Urban Edge Properties (NYSE:UE) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. trimmed its holdings in shares of Urban Edge Properties (NYSE:UE) by 10.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,621 shares of the real estate investment trust’s stock after selling 2,763 shares during the period. Victory Capital Management Inc.’s holdings in Urban Edge Properties were worth $484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP purchased a new position in shares of Urban Edge Properties in the second quarter valued at $19,326,000. Principal Financial Group Inc. boosted its stake in shares of Urban Edge Properties by 11.0% in the third quarter. Principal Financial Group Inc. now owns 650,407 shares of the real estate investment trust’s stock valued at $13,912,000 after purchasing an additional 64,221 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Urban Edge Properties in the third quarter valued at $550,000. American Century Companies Inc. boosted its stake in shares of Urban Edge Properties by 48.4% in the second quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock valued at $25,973,000 after purchasing an additional 458,951 shares during the period. Finally, Sierra Summit Advisors LLC purchased a new position in shares of Urban Edge Properties in the second quarter valued at $667,000. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Trading Down 1.3 %

UE opened at $23.01 on Friday. The stock has a market capitalization of $2.87 billion, a PE ratio of 10.45 and a beta of 1.54. The firm’s fifty day moving average price is $22.16 and its 200 day moving average price is $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. 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 posted its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $112.26 million for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. As a group, research analysts expect that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. Urban Edge Properties’s dividend payout ratio (DPR) is 30.49%.

Insiders Place Their Bets

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now directly owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on UE. Evercore ISI upped their target price on shares of 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 shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

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.