Cibc World Markets Corp Makes New Investment in Urban Edge Properties (NYSE:UE)

Cibc World Markets Corp purchased a new stake in Urban Edge Properties (NYSE:UE) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,787 shares of the real estate investment trust’s stock, valued at approximately $253,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Smartleaf Asset Management LLC raised its stake in Urban Edge Properties by 76.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,029 shares in the last quarter. USA Financial Formulas acquired a new position in shares of Urban Edge Properties in the 4th quarter valued at $93,000. Quest Partners LLC purchased a new position in shares of Urban Edge Properties in the 3rd quarter valued at $101,000. KBC Group NV raised its stake in Urban Edge Properties by 42.1% during the 4th quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 1,524 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new stake in Urban Edge Properties in the third quarter valued at $206,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UE. Evercore ISI cut their target price 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. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Urban Edge Properties Stock Performance

Shares of UE stock opened at $18.96 on Wednesday. The stock’s 50-day moving average price is $20.02 and its 200 day moving average price is $21.22. Urban Edge Properties has a 52-week low of $15.81 and a 52-week high of $23.85. The stock has a market capitalization of $2.38 billion, a PE ratio of 32.14 and a beta of 1.54. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a net margin of 16.31% and a return on equity of 5.59%. As a group, equities research analysts forecast that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.01%. This is an increase from Urban Edge Properties’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Urban Edge Properties’s dividend payout ratio is 128.81%.

Urban Edge Properties Company 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.