Prudential Financial Inc. Has $6.89 Million Stake in Urban Edge Properties (NYSE:UE)

Prudential Financial Inc. raised its position in Urban Edge Properties (NYSE:UE) by 68.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 320,211 shares of the real estate investment trust’s stock after acquiring an additional 129,875 shares during the quarter. Prudential Financial Inc.’s holdings in Urban Edge Properties were worth $6,885,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Intech Investment Management LLC acquired a new stake in Urban Edge Properties in the 3rd quarter valued at about $627,000. Charles Schwab Investment Management Inc. lifted its position in shares of Urban Edge Properties by 4.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,271,201 shares of the real estate investment trust’s stock valued at $48,581,000 after buying an additional 101,111 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Urban Edge Properties by 47.6% during the 3rd quarter. Citigroup Inc. now owns 187,934 shares of the real estate investment trust’s stock worth $4,020,000 after acquiring an additional 60,634 shares during the period. Cerity Partners LLC increased its holdings in shares of Urban Edge Properties by 92.1% during the 3rd quarter. Cerity Partners LLC now owns 41,983 shares of the real estate investment trust’s stock worth $898,000 after acquiring an additional 20,132 shares during the last quarter. Finally, FMR LLC raised its stake in Urban Edge Properties by 8.6% in the 3rd quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust’s stock valued at $297,568,000 after acquiring an additional 1,096,560 shares during the period. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $18.88 on Monday. The business’s 50 day moving average is $19.95 and its 200-day moving average is $21.19. The firm has a market cap of $2.37 billion, a P/E ratio of 32.00 and a beta of 1.54. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.15.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Equities research analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date is Friday, March 14th. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. Urban Edge Properties’s dividend payout ratio is presently 128.81%.

Analyst Upgrades and Downgrades

UE has been the subject of a number of research analyst reports. Evercore ISI reduced their price objective on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a research report on Tuesday, December 24th. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report 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.