Bank of New York Mellon Corp Purchases 105,436 Shares of Urban Edge Properties (NYSE:UE)

Bank of New York Mellon Corp grew its stake in shares of Urban Edge Properties (NYSE:UE) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,699,134 shares of the real estate investment trust’s stock after acquiring an additional 105,436 shares during the period. Bank of New York Mellon Corp owned about 1.36% of Urban Edge Properties worth $36,531,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its holdings in Urban Edge Properties by 30.5% during the third quarter. JPMorgan Chase & Co. now owns 671,934 shares of the real estate investment trust’s stock valued at $14,373,000 after buying an additional 156,874 shares during the period. Quest Partners LLC purchased a new position in Urban Edge Properties during the third quarter valued at approximately $101,000. Intech Investment Management LLC purchased a new position in Urban Edge Properties during the third quarter valued at approximately $627,000. Sanctuary Advisors LLC purchased a new position in Urban Edge Properties during the third quarter valued at approximately $269,000. Finally, Principal Financial Group Inc. increased its holdings in Urban Edge Properties by 11.0% during the third quarter. Principal Financial Group Inc. now owns 650,407 shares of the real estate investment trust’s stock valued at $13,912,000 after buying an additional 64,221 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the company’s stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the sale, the chief executive officer now owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. This represents a 99.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.30% of the company’s stock.

Urban Edge Properties Trading Down 0.8 %

Shares of Urban Edge Properties stock opened at $19.89 on Friday. The firm has a 50-day simple moving average of $20.50 and a two-hundred day simple moving average of $21.37. The company has a market cap of $2.49 billion, a P/E ratio of 33.70 and a beta of 1.54. Urban Edge Properties has a fifty-two week low of $15.81 and a fifty-two week high of $23.85. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.92 and a current ratio of 1.92.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a net margin of 16.31% and a return on equity of 5.59%. As a group, equities analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.19 dividend. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 3.82%. The ex-dividend date is Friday, March 14th. Urban Edge Properties’s dividend payout ratio is currently 128.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on UE shares. Evercore ISI cut their price target on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a report on Tuesday, December 24th. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th.

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.