Norges Bank Buys Shares of 311,492 Urban Edge Properties (NYSE:UE)

Norges Bank purchased a new position in shares of Urban Edge Properties (NYSE:UE) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 311,492 shares of the real estate investment trust’s stock, valued at approximately $6,697,000. Norges Bank owned approximately 0.25% of Urban Edge Properties as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP lifted its position in Urban Edge Properties by 1,499.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust’s stock worth $34,216,000 after acquiring an additional 1,499,628 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC grew its holdings in Urban Edge Properties by 718.6% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 447,487 shares of the real estate investment trust’s stock valued at $9,621,000 after buying an additional 392,820 shares during the last quarter. American Century Companies Inc. grew its holdings in Urban Edge Properties by 19.4% in the 4th quarter. American Century Companies Inc. now owns 1,789,168 shares of the real estate investment trust’s stock valued at $38,467,000 after buying an additional 291,125 shares during the last quarter. Vanguard Group Inc. increased its position in Urban Edge Properties by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 19,962,196 shares of the real estate investment trust’s stock worth $429,187,000 after buying an additional 213,478 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Urban Edge Properties by 6.9% during the fourth quarter. Jennison Associates LLC now owns 3,169,598 shares of the real estate investment trust’s stock worth $68,146,000 after buying an additional 203,569 shares during the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Evercore ISI cut 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 upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Urban Edge Properties Trading Down 3.8 %

Shares of UE stock opened at $16.28 on Wednesday. The company has a market capitalization of $2.05 billion, a P/E ratio of 27.59 and a beta of 1.28. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15. The firm has a 50-day moving average price of $19.54 and a 200 day moving average price of $20.99.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Research analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Friday, March 14th. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.67%. Urban Edge Properties’s payout ratio is 128.81%.

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.