Rhumbline Advisers Sells 1,021 Shares of Urban Edge Properties (NYSE:UE)

Rhumbline Advisers lessened its holdings in Urban Edge Properties (NYSE:UE) by 0.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 395,227 shares of the real estate investment trust’s stock after selling 1,021 shares during the quarter. Rhumbline Advisers’ holdings in Urban Edge Properties were worth $8,497,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. USA Financial Formulas bought a new stake in Urban Edge Properties in the fourth quarter valued at about $93,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Urban Edge Properties by 36.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,221 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Urban Edge Properties in the 3rd quarter valued at approximately $101,000. KBC Group NV boosted its stake in Urban Edge Properties by 42.1% during the 4th quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 1,524 shares during the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in Urban Edge Properties during the third quarter valued at approximately $206,000. Institutional investors own 94.94% of the company’s stock.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value of $5,388,000.00. Following the sale, the chief executive officer now directly owns 1,931 shares in the company, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.30% of the stock is owned by insiders.

Urban Edge Properties Price Performance

NYSE UE opened at $20.31 on Tuesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 34.43 and a beta of 1.54. The business has a 50 day simple moving average of $20.69 and a 200 day simple moving average of $21.36. Urban Edge Properties has a 52-week low of $15.81 and a 52-week high of $23.85.

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

Urban Edge Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.74%. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, March 14th. Urban Edge Properties’s payout ratio is 128.81%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on UE shares. StockNews.com lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Evercore ISI decreased their target price on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th.

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.