Manning & Napier Group LLC Sells 4,960 Shares of Urban Edge Properties (NYSE:UE)

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Manning & Napier Group LLC lessened its stake in shares of Urban Edge Properties (NYSE:UE) by 1.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 250,600 shares of the real estate investment trust’s stock after selling 4,960 shares during the quarter. Manning & Napier Group LLC’s holdings in Urban Edge Properties were worth $4,958,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Urban Edge Properties by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 17,088,622 shares of the real estate investment trust’s stock worth $296,145,000 after acquiring an additional 282,263 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Urban Edge Properties by 2.0% during the 2nd quarter. BlackRock Inc. now owns 16,530,870 shares of the real estate investment trust’s stock worth $286,481,000 after acquiring an additional 320,334 shares in the last quarter. Cohen & Steers Inc. boosted its stake in shares of Urban Edge Properties by 23.5% during the 2nd quarter. Cohen & Steers Inc. now owns 12,762,920 shares of the real estate investment trust’s stock worth $221,181,000 after acquiring an additional 2,432,263 shares in the last quarter. FMR LLC boosted its stake in shares of Urban Edge Properties by 11.9% during the 1st quarter. FMR LLC now owns 6,011,837 shares of the real estate investment trust’s stock worth $114,225,000 after acquiring an additional 641,015 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Urban Edge Properties by 9.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,026,731 shares of the real estate investment trust’s stock worth $52,453,000 after acquiring an additional 255,577 shares in the last quarter. Institutional investors own 86.93% of the company’s stock.

NYSE UE opened at $19.78 on Friday. Urban Edge Properties has a twelve month low of $15.96 and a twelve month high of $21.31. The company has a debt-to-equity ratio of 1.53, a quick ratio of 6.74 and a current ratio of 6.74. The stock has a market capitalization of $2.35 billion, a PE ratio of 15.66 and a beta of 0.87. The stock has a 50-day simple moving average of $18.94 and a 200 day simple moving average of $18.08.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.08). Urban Edge Properties had a return on equity of 8.19% and a net margin of 20.02%. The business had revenue of $102.75 million for the quarter, compared to analyst estimates of $97.44 million. As a group, equities research analysts forecast that Urban Edge Properties will post 1.19 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, September 12th. This represents a $0.88 annualized dividend and a dividend yield of 4.45%. Urban Edge Properties’s dividend payout ratio is presently 67.18%.

Several research firms have recently issued reports on UE. ValuEngine upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, September 6th. Compass Point initiated coverage on Urban Edge Properties in a research note on Thursday, August 15th. They set a “buy” rating and a $20.00 price target for the company. Finally, Zacks Investment Research raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th.

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 87 properties totaling 16.1 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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