Ameriprise Financial Inc. Purchases 150,148 Shares of Urban Edge Properties (UE)
Ameriprise Financial Inc. increased its position in Urban Edge Properties (NYSE:UE) by 52.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 435,102 shares of the real estate investment trust’s stock after purchasing an additional 150,148 shares during the period. Ameriprise Financial Inc. owned approximately 0.38% of Urban Edge Properties worth $10,495,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of UE. Bank of New York Mellon Corp lifted its holdings in shares of Urban Edge Properties by 117.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 3,513,964 shares of the real estate investment trust’s stock worth $84,756,000 after purchasing an additional 1,894,634 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Urban Edge Properties by 10.8% in 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 in the last quarter. Voya Investment Management LLC lifted its holdings 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 worth $49,194,000 after purchasing an additional 879,435 shares in the last quarter. Balyasny Asset Management LLC bought a new position in Urban Edge Properties during the 2nd quarter valued at $13,890,000. Finally, Vanguard Group Inc. lifted its stake 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 valued at $384,360,000 after acquiring an additional 465,517 shares in the last quarter. Institutional investors own 89.71% of the company’s stock.
Urban Edge Properties (NYSE:UE) opened at $24.95 on Thursday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 7.58 and a current ratio of 7.58. Urban Edge Properties has a 52 week low of $23.13 and a 52 week high of $28.90. The firm has a market capitalization of $2,969.50, a price-to-earnings ratio of 19.62 and a beta of 0.61.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.53%. The ex-dividend date of this dividend is Thursday, December 14th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 90.72%.
Several equities analysts have weighed in on the company. TheStreet upgraded Urban Edge Properties from a “d” rating to a “c-” rating in a research note on Monday, November 6th. Capital One Financial restated an “equal weight” rating on shares of Urban Edge Properties in a research note on Wednesday, November 1st. Finally, Zacks Investment Research cut Urban Edge Properties from a “hold” rating to a “sell” rating in a research note 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 stock. The company has a consensus rating of “Hold” and an average price target of $25.00.
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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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