JPMorgan Chase & Co. Increases Stock Holdings in Urban Edge Properties (NYSE:UE)

JPMorgan Chase & Co. lifted its position in shares of Urban Edge Properties (NYSE:UE) by 28.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 860,064 shares of the real estate investment trust’s stock after buying an additional 188,130 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.69% of Urban Edge Properties worth $18,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its holdings in Urban Edge Properties by 1,499.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust’s stock valued at $34,216,000 after buying an additional 1,499,628 shares during the last quarter. Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of Urban Edge Properties by 718.6% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 447,487 shares of the real estate investment trust’s stock valued at $9,621,000 after acquiring an additional 392,820 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Urban Edge Properties by 19.4% during the fourth quarter. American Century Companies Inc. now owns 1,789,168 shares of the real estate investment trust’s stock valued at $38,467,000 after acquiring an additional 291,125 shares during the last quarter. Vanguard Group Inc. increased its position in Urban Edge Properties by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 19,962,196 shares of the real estate investment trust’s stock worth $429,187,000 after purchasing an additional 213,478 shares in the last quarter. Finally, Jennison Associates LLC raised its stake in Urban Edge Properties by 6.9% in the 4th quarter. Jennison Associates LLC now owns 3,169,598 shares of the real estate investment trust’s stock valued at $68,146,000 after purchasing an additional 203,569 shares during the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on UE shares. Evercore ISI lowered their price target on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a report on Tuesday, December 24th. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Thursday, March 20th.

Urban Edge Properties Stock Down 0.1 %

Shares of NYSE UE opened at $16.94 on Friday. The stock has a fifty day moving average price of $19.31 and a 200 day moving average price of $20.88. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.15. Urban Edge Properties has a 12-month low of $15.66 and a 12-month high of $23.85. The company has a market cap of $2.13 billion, a P/E ratio of 28.71 and a beta of 1.28.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, topping 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%. Research analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.19 per share. The ex-dividend date was Friday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.49%. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. Urban Edge Properties’s dividend payout ratio (DPR) is currently 128.81%.

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.