American Century Companies Inc. Acquires 458,951 Shares of Urban Edge Properties (NYSE:UE)

American Century Companies Inc. raised its holdings in Urban Edge Properties (NYSE:UE) by 48.4% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,406,251 shares of the real estate investment trust’s stock after acquiring an additional 458,951 shares during the quarter. American Century Companies Inc. owned approximately 1.18% of Urban Edge Properties worth $25,973,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of UE. Jennison Associates LLC grew its position in Urban Edge Properties by 98.6% in the 1st quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after acquiring an additional 996,287 shares during the last quarter. Norges Bank bought a new position in shares of Urban Edge Properties during the 4th quarter worth $14,894,000. Westwood Holdings Group Inc. grew its position in shares of Urban Edge Properties by 12.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock worth $78,959,000 after buying an additional 516,317 shares in the last quarter. Centersquare Investment Management LLC grew its position in shares of Urban Edge Properties by 15.8% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock worth $36,334,000 after buying an additional 296,324 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Urban Edge Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock worth $320,302,000 after buying an additional 191,258 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Evercore ISI increased their price target on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

Urban Edge Properties Price Performance

Shares of UE stock opened at $21.24 on Thursday. Urban Edge Properties has a 1-year low of $14.36 and a 1-year high of $21.66. The stock’s 50-day moving average is $20.17 and its 200 day moving average is $18.25. The company has a market cap of $2.58 billion, a P/E ratio of 9.23 and a beta of 1.55. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.11 and a quick ratio of 2.11.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Urban Edge Properties had a net margin of 66.89% and a return on equity of 24.65%. The company had revenue of $106.36 million for the quarter, compared to the consensus estimate of $110.34 million. Research analysts predict that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date is Friday, September 13th. Urban Edge Properties’s payout ratio is currently 29.57%.

Urban Edge Properties Profile

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.