Public Employees Retirement System of Ohio Decreases Stock Holdings in Urban Edge Properties $UE

Public Employees Retirement System of Ohio lowered its position in shares of Urban Edge Properties (NYSE:UE) by 10.7% in the first quarter, HoldingsChannel.com reports. The firm owned 280,571 shares of the real estate investment trust’s stock after selling 33,736 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Urban Edge Properties were worth $5,606,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of UE. Wellington Management Group LLP acquired a new stake in shares of Urban Edge Properties during the 3rd quarter worth about $92,600,000. Jennison Associates LLC boosted its holdings in Urban Edge Properties by 72.2% in the first quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust’s stock valued at $91,613,000 after purchasing an additional 1,923,202 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Urban Edge Properties in the fourth quarter valued at approximately $16,858,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in Urban Edge Properties in the fourth quarter valued at approximately $12,777,000. Finally, Bayhunt Capital LLC purchased a new position in Urban Edge Properties in the fourth quarter valued at approximately $10,430,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Insider Buying and Selling at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 19,034 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $21.62, for a total value of $411,515.08. Following the completion of the sale, the chief executive officer directly owned 3,665 shares of the company’s stock, valued at approximately $79,237.30. This represents a 83.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Weiss Ratings raised shares of Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. Finally, BTIG Research reiterated a “buy” rating and set a $25.00 price target on shares of Urban Edge Properties in a research note on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $23.20.

Urban Edge Properties Stock Down 0.8%

Urban Edge Properties stock opened at $23.14 on Wednesday. Urban Edge Properties has a fifty-two week low of $18.46 and a fifty-two week high of $24.11. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market capitalization of $2.92 billion, a P/E ratio of 26.91 and a beta of 0.97. The stock has a 50-day simple moving average of $22.88 and a 200-day simple moving average of $21.41.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The firm had revenue of $132.62 million for the quarter, compared to the consensus estimate of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%. Equities research analysts expect that Urban Edge Properties will post 1.49 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.21 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Urban Edge Properties’s payout ratio is currently 97.67%.

Urban Edge Properties Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.