Urban Edge Properties $UE Shares Bought by Resolution Capital Ltd

Resolution Capital Ltd grew its position in Urban Edge Properties (NYSE:UE) by 74.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,940,938 shares of the real estate investment trust’s stock after acquiring an additional 1,677,531 shares during the period. Urban Edge Properties comprises 1.7% of Resolution Capital Ltd’s portfolio, making the stock its 16th largest holding. Resolution Capital Ltd’s holdings in Urban Edge Properties were worth $78,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP purchased a new position in Urban Edge Properties during the third quarter worth about $92,600,000. Jennison Associates LLC boosted its holdings in Urban Edge Properties by 72.2% in the 1st 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 in the last quarter. Balyasny Asset Management L.P. acquired a new position in Urban Edge Properties during the 4th quarter worth approximately $16,858,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Urban Edge Properties during the 4th quarter worth approximately $12,777,000. Finally, Bayhunt Capital LLC acquired a new position in Urban Edge Properties during the 4th quarter worth approximately $10,430,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jeffrey S. Olson sold 161,553 shares of Urban Edge Properties stock in a transaction on 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 directly owned 22,699 shares of the company’s stock, valued at approximately $493,249.27. The trade was a 87.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 2.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the company. UBS Group raised their price target on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Weiss Ratings raised Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a report on Wednesday, April 29th. Finally, BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Urban Edge Properties in a research report on Friday, June 12th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Urban Edge Properties presently has a consensus rating of “Hold” and an average price target of $23.20.

Urban Edge Properties Stock Down 0.8%

UE stock opened at $23.14 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.21. The company’s 50-day moving average price is $22.88 and its 200 day moving average price is $21.41. Urban Edge Properties has a 52 week low of $18.46 and a 52 week high of $24.11. The company has a market cap of $2.92 billion, a P/E ratio of 26.91 and a beta of 0.97.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.06. Urban Edge Properties had a net margin of 22.20% and a return on equity of 7.80%. The company had revenue of $132.62 million during the quarter, compared to analysts’ expectations of $119.45 million. On average, research analysts expect that Urban Edge Properties will post 1.49 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Monday, June 15th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 97.67%.

Urban Edge Properties Profile

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.