Amica Mutual Insurance Co. Has $2.78 Million Stake in Urban Edge Properties (UE)
Amica Mutual Insurance Co. decreased its holdings in shares of Urban Edge Properties (NYSE:UE) by 29.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,187 shares of the real estate investment trust’s stock after selling 49,032 shares during the quarter. Amica Mutual Insurance Co. owned about 0.10% of Urban Edge Properties worth $2,778,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Urban Edge Properties by 3.0% in the second 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 during the last quarter. BlackRock Inc. boosted its holdings in Urban Edge Properties by 10.8% in the second quarter. BlackRock Inc. now owns 12,974,141 shares of the real estate investment trust’s stock valued at $307,876,000 after acquiring an additional 1,260,383 shares during the last quarter. State Street Corp boosted its holdings in Urban Edge Properties by 8.6% in the second quarter. State Street Corp now owns 4,532,945 shares of the real estate investment trust’s stock valued at $107,562,000 after acquiring an additional 359,805 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Urban Edge Properties by 117.0% in the third quarter. Bank of New York Mellon Corp now owns 3,513,964 shares of the real estate investment trust’s stock valued at $84,756,000 after acquiring an additional 1,894,634 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Urban Edge Properties by 12.3% in the second quarter. Northern Trust Corp now owns 2,098,181 shares of the real estate investment trust’s stock valued at $49,789,000 after acquiring an additional 229,576 shares during the last quarter. Institutional investors and hedge funds own 83.46% of the company’s stock.
A number of brokerages recently weighed in on UE. Evercore ISI cut Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 target price on the stock. in a report on Monday, August 14th. TheStreet upgraded Urban Edge Properties from a “d” rating to a “c-” rating in a report on Monday, November 6th. Capital One Financial Corporation reiterated an “equal weight” rating on shares of Urban Edge Properties in a report on Wednesday, November 1st. Finally, Zacks Investment Research cut Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. Two equities research analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $25.00.
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Shares of Urban Edge Properties (UE) traded up $0.10 during trading on Friday, reaching $25.18. The company had a trading volume of 586,900 shares, compared to its average volume of 627,300. 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 $2,865.92, a PE ratio of 18.93 and a beta of 0.55. The company has a quick ratio of 7.58, a current ratio of 7.58 and a debt-to-equity ratio of 1.36.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 3.49%. The ex-dividend date of this dividend is Thursday, December 14th. Urban Edge Properties’s payout ratio is currently 90.72%.
Urban Edge Properties Profile
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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