Connor Clark & Lunn Investment Management Ltd. Invests $565,000 in Urban Edge Properties (NYSE:UE)

Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Urban Edge Properties (NYSE:UE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 26,417 shares of the real estate investment trust’s stock, valued at approximately $565,000.

Several other large investors have also recently bought and sold shares of the business. Jennison Associates LLC lifted its holdings in shares of Urban Edge Properties by 7.8% in the third quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust’s stock valued at $63,443,000 after purchasing an additional 215,879 shares in the last quarter. Quest Partners LLC acquired a new position in Urban Edge Properties in the third quarter valued at $101,000. Metis Global Partners LLC acquired a new position in shares of Urban Edge Properties in the 3rd quarter valued at about $267,000. MQS Management LLC purchased a new stake in Urban Edge Properties during the third quarter worth approximately $694,000. Finally, Carrera Capital Advisors purchased a new stake in shares of Urban Edge Properties in the third quarter worth about $1,156,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Stock Performance

Shares of UE stock opened at $23.01 on Friday. The business has a 50 day simple moving average of $22.16 and a 200 day simple moving average of $20.17. 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 firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.32 and a beta of 1.54. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85.

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

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.96%. Urban Edge Properties’s dividend payout ratio is currently 30.49%.

Insider Activity at Urban Edge Properties

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the sale, the chief financial officer now directly owns 35,816 shares in the company, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

UE has been the subject of several recent analyst reports. Evercore ISI raised 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. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

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.