Charles Schwab Investment Management Inc. Purchases 101,111 Shares of Urban Edge Properties (NYSE:UE)

Charles Schwab Investment Management Inc. raised its holdings in shares of Urban Edge Properties (NYSE:UE) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,271,201 shares of the real estate investment trust’s stock after buying an additional 101,111 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Urban Edge Properties were worth $48,581,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Marshall Wace LLP bought a new stake in Urban Edge Properties during the second quarter valued at about $19,326,000. American Century Companies Inc. boosted its position in shares of Urban Edge Properties by 48.4% during the second quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock worth $25,973,000 after acquiring an additional 458,951 shares during the last quarter. Sei Investments Co. grew its stake in Urban Edge Properties by 32.0% during the second quarter. Sei Investments Co. now owns 909,459 shares of the real estate investment trust’s stock valued at $16,798,000 after acquiring an additional 220,715 shares in the last quarter. Jennison Associates LLC grew its stake in Urban Edge Properties by 7.8% during the third quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust’s stock valued at $63,443,000 after acquiring an additional 215,879 shares in the last quarter. Finally, APG Asset Management US Inc. increased its holdings in Urban Edge Properties by 48.2% in the 2nd quarter. APG Asset Management US Inc. now owns 661,067 shares of the real estate investment trust’s stock valued at $12,031,000 after acquiring an additional 215,000 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Urban Edge Properties Stock Performance

NYSE:UE opened at $23.01 on Monday. The stock’s 50 day simple moving average is $22.20 and its two-hundred day simple moving average is $20.23. Urban Edge Properties has a 1 year low of $15.81 and a 1 year high of $23.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 10.32 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. The company had revenue of $112.26 million for the quarter. As a group, equities analysts anticipate that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date is Friday, December 13th. Urban Edge Properties’s payout ratio is 30.49%.

Insider Buying and Selling

In other news, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total value of $2,214,684.34. Following the completion of the sale, the chief financial officer now owns 35,816 shares in the company, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Separately, Evercore ISI increased their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Monday, September 16th.

Urban Edge Properties Company Profile

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.