Jennison Associates LLC Purchases 996,287 Shares of Urban Edge Properties (NYSE:UE)

Jennison Associates LLC grew its holdings in shares of Urban Edge Properties (NYSE:UEFree Report) by 98.6% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,006,915 shares of the real estate investment trust’s stock after buying an additional 996,287 shares during the quarter. Jennison Associates LLC’s holdings in Urban Edge Properties were worth $34,659,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of UE. Charles Schwab Investment Management Inc. boosted its holdings in Urban Edge Properties by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,132,349 shares of the real estate investment trust’s stock valued at $39,022,000 after acquiring an additional 41,478 shares during the period. American Century Companies Inc. boosted its stake in shares of Urban Edge Properties by 52.2% during the third quarter. American Century Companies Inc. now owns 1,599,058 shares of the real estate investment trust’s stock valued at $24,402,000 after purchasing an additional 548,193 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Urban Edge Properties by 20.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 939,179 shares of the real estate investment trust’s stock worth $17,187,000 after purchasing an additional 157,792 shares during the last quarter. Norges Bank purchased a new position in Urban Edge Properties in the 4th quarter worth about $14,894,000. Finally, Public Employees Retirement System of Ohio lifted its holdings in Urban Edge Properties by 1.7% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 404,757 shares of the real estate investment trust’s stock valued at $6,177,000 after buying an additional 6,957 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

Shares of UE stock opened at $18.22 on Wednesday. Urban Edge Properties has a twelve month low of $14.36 and a twelve month high of $18.79. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 1.25. The stock has a fifty day simple moving average of $17.63 and a two-hundred day simple moving average of $17.35. The stock has a market capitalization of $2.16 billion, a price-to-earnings ratio of 7.92 and a beta of 1.54.

Urban Edge Properties (NYSE:UEGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.28). The business had revenue of $109.63 million during the quarter, compared to the consensus estimate of $106.38 million. Urban Edge Properties had a net margin of 63.27% and a return on equity of 24.36%. On average, analysts predict that Urban Edge Properties will post 1.27 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend was Friday, June 14th. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Thursday, July 4th.

View Our Latest Stock Analysis on UE

About Urban Edge Properties

(Free Report)

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.

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Institutional Ownership by Quarter for Urban Edge Properties (NYSE:UE)

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