Urban Edge Properties (NYSE:UE) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Urban Edge Properties (NYSE:UE) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 650,407 shares of the real estate investment trust’s stock after purchasing an additional 64,221 shares during the period. Principal Financial Group Inc. owned approximately 0.52% of Urban Edge Properties worth $13,912,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in UE. Allspring Global Investments Holdings LLC raised its holdings in shares of Urban Edge Properties by 29.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,843 shares of the real estate investment trust’s stock valued at $607,000 after buying an additional 7,501 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Urban Edge Properties by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,466 shares of the real estate investment trust’s stock worth $951,000 after purchasing an additional 4,061 shares during the period. Signaturefd LLC lifted its position 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 in the last quarter. Van ECK Associates Corp boosted its stake in shares of Urban Edge Properties by 11.2% in the second quarter. Van ECK Associates Corp now owns 18,330 shares of the real estate investment trust’s stock valued at $339,000 after purchasing an additional 1,849 shares during the period. Finally, Natixis Advisors LLC grew its holdings in shares of Urban Edge Properties by 14.1% in the second quarter. Natixis Advisors LLC now owns 63,415 shares of the real estate investment trust’s stock valued at $1,171,000 after purchasing an additional 7,815 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $21.37 on Friday. The stock’s 50-day moving average is $22.51 and its two-hundred day moving average is $20.87. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $2.67 billion, a price-to-earnings ratio of 9.58 and a beta of 1.53. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85.

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

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.18%. Urban Edge Properties’s payout ratio is currently 30.49%.

Insider Buying and Selling

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey S. Olson sold 240,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the completion of the transaction, the chief executive officer now owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Separately, Evercore ISI decreased their price target on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th.

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.