Algert Global LLC Takes Position in Urban Edge Properties (NYSE:UE)

Algert Global LLC acquired a new stake in Urban Edge Properties (NYSE:UE) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 35,475 shares of the real estate investment trust’s stock, valued at approximately $655,000.

Several other hedge funds also recently bought and sold shares of UE. Sei Investments Co. grew its position in Urban Edge Properties by 33.1% during the first quarter. Sei Investments Co. now owns 688,744 shares of the real estate investment trust’s stock worth $11,895,000 after buying an additional 171,246 shares in the last quarter. Centersquare Investment Management LLC increased its position in shares of Urban Edge Properties by 15.8% in the first quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock worth $36,334,000 after purchasing an additional 296,324 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Urban Edge Properties in the second quarter worth approximately $19,326,000. Russell Investments Group Ltd. raised its stake in Urban Edge Properties by 16.2% in the first quarter. Russell Investments Group Ltd. now owns 191,555 shares of the real estate investment trust’s stock valued at $3,308,000 after purchasing an additional 26,650 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in Urban Edge Properties by 98.6% during the first quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after purchasing an additional 996,287 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on UE. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Evercore ISI increased their target price on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 16th.

Urban Edge Properties Stock Up 0.3 %

Shares of UE opened at $21.06 on Friday. Urban Edge Properties has a 1 year low of $14.36 and a 1 year high of $21.66. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.11 and a quick ratio of 2.11. The stock has a 50 day simple moving average of $20.61 and a two-hundred day simple moving average of $18.63. The firm has a market cap of $2.50 billion, a P/E ratio of 9.16 and a beta of 1.55.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $106.36 million for the quarter, compared to the consensus estimate of $110.34 million. Urban Edge Properties had a net margin of 66.89% and a return on equity of 24.65%. On average, analysts forecast that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were issued a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.23%. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

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.