Sei Investments Co. increased its stake in Urban Edge Properties (NYSE:UE) by 217.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 214,231 shares of the real estate investment trust’s stock after purchasing an additional 146,703 shares during the quarter. Sei Investments Co. owned approximately 0.19% of Urban Edge Properties worth $5,166,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in Urban Edge Properties in the second quarter valued at about $32,732,000. BlackRock Inc. lifted its holdings in Urban Edge Properties by 10.8% during the 2nd quarter. BlackRock Inc. now owns 12,974,141 shares of the real estate investment trust’s stock worth $307,876,000 after purchasing an additional 1,260,383 shares during the last quarter. Voya Investment Management LLC increased its stake in shares of Urban Edge Properties by 73.7% in the 2nd quarter. Voya Investment Management LLC now owns 2,073,095 shares of the real estate investment trust’s stock valued at $49,194,000 after purchasing an additional 879,435 shares during the last quarter. Balyasny Asset Management LLC bought a new stake in Urban Edge Properties during the 2nd quarter worth $13,890,000. Finally, Vanguard Group Inc. lifted its holdings in Urban Edge Properties by 3.0% during the 2nd quarter. Vanguard Group Inc. now owns 16,197,196 shares of the real estate investment trust’s stock worth $384,360,000 after buying an additional 465,517 shares during the period. 89.71% of the stock is currently owned by institutional investors.
Several equities analysts have recently issued reports on UE shares. Evercore ISI lowered shares of Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 target price for the company. in a report on Monday, August 14th. 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 reiterated an “equal weight” rating on shares of Urban Edge Properties in a research note on Wednesday, November 1st. Finally, Zacks Investment Research lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Urban Edge Properties presently has an average rating of “Hold” and a consensus price target of $25.00.
Shares of Urban Edge Properties (NYSE:UE) traded down $0.68 on Wednesday, hitting $25.31. 457,300 shares of the company’s stock were exchanged, compared to its average volume of 623,781. The company has a current ratio of 7.58, a quick ratio of 7.58 and a debt-to-equity ratio of 1.36. The firm has a market capitalization of $2,958.11, a PE ratio of 19.54 and a beta of 0.61. Urban Edge Properties has a 1-year low of $23.13 and a 1-year high of $28.90.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.48%. Urban Edge Properties’s dividend payout ratio is presently 90.72%.
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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