Retirement Systems of Alabama Reduces Stake in Urban Edge Properties (NYSE:UE)

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Retirement Systems of Alabama reduced its position in Urban Edge Properties (NYSE:UE) by 4.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 149,635 shares of the real estate investment trust’s stock after selling 6,977 shares during the period. Retirement Systems of Alabama owned approximately 0.12% of Urban Edge Properties worth $2,961,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC purchased a new position in Urban Edge Properties during the third quarter valued at $67,000. Russell Investments Group Ltd. purchased a new position in Urban Edge Properties during the second quarter valued at $184,000. Dupont Capital Management Corp lifted its position in Urban Edge Properties by 10.2% during the third quarter. Dupont Capital Management Corp now owns 11,773 shares of the real estate investment trust’s stock valued at $233,000 after purchasing an additional 1,093 shares in the last quarter. Westwood Holdings Group Inc. purchased a new position in Urban Edge Properties during the second quarter valued at $254,000. Finally, Fox Run Management L.L.C. purchased a new position in Urban Edge Properties during the third quarter valued at $297,000. Hedge funds and other institutional investors own 86.96% of the company’s stock.

Several equities analysts recently weighed in on the company. Zacks Investment Research upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, August 20th. ValuEngine upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Finally, Compass Point assumed coverage on Urban Edge Properties in a research report on Thursday, August 15th. They set a “buy” rating and a $20.00 target price on the stock.

NYSE UE opened at $20.69 on Friday. The company has a market capitalization of $2.60 billion, a PE ratio of 15.79 and a beta of 0.88. The company has a debt-to-equity ratio of 1.49, a quick ratio of 7.97 and a current ratio of 7.97. The business’s fifty day moving average is $20.29 and its 200 day moving average is $18.34. Urban Edge Properties has a fifty-two week low of $15.96 and a fifty-two week high of $21.74.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.15. The company had revenue of $91.24 million for the quarter, compared to the consensus estimate of $94.02 million. Urban Edge Properties had a return on equity of 11.11% and a net margin of 28.69%. On average, sell-side analysts forecast that Urban Edge Properties will post 1.19 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be given a $0.22 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.88 annualized dividend and a dividend yield of 4.25%. Urban Edge Properties’s payout ratio is 67.18%.

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 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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