American Century Companies Inc. reduced its stake in shares of Urban Edge Properties (NYSE:UE) by 27.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 763,645 shares of the real estate investment trust’s stock after selling 283,948 shares during the quarter. American Century Companies Inc. owned approximately 0.71% of Urban Edge Properties worth $18,419,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of UE. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Urban Edge Properties in the 2nd quarter worth about $439,000. Legal & General Group Plc grew its position in shares of Urban Edge Properties by 17.7% in the 2nd quarter. Legal & General Group Plc now owns 289,901 shares of the real estate investment trust’s stock worth $6,882,000 after buying an additional 43,649 shares during the period. Bank of Montreal Can grew its position in shares of Urban Edge Properties by 114.1% in the 2nd quarter. Bank of Montreal Can now owns 37,053 shares of the real estate investment trust’s stock worth $879,000 after buying an additional 19,750 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Urban Edge Properties by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,357,905 shares of the real estate investment trust’s stock worth $35,713,000 after buying an additional 52,889 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Urban Edge Properties by 15.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 946,963 shares of the real estate investment trust’s stock worth $22,472,000 after buying an additional 129,556 shares during the period. 83.97% of the stock is currently owned by institutional investors and hedge funds.
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Urban Edge Properties (NYSE:UE) opened at $24.77 on Friday. The stock has a market cap of $2,789.67, a PE ratio of 18.43 and a beta of 0.55. Urban Edge Properties has a one year low of $23.13 and a one year high of $28.90. The company has a debt-to-equity ratio of 1.36, a current ratio of 7.58 and a quick ratio of 7.58.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date is Thursday, December 14th. Urban Edge Properties’s payout ratio is 90.72%.
A number of analysts have recently weighed in on UE shares. TheStreet raised shares of Urban Edge Properties from a “d” rating to a “c-” rating in a research report on Monday, November 6th. Capital One Financial Corporation reaffirmed an “equal weight” rating on shares of Urban Edge Properties in a research report on Wednesday, November 1st. Zacks Investment Research downgraded shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Finally, Evercore ISI downgraded shares of Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 target price on the stock. in a research report on Monday, August 14th. Two analysts have rated the stock with a sell rating and two have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average target price of $25.00.
About Urban Edge Properties
Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.
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