Public Sector Pension Investment Board Sells 4,000 Shares of Urban Edge Properties (NYSE:UE)

Public Sector Pension Investment Board cut its stake in Urban Edge Properties (NYSE:UE) by 1.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 257,455 shares of the real estate investment trust’s stock after selling 4,000 shares during the quarter. Public Sector Pension Investment Board owned 0.21% of Urban Edge Properties worth $5,507,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of UE. FMR LLC grew its position in shares of Urban Edge Properties by 8.6% in the 3rd quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust’s stock valued at $297,568,000 after purchasing an additional 1,096,560 shares during the period. Jennison Associates LLC increased its holdings in Urban Edge Properties by 7.8% during the 3rd quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust’s stock worth $63,443,000 after purchasing an additional 215,879 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Urban Edge Properties by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,271,201 shares of the real estate investment trust’s stock valued at $48,581,000 after purchasing an additional 101,111 shares during the period. Dimensional Fund Advisors LP lifted its stake in Urban Edge Properties by 7.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,757,044 shares of the real estate investment trust’s stock valued at $32,452,000 after acquiring an additional 117,152 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in Urban Edge Properties by 48.4% during the 2nd quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock worth $25,973,000 after acquiring an additional 458,951 shares during the last quarter. 94.94% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Evercore ISI lifted their price target 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.

Insiders Place Their Bets

In related news, CFO Mark Langer sold 93,962 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now owns 35,816 shares of the company’s stock, valued at $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 3.10% of the company’s stock.

Urban Edge Properties Stock Performance

Shares of UE stock opened at $23.01 on Monday. Urban Edge Properties has a one year low of $15.81 and a one year high of $23.85. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The stock has a market cap of $2.87 billion, a P/E ratio of 10.32 and a beta of 1.54. The company has a fifty day moving average price of $22.20 and a two-hundred day moving average price of $20.23.

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

Urban Edge Properties Dividend Announcement

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

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.