Metropolitan Life Insurance Co. NY lifted its holdings in shares of Urban Edge Properties (NYSE:UE) by 3.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 68,872 shares of the real estate investment trust’s stock after acquiring an additional 2,490 shares during the period. Metropolitan Life Insurance Co. NY owned approximately 0.06% of Urban Edge Properties worth $1,575,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Urban Edge Properties during the second quarter worth about $233,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Urban Edge Properties in the second quarter valued at approximately $299,000. Koch Industries Inc. purchased a new stake in Urban Edge Properties in the first quarter valued at approximately $303,000. Xact Kapitalforvaltning AB boosted its position in Urban Edge Properties by 42.8% in the first quarter. Xact Kapitalforvaltning AB now owns 16,690 shares of the real estate investment trust’s stock valued at $356,000 after buying an additional 5,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in Urban Edge Properties in the second quarter valued at approximately $447,000. Institutional investors and hedge funds own 86.22% of the company’s stock.
Separately, Zacks Investment Research lowered Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st.
Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.13. The firm had revenue of $101.97 million for the quarter, compared to analyst estimates of $98.47 million. Urban Edge Properties had a return on equity of 7.67% and a net margin of 19.70%. As a group, research analysts expect that Urban Edge Properties will post 1.32 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 4.38%. Urban Edge Properties’s dividend payout ratio is currently 65.67%.
Urban Edge Properties 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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