Vestcor Inc Acquires 3,849 Shares of Urban Edge Properties (NYSE:UE)

Vestcor Inc raised its holdings in shares of Urban Edge Properties (NYSE:UE) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 110,562 shares of the real estate investment trust’s stock after buying an additional 3,849 shares during the period. Vestcor Inc’s holdings in Urban Edge Properties were worth $2,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in UE. Daiwa Securities Group Inc. raised its position in shares of Urban Edge Properties by 1.6% in the fourth quarter. Daiwa Securities Group Inc. now owns 41,057 shares of the real estate investment trust’s stock valued at $883,000 after purchasing an additional 659 shares during the period. Amalgamated Bank grew its stake in Urban Edge Properties by 2.0% in the 4th quarter. Amalgamated Bank now owns 36,272 shares of the real estate investment trust’s stock valued at $780,000 after buying an additional 724 shares during the last quarter. Oregon Public Employees Retirement Fund raised its holdings in Urban Edge Properties by 2.8% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,384 shares of the real estate investment trust’s stock valued at $632,000 after acquiring an additional 800 shares during the period. Arizona State Retirement System lifted its position in Urban Edge Properties by 2.9% during the fourth quarter. Arizona State Retirement System now owns 35,213 shares of the real estate investment trust’s stock worth $757,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Urban Edge Properties by 76.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust’s stock worth $50,000 after acquiring an additional 1,029 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Urban Edge Properties Stock Performance

NYSE UE opened at $18.47 on Friday. The firm has a 50-day moving average price of $20.27 and a two-hundred day moving average price of $21.33. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The company has a market capitalization of $2.32 billion, a P/E ratio of 31.31 and a beta of 1.54. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.19 per share. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend is Friday, March 14th. Urban Edge Properties’s dividend payout ratio is 128.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on UE shares. Evercore ISI decreased their target price on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th. StockNews.com cut Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Wednesday.

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.