Proficio Capital Partners LLC Invests $486,000 in Urban Edge Properties (NYSE:UE)

Proficio Capital Partners LLC acquired a new stake in Urban Edge Properties (NYSE:UE) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 22,597 shares of the real estate investment trust’s stock, valued at approximately $486,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its position 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 worth $14,373,000 after acquiring an additional 156,874 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Urban Edge Properties during the 3rd quarter worth approximately $101,000. Intech Investment Management LLC acquired a new position in shares of Urban Edge Properties during the 3rd quarter worth approximately $627,000. Sanctuary Advisors LLC purchased a new stake in Urban Edge Properties in the 3rd quarter valued at approximately $269,000. Finally, Geode Capital Management LLC grew its holdings in Urban Edge Properties by 4.4% during the 3rd quarter. Geode Capital Management LLC now owns 3,109,608 shares of the real estate investment trust’s stock valued at $66,525,000 after buying an additional 130,854 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Stock Performance

Shares of UE opened at $19.10 on Tuesday. Urban Edge Properties has a 1 year low of $15.81 and a 1 year high of $23.85. The company’s 50 day simple moving average is $20.04 and its 200 day simple moving average is $21.23. The company has a market capitalization of $2.40 billion, a price-to-earnings ratio of 32.38 and a beta of 1.54. 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 issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. On average, sell-side analysts predict that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 3.98%. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Friday, March 14th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 128.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Evercore ISI cut their price target on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company 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 research note on Thursday, March 20th.

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.