Lighthouse Investment Partners LLC Sells 255,000 Shares of Urban Edge Properties (NYSE:UE)

Lighthouse Investment Partners LLC lessened its holdings in Urban Edge Properties (NYSE:UE) by 54.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 210,000 shares of the real estate investment trust’s stock after selling 255,000 shares during the period. Lighthouse Investment Partners LLC owned about 0.17% of Urban Edge Properties worth $3,879,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of UE. Point72 Hong Kong Ltd acquired a new stake in shares of Urban Edge Properties during the second quarter valued at about $50,000. Signaturefd LLC grew its holdings in Urban Edge Properties by 91.6% during the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,317 shares during the last quarter. EntryPoint Capital LLC acquired a new position in Urban Edge Properties in the 1st quarter valued at approximately $171,000. Mackenzie Financial Corp increased its position in Urban Edge Properties by 7.4% in the 2nd quarter. Mackenzie Financial Corp now owns 11,978 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 822 shares during the period. Finally, Custom Index Systems LLC bought a new position in shares of Urban Edge Properties during the second quarter valued at $259,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI increased their price target on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 16th.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $21.09 on Friday. The company has a market capitalization of $2.51 billion, a PE ratio of 9.17 and a beta of 1.55. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.19. Urban Edge Properties has a twelve month low of $14.36 and a twelve month high of $21.66. The firm has a fifty day simple moving average of $20.46 and a 200 day simple moving average of $18.46.

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

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.22%. 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.