Sumitomo Mitsui DS Asset Management Company Ltd Acquires 5,220 Shares of Urban Edge Properties (NYSE:UE)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Urban Edge Properties (NYSE:UE) by 25.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,622 shares of the real estate investment trust’s stock after purchasing an additional 5,220 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Urban Edge Properties were worth $551,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Urban Edge Properties by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 563 shares during the period. USA Financial Formulas acquired a new stake in shares of Urban Edge Properties in the 4th quarter valued at approximately $93,000. Mirae Asset Global Investments Co. Ltd. raised its position 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 period. Quest Partners LLC acquired a new stake in shares of Urban Edge Properties in the 3rd quarter valued at approximately $101,000. Finally, KBC Group NV raised its position in shares of Urban Edge Properties by 42.1% in the 4th quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust’s stock valued at $111,000 after acquiring an additional 1,524 shares during the period. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Price Performance

NYSE UE opened at $21.20 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The company has a market capitalization of $2.65 billion, a PE ratio of 9.51 and a beta of 1.54. The firm’s 50 day moving average is $21.02 and its 200-day moving average is $21.31.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. Equities research analysts anticipate that Urban Edge Properties will post 1.35 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.19 dividend. The ex-dividend date is Friday, March 14th. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 3.58%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 30.49%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI cut their price target on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th.

Insider Activity at Urban Edge Properties

In related news, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the completion of the sale, the chief executive officer now owns 1,931 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. 3.10% of the stock is owned by company insiders.

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.