Sei Investments Co. Has $6.28 Million Stake in Urban Edge Properties $UE

Sei Investments Co. increased its stake in Urban Edge Properties (NYSE:UE) by 55.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 314,301 shares of the real estate investment trust’s stock after purchasing an additional 111,641 shares during the quarter. Sei Investments Co.’s holdings in Urban Edge Properties were worth $6,280,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of UE. Wellington Management Group LLP bought a new position in Urban Edge Properties during the third quarter worth $92,600,000. Jennison Associates LLC raised its holdings in shares of Urban Edge Properties by 72.2% during the first quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust’s stock valued at $91,613,000 after purchasing an additional 1,923,202 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Urban Edge Properties during the 4th quarter worth about $16,858,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Urban Edge Properties during the 4th quarter worth about $12,777,000. Finally, Bayhunt Capital LLC acquired a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $10,430,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on UE shares. BTIG Research reaffirmed a “buy” rating and set a $25.00 price target on shares of Urban Edge Properties in a research note on Friday, June 12th. UBS Group raised their price objective on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Urban Edge Properties in a report on Friday, July 24th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $23.20.

Urban Edge Properties Stock Down 0.3%

Urban Edge Properties stock opened at $22.60 on Tuesday. The firm has a market capitalization of $2.85 billion, a price-to-earnings ratio of 26.28 and a beta of 0.98. The firm’s fifty day moving average price is $22.92 and its two-hundred day moving average price is $21.51. Urban Edge Properties has a 1-year low of $18.46 and a 1-year high of $24.11. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.21.

Urban Edge Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.84 annualized dividend and a yield of 3.7%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 97.67%.

Insiders Place Their Bets

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 161,553 shares of Urban Edge Properties stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.73, for a total transaction of $3,510,546.69. Following the completion of the transaction, the chief executive officer owned 22,699 shares in the company, valued at approximately $493,249.27. The trade was a 87.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.70% of the company’s stock.

About Urban Edge Properties

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.