urban Edge Properties (NYSE:UE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 29,298 shares of the real estate investment trust’s stock, valued at approximately $627,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of UE. Price T Rowe Associates Inc. MD grew its stake in shares of Urban Edge Properties by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 121,394 shares of the real estate investment trust’s stock worth $2,097,000 after purchasing an additional 6,479 shares during the last quarter. Louisiana State Employees Retirement System grew its position in Urban Edge Properties by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 59,800 shares of the real estate investment trust’s stock worth $1,105,000 after purchasing an additional 1,500 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Urban Edge Properties by 29.6% during the second quarter. Allspring Global Investments Holdings LLC now owns 32,843 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 7,501 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Urban Edge Properties by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,466 shares of the real estate investment trust’s stock valued at $951,000 after acquiring an additional 4,061 shares in the last quarter. Finally, Signaturefd LLC increased its stake in Urban Edge Properties by 91.6% in the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,317 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Evercore ISI increased their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th.

Urban Edge Properties Stock Performance

Urban Edge Properties stock opened at $23.01 on Friday. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.32 and a beta of 1.54. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The stock has a 50-day simple moving average of $22.20 and a 200 day simple moving average of $20.21.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The firm had revenue of $112.26 million during the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. On average, research analysts anticipate that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s payout ratio is 30.49%.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the transaction, the chief financial officer now directly owns 35,816 shares in the company, valued at approximately $844,183.12. This represents a 72.40 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.10% of the company’s stock.

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.