Urban Edge Properties (NYSE:UE) Position Boosted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in shares of Urban Edge Properties (NYSE:UE) by 8.5% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 65,475 shares of the real estate investment trust’s stock after purchasing an additional 5,149 shares during the period. The Manufacturers Life Insurance Company’s holdings in Urban Edge Properties were worth $1,209,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its stake in Urban Edge Properties by 20.2% during the fourth quarter. Goldman Sachs Group Inc. now owns 939,179 shares of the real estate investment trust’s stock valued at $17,187,000 after buying an additional 157,792 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Urban Edge Properties during the fourth quarter valued at about $272,000. Allspring Global Investments Holdings LLC lifted its stake in Urban Edge Properties by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 25,342 shares of the real estate investment trust’s stock valued at $438,000 after buying an additional 2,135 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in Urban Edge Properties by 36.9% during the first quarter. BNP Paribas Financial Markets now owns 61,209 shares of the real estate investment trust’s stock valued at $1,057,000 after buying an additional 16,493 shares in the last quarter. Finally, Daiwa Securities Group Inc. lifted its stake in Urban Edge Properties by 19.6% during the first quarter. Daiwa Securities Group Inc. now owns 42,704 shares of the real estate investment trust’s stock valued at $738,000 after buying an additional 7,012 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on UE shares. Evercore ISI upped 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 research note on Monday, September 16th. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

Urban Edge Properties Price Performance

NYSE UE opened at $21.24 on Friday. The company has a 50 day simple moving average of $20.71 and a 200-day simple moving average of $18.78. 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 $2.58 billion, a price-to-earnings ratio of 8.60 and a beta of 1.55. Urban Edge Properties has a 52-week low of $14.36 and a 52-week high of $21.66.

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

Urban Edge Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Friday, September 13th. Urban Edge Properties’s payout ratio is presently 27.53%.

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.