Assetmark Inc. Grows Stock Position in Urban Edge Properties (NYSE:UE)

Assetmark Inc. lifted its stake in shares of Urban Edge Properties (NYSE:UE) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 41,523 shares of the real estate investment trust’s stock after acquiring an additional 1,965 shares during the quarter. Assetmark Inc.’s holdings in Urban Edge Properties were worth $888,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Urban Edge Properties during the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC boosted its position in shares of Urban Edge Properties by 25.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 563 shares during the last quarter. Signaturefd LLC boosted its position in shares of Urban Edge Properties by 91.6% during the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after acquiring an additional 1,317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after buying an additional 1,221 shares during the period. Finally, Blue Trust Inc. raised its holdings in Urban Edge Properties by 875.1% during the 3rd quarter. Blue Trust Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 7,132 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 35,816 shares in the company, valued at $844,183.12. This trade represents a 72.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is currently owned by company insiders.

Urban Edge Properties Stock Down 0.3 %

NYSE:UE opened at $22.94 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The company has a market cap of $2.86 billion, a PE ratio of 10.29 and a beta of 1.54. The company’s 50 day moving average is $21.80 and its two-hundred day moving average is $19.79.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. The business had revenue of $112.26 million during the quarter. Analysts anticipate that Urban Edge Properties will post 1.32 EPS for the current year.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a yield of 2.96%. Urban Edge Properties’s dividend payout ratio (DPR) is 30.49%.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. 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 research report on Monday, September 16th.

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.