Urban Edge Properties (UE) Shares Sold by Standard Life Investments LTD
Standard Life Investments LTD cut its stake in Urban Edge Properties (NYSE:UE) by 44.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 165,059 shares of the real estate investment trust’s stock after selling 133,474 shares during the period. Standard Life Investments LTD’s holdings in Urban Edge Properties were worth $4,930,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of the company. Daiwa Securities Group Inc. raised its stake in Urban Edge Properties by 3.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,343 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 100 shares during the period. BlackRock Japan Co. Ltd raised its stake in Urban Edge Properties by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 4,894 shares of the real estate investment trust’s stock valued at $126,000 after buying an additional 65 shares during the period. LS Investment Advisors LLC raised its stake in Urban Edge Properties by 72.2% in the second quarter. LS Investment Advisors LLC now owns 5,532 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 2,320 shares during the period. Northstar Group Inc. purchased a new stake in Urban Edge Properties during the second quarter valued at $206,000. Finally, Bank of Montreal Can purchased a new stake in Urban Edge Properties during the second quarter valued at $274,000. Institutional investors own 90.16% of the company’s stock.
Shares of Urban Edge Properties (NYSE:UE) traded up 0.19% during midday trading on Friday, hitting $26.08. 499,705 shares of the stock traded hands. Urban Edge Properties has a 52 week low of $21.77 and a 52 week high of $30.29. The stock has a market capitalization of $2.59 billion, a P/E ratio of 30.86 and a beta of 0.51. The firm has a 50-day moving average price of $28.13 and a 200-day moving average price of $27.71.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, September 15th. Urban Edge Properties’s payout ratio is 91.96%.
Several research firms have weighed in on UE. Zacks Investment Research upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Wednesday, July 13th. Credit Suisse Group AG lowered shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and increased their target price for the stock from $27.00 to $28.00 in a report on Thursday, August 4th.
Urban Edge Properties Company Profile
Urban Edge Properties is a real estate investment trust focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. The Company owns approximately 80 shopping centers, over three malls and a warehouse park adjacent to one of its centers.
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