Van ECK Associates Corp Buys 2,701 Shares of Urban Edge Properties (NYSE:UE)

Van ECK Associates Corp raised its stake in Urban Edge Properties (NYSE:UE) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,031 shares of the real estate investment trust’s stock after buying an additional 2,701 shares during the period. Van ECK Associates Corp’s holdings in Urban Edge Properties were worth $462,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Sei Investments Co. boosted its stake in Urban Edge Properties by 33.1% in 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. Marshall Wace LLP purchased a new stake in shares of Urban Edge Properties in the 2nd quarter valued at $19,326,000. Centersquare Investment Management LLC grew its holdings in shares of Urban Edge Properties by 15.8% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock valued at $36,334,000 after purchasing an additional 296,324 shares during the last quarter. Russell Investments Group Ltd. raised its position in Urban Edge Properties by 16.2% in the 1st quarter. Russell Investments Group Ltd. now owns 191,555 shares of the real estate investment trust’s stock worth $3,308,000 after purchasing an additional 26,650 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Urban Edge Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock worth $320,302,000 after purchasing an additional 191,258 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

UE stock opened at $23.32 on Wednesday. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.46 and a beta of 1.54. The firm’s 50-day moving average price is $21.66 and its two-hundred day moving average price is $19.70. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. 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 quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The company had revenue of $112.26 million for the quarter. As a group, equities analysts predict that Urban Edge Properties will post 1.32 earnings per share 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. Investors of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.92%. The ex-dividend date is Friday, December 13th. Urban Edge Properties’s dividend payout ratio (DPR) is currently 30.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on UE. Evercore ISI raised their price objective 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 upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

Insider Activity at Urban Edge Properties

In related news, CFO Mark Langer sold 93,962 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total value of $2,214,684.34. Following the completion of the transaction, the chief financial officer now directly owns 35,816 shares of the company’s stock, valued at $844,183.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.10% of the stock is currently owned by company insiders.

Urban Edge Properties 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.