Urban Edge Properties (UE) Shares Bought by Vanguard Group Inc.
Vanguard Group Inc. grew its position in Urban Edge Properties (NYSE:UE) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,197,196 shares of the real estate investment trust’s stock after buying an additional 465,517 shares during the quarter. Vanguard Group Inc. owned 15.06% of Urban Edge Properties worth $384,360,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in UE. Northern Trust Corp increased its position in Urban Edge Properties by 12.3% during the 2nd quarter. Northern Trust Corp now owns 2,098,181 shares of the real estate investment trust’s stock worth $49,789,000 after purchasing an additional 229,576 shares in the last quarter. Citigroup Inc. increased its position in Urban Edge Properties by 143.2% during the 2nd quarter. Citigroup Inc. now owns 65,564 shares of the real estate investment trust’s stock worth $1,556,000 after purchasing an additional 38,602 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Urban Edge Properties during the 2nd quarter worth about $298,000. Menta Capital LLC increased its position in Urban Edge Properties by 89.8% during the 2nd quarter. Menta Capital LLC now owns 29,120 shares of the real estate investment trust’s stock worth $691,000 after purchasing an additional 13,779 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Urban Edge Properties by 2.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 236,887 shares of the real estate investment trust’s stock worth $5,621,000 after purchasing an additional 5,437 shares in the last quarter. Institutional investors and hedge funds own 87.22% of the company’s stock.
Shares of Urban Edge Properties (NYSE:UE) opened at 24.55 on Friday. Urban Edge Properties has a 52-week low of $23.67 and a 52-week high of $28.90. The stock has a market cap of $2.64 billion, a PE ratio of 24.16 and a beta of 0.57. The company’s 50-day moving average price is $24.55 and its 200-day moving average price is $24.55.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend was Thursday, September 14th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 87.13%.
A number of research firms recently commented on UE. Evercore ISI cut Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 price objective for the company. in a research report on Monday, August 14th. BidaskClub upgraded Urban Edge Properties from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research cut Urban Edge Properties from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th.
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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