Mutual of America Capital Management LLC Grows Position in Urban Edge Properties (NYSE:UE)

Mutual of America Capital Management LLC increased its position in shares of Urban Edge Properties (NYSE:UE) by 1,210.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 270,253 shares of the real estate investment trust’s stock after buying an additional 249,635 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Urban Edge Properties were worth $4,946,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in UE. BlackRock Inc. grew its stake in Urban Edge Properties by 29.0% during the 1st quarter. BlackRock Inc. now owns 20,450,479 shares of the real estate investment trust’s stock worth $390,605,000 after buying an additional 4,602,331 shares during the last quarter. Vanguard Group Inc. lifted its position in Urban Edge Properties by 7.1% during the 1st quarter. Vanguard Group Inc. now owns 18,080,860 shares of the real estate investment trust’s stock worth $345,345,000 after acquiring an additional 1,204,987 shares during the period. Norges Bank acquired a new stake in Urban Edge Properties during the 4th quarter worth approximately $15,832,000. State Street Corp lifted its position in Urban Edge Properties by 18.1% during the 1st quarter. State Street Corp now owns 6,993,442 shares of the real estate investment trust’s stock worth $133,575,000 after acquiring an additional 1,074,039 shares during the period. Finally, Resolution Capital Ltd lifted its position in Urban Edge Properties by 20.8% during the 3rd quarter. Resolution Capital Ltd now owns 4,593,348 shares of the real estate investment trust’s stock worth $70,094,000 after acquiring an additional 792,133 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley raised Urban Edge Properties from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $14.00 to $18.00 in a research report on Thursday, December 21st.

Insider Activity

In other news, General Counsel Robert C. Milton III sold 26,333 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The stock was sold at an average price of $17.02, for a total value of $448,187.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.30% of the company’s stock.

Urban Edge Properties Stock Up 0.9 %

Urban Edge Properties stock opened at $16.28 on Monday. Urban Edge Properties has a twelve month low of $13.13 and a twelve month high of $18.79. The stock has a 50 day moving average of $16.96 and a two-hundred day moving average of $16.87. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $1.93 billion, a price-to-earnings ratio of 7.68 and a beta of 1.49.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings results on Wednesday, February 14th. The real estate investment trust reported $1.88 EPS for the quarter, beating the consensus estimate of $0.31 by $1.57. The business had revenue of $106.25 million during the quarter. Urban Edge Properties had a return on equity of 23.62% and a net margin of 59.60%. As a group, research analysts expect that Urban Edge Properties will post 1.27 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.17 dividend. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, March 14th. Urban Edge Properties’s dividend payout ratio (DPR) is currently 32.08%.

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.