Fmr LLC Sells 2,080,784 Shares of Urban Edge Properties (UE)
Fmr LLC lessened its stake in Urban Edge Properties (NYSE:UE) by 17.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,861,912 shares of the real estate investment trust’s stock after selling 2,080,784 shares during the period. Fmr LLC owned about 9.17% of Urban Edge Properties worth $234,023,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in UE. Legal & General Group Plc grew its stake in shares of Urban Edge Properties by 17.7% in the second quarter. Legal & General Group Plc now owns 289,901 shares of the real estate investment trust’s stock worth $6,882,000 after purchasing an additional 43,649 shares during the last quarter. Bank of Montreal Can raised its position in Urban Edge Properties by 114.1% during the 2nd quarter. Bank of Montreal Can now owns 37,053 shares of the real estate investment trust’s stock valued at $879,000 after purchasing an additional 19,750 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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. Schwab Charles Investment Management Inc. lifted its holdings in 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. Finally, Arizona State Retirement System lifted its holdings in Urban Edge Properties by 2.3% in the 1st quarter. Arizona State Retirement System now owns 38,200 shares of the real estate investment trust’s stock worth $1,005,000 after buying an additional 863 shares during the period. 87.22% of the stock is owned by institutional investors.
Urban Edge Properties (NYSE:UE) opened at 24.12 on Monday. The stock has a market cap of $2.59 billion, a P/E ratio of 23.74 and a beta of 0.57. Urban Edge Properties has a 12-month low of $24.04 and a 12-month high of $28.90. The firm’s 50 day moving average price is $25.00 and its 200-day moving average price is $25.00.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.88 annualized dividend and a yield of 3.65%. Urban Edge Properties’s dividend payout ratio (DPR) is 87.13%.
Several equities analysts have recently issued reports on the company. BidaskClub cut Urban Edge Properties from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Evercore ISI lowered shares of Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 price objective for the company. in a report on Monday, August 14th. Finally, Zacks Investment Research cut shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a research report on Saturday, June 24th.
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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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