Urban Edge Properties (UE) Holdings Lifted by Goldman Sachs Group Inc.
Goldman Sachs Group Inc. boosted its stake in shares of Urban Edge Properties (NYSE:UE) by 215.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 658,793 shares of the real estate investment trust’s stock after acquiring an additional 449,763 shares during the quarter. Goldman Sachs Group Inc. owned 0.61% of Urban Edge Properties worth $15,633,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Pacad Investment Ltd. acquired a new stake in shares of Urban Edge Properties in the second quarter valued at $149,000. UBS Group AG increased its stake in shares of Urban Edge Properties by 18.9% in the first quarter. UBS Group AG now owns 6,315 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 1,004 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Urban Edge Properties by 26.3% in the second quarter. LS Investment Advisors LLC now owns 7,900 shares of the real estate investment trust’s stock valued at $187,000 after buying an additional 1,647 shares in the last quarter. Riverhead Capital Management LLC increased its stake in shares of Urban Edge Properties by 108.8% in the second quarter. Riverhead Capital Management LLC now owns 8,351 shares of the real estate investment trust’s stock valued at $198,000 after buying an additional 4,351 shares in the last quarter. Finally, GAM Holding AG increased its stake in shares of Urban Edge Properties by 10.5% in the second quarter. GAM Holding AG now owns 8,399 shares of the real estate investment trust’s stock valued at $199,000 after buying an additional 800 shares in the last quarter. Hedge funds and other institutional investors own 87.22% of the company’s stock.
A number of analysts have recently weighed in on the company. BidaskClub lowered Urban Edge Properties from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 24th. Evercore ISI lowered Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 target price for the company. in a research note on Monday, August 14th. Finally, Zacks Investment Research lowered Urban Edge Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th.
Shares of Urban Edge Properties (UE) opened at 25.43 on Monday. The stock has a 50 day moving average price of $24.76 and a 200-day moving average price of $24.98. Urban Edge Properties has a 52 week low of $23.13 and a 52 week high of $28.90. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 25.03 and a beta of 0.57.
The company also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a $0.22 dividend. The ex-dividend date was Thursday, September 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.46%. Urban Edge Properties’s payout ratio is presently 87.13%.
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Urban Edge Properties Profile
Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.
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