Urban Edge Properties (NYSE:UE) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in Urban Edge Properties (NYSE:UE) by 56.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,159 shares of the real estate investment trust’s stock after selling 18,684 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Urban Edge Properties were worth $303,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in Urban Edge Properties in the second quarter valued at $50,000. GAMMA Investing LLC raised its stake in Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 563 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,317 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Urban Edge Properties by 875.1% during the third quarter. Blue Trust Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 7,132 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new position in shares of Urban Edge Properties during the first quarter worth about $171,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Stock Performance

NYSE UE opened at $21.99 on Friday. The company has a quick ratio of 2.11, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a 52-week low of $15.81 and a 52-week high of $22.89. The business’s 50-day moving average price is $21.36 and its 200 day moving average price is $19.33. The firm has a market cap of $2.75 billion, a P/E ratio of 9.86 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The firm had revenue of $112.26 million for the quarter. On average, equities research analysts expect that Urban Edge Properties will post 1.32 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Friday, September 13th. Urban Edge Properties’s dividend payout ratio is currently 30.49%.

Analyst Ratings Changes

Several equities analysts have issued reports on UE shares. Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

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.