Comerica Bank lifted its stake in Urban Edge Properties (NYSE:UE – Get Rating) by 85.6% during the 1st quarter, Holdings Channel reports. The institutional investor owned 95,573 shares of the real estate investment trust’s stock after purchasing an additional 44,069 shares during the quarter. Comerica Bank’s holdings in Urban Edge Properties were worth $1,873,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently made changes to their positions in UE. Allegheny Financial Group LTD bought a new position in shares of Urban Edge Properties in the fourth quarter worth about $41,000. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Urban Edge Properties by 159.2% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 2,341 shares of the real estate investment trust’s stock worth $44,000 after purchasing an additional 1,438 shares in the last quarter. Schroder Investment Management Group grew its position in shares of Urban Edge Properties by 33.5% during the fourth quarter. Schroder Investment Management Group now owns 7,298 shares of the real estate investment trust’s stock worth $139,000 after purchasing an additional 1,830 shares in the last quarter. Van ECK Associates Corp grew its position in shares of Urban Edge Properties by 66.9% during the fourth quarter. Van ECK Associates Corp now owns 9,012 shares of the real estate investment trust’s stock worth $171,000 after purchasing an additional 3,613 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth about $201,000. Institutional investors own 94.09% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on UE shares. Morgan Stanley cut their target price on Urban Edge Properties from $16.00 to $14.25 and set an “underweight” rating for the company in a research report on Friday, July 15th. StockNews.com cut Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Wednesday, June 22nd. Finally, Compass Point cut their price target on Urban Edge Properties from $25.00 to $22.00 and set a “buy” rating for the company in a report on Wednesday, June 22nd. Two equities research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $20.31.
Urban Edge Properties Stock Performance
Urban Edge Properties (NYSE:UE – Get Rating) last announced its earnings results on Thursday, May 5th. The real estate investment trust reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). The company had revenue of $99.42 million during the quarter, compared to analysts’ expectations of $97.89 million. Urban Edge Properties had a return on equity of 8.99% and a net margin of 21.47%. On average, research analysts predict that Urban Edge Properties will post 1.19 EPS for the current fiscal year.
Urban Edge Properties Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date was Tuesday, June 14th. Urban Edge Properties’s dividend payout ratio (DPR) is 81.01%.
Urban Edge Properties Profile
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 78 properties totaling 15.1 million square feet of gross leasable area.
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