Louisiana State Employees Retirement System Buys 1,700 Shares of Urban Edge Properties (NYSE:UE)

Louisiana State Employees Retirement System grew its stake in Urban Edge Properties (NYSE:UE) by 2.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,400 shares of the real estate investment trust’s stock after acquiring an additional 1,700 shares during the period. Louisiana State Employees Retirement System’s holdings in Urban Edge Properties were worth $1,299,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Entropy Technologies LP lifted its position in shares of Urban Edge Properties by 112.2% in the 4th quarter. Entropy Technologies LP now owns 20,457 shares of the real estate investment trust’s stock worth $440,000 after purchasing an additional 10,818 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Urban Edge Properties by 25.6% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 25,622 shares of the real estate investment trust’s stock worth $551,000 after purchasing an additional 5,220 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Urban Edge Properties by 2.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 135,762 shares of the real estate investment trust’s stock worth $2,919,000 after purchasing an additional 3,086 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Urban Edge Properties by 3.1% in the 4th quarter. State of Alaska Department of Revenue now owns 131,267 shares of the real estate investment trust’s stock worth $2,820,000 after purchasing an additional 4,007 shares during the period. Finally, abrdn plc lifted its position in shares of Urban Edge Properties by 42.3% in the 4th quarter. abrdn plc now owns 36,409 shares of the real estate investment trust’s stock worth $776,000 after purchasing an additional 10,826 shares during the period. 94.94% of the stock is currently owned by institutional investors.

Urban Edge Properties Price Performance

Shares of UE stock opened at $20.73 on Monday. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85. The company has a market capitalization of $2.59 billion, a PE ratio of 9.29 and a beta of 1.54. The firm’s 50-day moving average is $20.95 and its two-hundred day moving average is $21.34. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. Analysts predict that Urban Edge Properties will post 1.35 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, March 14th. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.67%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 30.49%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Evercore ISI decreased their target price 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. StockNews.com lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Friday.

Insider Buying and Selling at Urban Edge Properties

In related news, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value of $5,388,000.00. Following the completion of the transaction, the chief executive officer now owns 1,931 shares in the company, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.10% of the company’s stock.

Urban Edge Properties Company 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.