Urban Edge Properties (NYSE:UE) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Urban Edge Properties (NYSE:UE) by 4.4% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 3,109,608 shares of the real estate investment trust’s stock after buying an additional 130,854 shares during the period. Geode Capital Management LLC owned about 2.49% of Urban Edge Properties worth $66,525,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Vestcor Inc grew its position in Urban Edge Properties by 1,837.8% during the third quarter. Vestcor Inc now owns 106,713 shares of the real estate investment trust’s stock valued at $2,283,000 after buying an additional 101,206 shares during the period. M&T Bank Corp grew its position in shares of Urban Edge Properties by 11.1% during the 3rd quarter. M&T Bank Corp now owns 12,886 shares of the real estate investment trust’s stock valued at $276,000 after acquiring an additional 1,292 shares during the period. Barclays PLC grew its position in shares of Urban Edge Properties by 346.2% during the 3rd quarter. Barclays PLC now owns 221,007 shares of the real estate investment trust’s stock valued at $4,727,000 after acquiring an additional 171,478 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Urban Edge Properties by 1.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 350,909 shares of the real estate investment trust’s stock valued at $7,506,000 after purchasing an additional 4,823 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Urban Edge Properties by 4.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 152,700 shares of the real estate investment trust’s stock worth $3,266,000 after purchasing an additional 7,000 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total value of $5,388,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,931 shares in the company, valued at $43,350.95. This represents a 99.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Langer sold 93,962 shares of Urban Edge Properties stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.57, for a total value of $2,214,684.34. Following the transaction, the chief financial officer now owns 35,816 shares in the company, valued at approximately $844,183.12. The trade was a 72.40 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Monday, September 16th.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $21.57 on Friday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.30. The firm has a market cap of $2.69 billion, a PE ratio of 9.67 and a beta of 1.53. Urban Edge Properties has a one year low of $15.81 and a one year high of $23.85. The firm has a fifty day moving average of $22.55 and a 200 day moving average of $20.73.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The business 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%. As a group, research analysts predict that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a $0.17 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

Urban Edge Properties Profile

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.