ClariVest Asset Management LLC Decreases Stake in Urban Edge Properties (NYSE:UE)

ClariVest Asset Management LLC lessened its position in shares of Urban Edge Properties (NYSE:UE) by 29.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,211 shares of the real estate investment trust’s stock after selling 19,495 shares during the quarter. ClariVest Asset Management LLC’s holdings in Urban Edge Properties were worth $872,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in UE. Jennison Associates LLC increased its position in Urban Edge Properties by 98.6% in the first quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock worth $34,659,000 after purchasing an additional 996,287 shares during the last quarter. Norges Bank bought a new stake in shares of Urban Edge Properties in the 4th quarter worth about $14,894,000. Westwood Holdings Group Inc. raised its position in shares of Urban Edge Properties by 12.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock valued at $78,959,000 after buying an additional 516,317 shares in the last quarter. Centersquare Investment Management LLC raised its position in shares of Urban Edge Properties by 15.8% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock valued at $36,334,000 after buying an additional 296,324 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Urban Edge Properties by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock valued at $320,302,000 after acquiring an additional 191,258 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI upped their price objective on Urban Edge Properties from $20.00 to $21.00 and gave the company an “in-line” rating in a research report on Wednesday, August 28th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

Urban Edge Properties Stock Performance

Urban Edge Properties stock opened at $20.92 on Thursday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $2.54 billion, a P/E ratio of 9.10 and a beta of 1.55. Urban Edge Properties has a 1-year low of $14.36 and a 1-year high of $21.28. The company’s 50-day moving average is $19.86 and its 200 day moving average is $18.09.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. The business had revenue of $106.36 million during the quarter, compared to analysts’ expectations of $110.34 million. Research analysts forecast that Urban Edge Properties will post 1.31 EPS for the current year.

Urban Edge Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date is Friday, September 13th. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

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.