Retirement Systems of Alabama lessened its holdings in Urban Edge Properties (NYSE:UE) by 56.6% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 137,204 shares of the real estate investment trust’s stock after selling 178,934 shares during the period. Retirement Systems of Alabama owned about 0.12% of Urban Edge Properties worth $3,138,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Advisor Group Inc. boosted its stake in Urban Edge Properties by 415.5% in the fourth quarter. Advisor Group Inc. now owns 4,841 shares of the real estate investment trust’s stock worth $124,000 after purchasing an additional 3,902 shares in the last quarter. Guggenheim Capital LLC boosted its stake in Urban Edge Properties by 10.7% in the fourth quarter. Guggenheim Capital LLC now owns 103,794 shares of the real estate investment trust’s stock worth $2,647,000 after purchasing an additional 10,070 shares in the last quarter. Two Sigma Investments LP acquired a new position in Urban Edge Properties in the fourth quarter worth $1,035,000. California State Teachers Retirement System boosted its stake in Urban Edge Properties by 4.2% in the fourth quarter. California State Teachers Retirement System now owns 163,070 shares of the real estate investment trust’s stock worth $4,157,000 after purchasing an additional 6,504 shares in the last quarter. Finally, Elkfork Partners LLC acquired a new position in Urban Edge Properties in the fourth quarter worth $263,000. 90.68% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on the company. Zacks Investment Research raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, June 8th. ValuEngine downgraded Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd.
Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.13. The company had revenue of $101.97 million during the quarter, compared to the consensus estimate of $98.47 million. Urban Edge Properties had a return on equity of 7.67% and a net margin of 19.70%. equities research analysts predict that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 14th will be given a dividend of $0.22 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.95%. Urban Edge Properties’s payout ratio is currently 65.67%.
Urban Edge Properties Company Profile
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 88 properties totaling 16.3 million square feet of gross leasable area.
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