2,687 Shares in Urban Edge Properties (NYSE:UE) Bought by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd purchased a new stake in Urban Edge Properties (NYSE:UE) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,687 shares of the real estate investment trust’s stock, valued at approximately $50,000.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Urban Edge Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock valued at $320,302,000 after purchasing an additional 191,258 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in Urban Edge Properties by 12.7% in the first quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock worth $78,959,000 after buying an additional 516,317 shares during the period. Centersquare Investment Management LLC lifted its holdings in Urban Edge Properties by 15.8% in the first quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock worth $36,334,000 after buying an additional 296,324 shares during the period. Jennison Associates LLC boosted its position in Urban Edge Properties by 98.6% during the 1st quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after acquiring an additional 996,287 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Urban Edge Properties by 7.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,757,044 shares of the real estate investment trust’s stock worth $32,452,000 after acquiring an additional 117,152 shares during the period. 94.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on UE. 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 Price Performance

Shares of UE opened at $21.09 on Friday. Urban Edge Properties has a fifty-two week low of $14.36 and a fifty-two week high of $21.66. The firm’s 50-day simple moving average is $20.46 and its two-hundred day simple moving average is $18.46. The stock has a market cap of $2.51 billion, a PE ratio of 9.17 and a beta of 1.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.11 and a current ratio of 2.11.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). The company had revenue of $106.36 million during the quarter, compared to analysts’ expectations of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. Analysts anticipate that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Friday, September 13th. Urban Edge Properties’s dividend payout ratio is presently 29.57%.

About Urban Edge Properties

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.