Urban Edge Properties (NYSE:UE) Shares Acquired by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lifted its holdings in shares of Urban Edge Properties (NYSE:UE) by 6.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 66,314 shares of the real estate investment trust’s stock after acquiring an additional 4,006 shares during the period. Illinois Municipal Retirement Fund’s holdings in Urban Edge Properties were worth $1,426,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Amalgamated Bank raised its position in shares of Urban Edge Properties by 2.0% in the 4th quarter. Amalgamated Bank now owns 36,272 shares of the real estate investment trust’s stock worth $780,000 after buying an additional 724 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Urban Edge Properties by 36.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 1,221 shares during the period. M&T Bank Corp raised its position in shares of Urban Edge Properties by 11.1% in the 3rd quarter. M&T Bank Corp now owns 12,886 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 1,292 shares during the period. KBC Group NV raised its position in shares of Urban Edge Properties by 42.1% in the 4th quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust’s stock worth $111,000 after buying an additional 1,524 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Urban Edge Properties by 2.9% in the 4th quarter. Louisiana State Employees Retirement System now owns 60,400 shares of the real estate investment trust’s stock worth $1,299,000 after buying an additional 1,700 shares during the period. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the sale, the chief executive officer now directly owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

UE has been the topic of several research reports. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, February 25th. Evercore ISI cut their target price on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th.

Urban Edge Properties Trading Up 1.4 %

NYSE:UE opened at $20.61 on Friday. The business’s 50-day moving average is $20.60 and its two-hundred day moving average is $21.37. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85. The firm has a market capitalization of $2.59 billion, a PE ratio of 34.94 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Research analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.19 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 3.69%. Urban Edge Properties’s dividend payout ratio (DPR) is 128.81%.

About Urban Edge Properties

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.