Citigroup Inc. Boosts Stake in Urban Edge Properties (NYSE:UE)

Citigroup Inc. grew its stake in Urban Edge Properties (NYSE:UE) by 47.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 187,934 shares of the real estate investment trust’s stock after purchasing an additional 60,634 shares during the period. Citigroup Inc.’s holdings in Urban Edge Properties were worth $4,020,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of Urban Edge Properties in the 2nd quarter valued at approximately $50,000. GAMMA Investing LLC lifted its stake in shares of Urban Edge Properties by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 563 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Urban Edge Properties by 91.6% during the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Urban Edge Properties during the 3rd quarter worth approximately $101,000. 94.94% of the stock is owned by institutional investors.

Insider Activity

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 transaction, the chief financial officer now owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 4.30% of the company’s stock.

Urban Edge Properties Trading Up 0.6 %

Shares of NYSE:UE opened at $22.74 on Wednesday. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The business’s fifty day simple moving average is $22.23 and its 200-day simple moving average is $20.28. The company has a market capitalization of $2.84 billion, a PE ratio of 10.19 and a beta of 1.53. 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 (NYSE:UE) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The firm had revenue of $112.26 million for the quarter. As a group, equities research analysts predict that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a yield of 2.99%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 30.49%.

Analysts Set New Price Targets

Separately, Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Monday, September 16th.

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.