Allianz Asset Management GmbH Invests $2.37 Million in Urban Edge Properties (NYSE:UE)

Allianz Asset Management GmbH acquired a new position in shares of Urban Edge Properties (NYSE:UE) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 124,882 shares of the real estate investment trust’s stock, valued at approximately $2,373,000. Allianz Asset Management GmbH owned 0.10% of Urban Edge Properties as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC boosted its position in shares of Urban Edge Properties by 0.7% during the 1st quarter. Jennison Associates LLC now owns 3,193,048 shares of the real estate investment trust’s stock valued at $60,668,000 after acquiring an additional 23,450 shares in the last quarter. Bailard Inc. boosted its position in shares of Urban Edge Properties by 90.6% during the 1st quarter. Bailard Inc. now owns 38,700 shares of the real estate investment trust’s stock valued at $735,000 after acquiring an additional 18,400 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Urban Edge Properties during the 1st quarter valued at about $262,000. Massachusetts Financial Services Co. MA boosted its position in shares of Urban Edge Properties by 7.7% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 1,382,396 shares of the real estate investment trust’s stock valued at $26,266,000 after acquiring an additional 99,427 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Urban Edge Properties during the 1st quarter valued at about $1,906,000. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

NYSE:UE opened at $20.04 on Thursday. The firm has a market cap of $2.52 billion, a PE ratio of 31.31 and a beta of 1.18. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The company has a quick ratio of 2.29, a current ratio of 2.29 and a debt-to-equity ratio of 1.16. The company’s 50-day moving average price is $18.74 and its two-hundred day moving average price is $19.04.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $118.17 million for the quarter, compared to analyst estimates of $119.05 million. Urban Edge Properties had a net margin of 17.23% and a return on equity of 5.88%. On average, equities analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.79%. The ex-dividend date was Friday, June 13th. Urban Edge Properties’s dividend payout ratio is presently 118.75%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Friday, July 18th.

Insider Buying and Selling at Urban Edge Properties

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of the business’s stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $18.78, for a total value of $488,280.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.40% of the company’s stock.

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.