Blue Trust Inc. Acquires 7,132 Shares of Urban Edge Properties (NYSE:UE)

Blue Trust Inc. grew its holdings in Urban Edge Properties (NYSE:UE) by 875.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,947 shares of the real estate investment trust’s stock after acquiring an additional 7,132 shares during the quarter. Blue Trust Inc.’s holdings in Urban Edge Properties were worth $170,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of UE. Allspring Global Investments Holdings LLC boosted its position in shares of Urban Edge Properties by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,342 shares of the real estate investment trust’s stock valued at $438,000 after acquiring an additional 2,135 shares during the period. BNP Paribas Financial Markets boosted its position in shares of Urban Edge Properties by 36.9% in the first quarter. BNP Paribas Financial Markets now owns 61,209 shares of the real estate investment trust’s stock valued at $1,057,000 after acquiring an additional 16,493 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Urban Edge Properties by 19.6% in the first quarter. Daiwa Securities Group Inc. now owns 42,704 shares of the real estate investment trust’s stock valued at $738,000 after acquiring an additional 7,012 shares during the period. Mutual of America Capital Management LLC boosted its position in shares of Urban Edge Properties by 6.7% in the first quarter. Mutual of America Capital Management LLC now owns 288,315 shares of the real estate investment trust’s stock valued at $4,979,000 after acquiring an additional 18,062 shares during the period. Finally, Jennison Associates LLC boosted its position in shares of Urban Edge Properties by 98.6% in the first 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 period. 94.94% of the stock is owned by institutional investors.

Urban Edge Properties Stock Down 1.2 %

Shares of UE stock opened at $21.81 on Friday. The stock has a market cap of $2.59 billion, a P/E ratio of 9.48 and a beta of 1.55. Urban Edge Properties has a one year low of $14.36 and a one year high of $22.31. The stock has a fifty day moving average price of $21.16 and a 200 day moving average price of $19.14. 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 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 net margin of 66.89% and a return on equity of 24.65%. The firm had revenue of $106.36 million during the quarter, compared to analyst estimates of $110.34 million. Analysts predict that Urban Edge Properties will post 1.31 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.12%. Urban Edge Properties’s dividend payout ratio is presently 29.57%.

Wall Street Analyst Weigh In

UE has been the subject of several research reports. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Evercore ISI raised their target price on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th.

About Urban Edge Properties

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.