Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Urban Edge Properties (NYSE:UE)

Connor Clark & Lunn Investment Management Ltd. bought a new position in Urban Edge Properties (NYSE:UE) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,417 shares of the real estate investment trust’s stock, valued at approximately $565,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 Hong Kong Ltd bought a new position in shares of Urban Edge Properties during the 2nd quarter worth about $50,000. Signaturefd LLC lifted its holdings 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 acquiring an additional 1,317 shares during the period. GAMMA Investing LLC boosted its position in Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in shares of Urban Edge Properties in the third quarter valued at $101,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Trading Down 1.3 %

UE opened at $23.01 on Friday. The firm’s fifty day simple moving average is $22.16 and its 200 day simple moving average is $20.17. The stock has a market capitalization of $2.87 billion, a P/E ratio of 10.32 and a beta of 1.54. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85.

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

Urban Edge Properties Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on UE shares. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. 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 note on Monday, September 16th.

Insiders Place Their Bets

In other news, CFO Mark Langer sold 93,962 shares of the business’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 of the company’s stock, valued at approximately $844,183.12. The trade was a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.10% of the company’s stock.

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.