Principal Financial Group Inc. boosted its position in shares of Urban Edge Properties (NYSE:UE – Free Report) by 11.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 650,407 shares of the real estate investment trust’s stock after acquiring an additional 64,221 shares during the quarter. Principal Financial Group Inc.’s holdings in Urban Edge Properties were worth $13,912,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Marshall Wace LLP acquired a new position in shares of Urban Edge Properties in the 2nd quarter valued at $19,326,000. Quest Partners LLC purchased a new position in Urban Edge Properties during the 3rd quarter worth $101,000. Intech Investment Management LLC acquired a new position in Urban Edge Properties in the third quarter valued at $627,000. Jennison Associates LLC raised its holdings in shares of Urban Edge Properties by 7.8% in the third quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust’s stock valued at $63,443,000 after buying an additional 215,879 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Urban Edge Properties during the third quarter worth about $550,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Evercore ISI dropped their price target on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th.
Urban Edge Properties Price Performance
Shares of NYSE UE opened at $21.37 on Friday. The stock has a fifty day moving average price of $22.51 and a 200 day moving average price of $20.87. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $2.67 billion, a PE ratio of 9.58 and a beta of 1.53.
Urban Edge Properties (NYSE:UE – Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The company 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%. Sell-side analysts forecast that Urban Edge Properties will post 1.32 EPS for the current year.
Urban Edge Properties Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date is Friday, December 13th. Urban Edge Properties’s dividend payout ratio is presently 30.49%.
Insiders Place Their Bets
In related news, CEO Jeffrey S. Olson sold 240,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the sale, the chief executive officer now owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Mark Langer sold 93,962 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the transaction, the chief financial officer now directly owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by insiders.
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.
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