Westwood Holdings Group Inc. Sells 247,426 Shares of Urban Edge Properties (NYSE:UE)

Westwood Holdings Group Inc. lessened its holdings in Urban Edge Properties (NYSE:UE) by 5.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,324,628 shares of the real estate investment trust’s stock after selling 247,426 shares during the quarter. Westwood Holdings Group Inc. owned 3.56% of Urban Edge Properties worth $79,876,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC acquired a new stake in Urban Edge Properties during the fourth quarter worth about $183,000. Quadrant Capital Group LLC increased its stake in Urban Edge Properties by 34.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,548 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 1,162 shares during the last quarter. Norges Bank acquired a new position in Urban Edge Properties during the fourth quarter valued at approximately $14,894,000. Hsbc Holdings PLC raised its position in Urban Edge Properties by 11.4% during the fourth quarter. Hsbc Holdings PLC now owns 65,060 shares of the real estate investment trust’s stock valued at $1,191,000 after purchasing an additional 6,672 shares in the last quarter. Finally, Evoke Wealth LLC bought a new stake in Urban Edge Properties during the fourth quarter worth $1,106,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Price Performance

Shares of UE opened at $21.17 on Friday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.19. The stock has a market cap of $2.57 billion, a PE ratio of 9.20 and a beta of 1.55. Urban Edge Properties has a 12-month low of $14.36 and a 12-month high of $21.66. The business has a 50-day simple moving average of $20.31 and a two-hundred day simple moving average of $18.31.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. The business had revenue of $106.36 million for the quarter, compared to analyst estimates of $110.34 million. Analysts anticipate 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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date is Friday, September 13th. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on UE. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Evercore ISI boosted their target price on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th.

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.