American Century Companies Inc. Grows Stock Position in Urban Edge Properties (NYSE:UE)

American Century Companies Inc. raised its holdings in Urban Edge Properties (NYSE:UE) by 48.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 1,406,251 shares of the real estate investment trust’s stock after acquiring an additional 458,951 shares during the quarter. American Century Companies Inc.’s holdings in Urban Edge Properties were worth $25,973,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in UE. Vanguard Personalized Indexing Management LLC purchased a new stake in Urban Edge Properties in the fourth quarter valued at about $183,000. Quadrant Capital Group LLC raised its stake in shares of Urban Edge Properties by 34.3% in the fourth quarter. Quadrant Capital Group LLC now owns 4,548 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,162 shares during the last quarter. Norges Bank purchased a new position in shares of Urban Edge Properties in the fourth quarter worth about $14,894,000. Hsbc Holdings PLC raised its stake in shares of Urban Edge Properties by 11.4% in the fourth quarter. Hsbc Holdings PLC now owns 65,060 shares of the real estate investment trust’s stock worth $1,191,000 after purchasing an additional 6,672 shares during the last quarter. Finally, Evoke Wealth LLC purchased a new position in shares of Urban Edge Properties in the fourth quarter worth about $1,106,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on UE. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Monday.

Urban Edge Properties Price Performance

Urban Edge Properties stock opened at $21.24 on Thursday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 9.23 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. The business’s 50-day moving average price is $20.17 and its 200 day moving average price is $18.25. 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 (NYSE:UE) last posted 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). The company had revenue of $106.36 million for the quarter, compared to analyst estimates of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. As a group, sell-side analysts anticipate 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. Investors of record on Friday, September 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 3.20%. The ex-dividend date is Friday, September 13th. Urban Edge Properties’s dividend payout ratio (DPR) is 29.57%.

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.