State of New Jersey Common Pension Fund D Trims Stake in Urban Edge Properties (NYSE:UE)

State of New Jersey Common Pension Fund D trimmed its position in Urban Edge Properties (NYSE:UE) by 32.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 111,762 shares of the real estate investment trust’s stock after selling 53,508 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.09% of Urban Edge Properties worth $2,064,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in UE. Signaturefd LLC boosted its stake in shares of Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,317 shares in the last quarter. Quadrant Capital Group LLC boosted its position in Urban Edge Properties by 34.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,548 shares of the real estate investment trust’s stock valued at $83,000 after acquiring an additional 1,162 shares in the last quarter. EntryPoint Capital LLC bought a new stake in Urban Edge Properties during the 1st quarter valued at $171,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Urban Edge Properties in the 4th quarter valued at $183,000. Finally, Custom Index Systems LLC bought a new position in shares of Urban Edge Properties in the 2nd quarter worth $259,000. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

Shares of UE opened at $21.17 on Friday. The business’s 50-day moving average is $20.27 and its two-hundred day moving average is $18.29. The company has a market capitalization of $2.57 billion, a P/E ratio of 9.20 and a beta of 1.55. Urban Edge Properties has a fifty-two week low of $14.36 and a fifty-two week high of $21.66. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.11 and a current ratio of 2.11.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The firm had revenue of $106.36 million during the quarter, compared to analyst estimates of $110.34 million. Urban Edge Properties had a net margin of 66.89% and a return on equity of 24.65%. Research analysts predict that Urban Edge Properties will post 1.31 earnings per share 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 given a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.21%. Urban Edge Properties’s dividend payout ratio (DPR) is 29.57%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Evercore ISI lifted their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

Urban Edge Properties 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.