Mutual of America Capital Management LLC Reduces Stock Position in Urban Edge Properties (NYSE:UE)

Mutual of America Capital Management LLC lessened its stake in Urban Edge Properties (NYSE:UE) by 17.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 229,860 shares of the real estate investment trust’s stock after selling 49,818 shares during the period. Mutual of America Capital Management LLC’s holdings in Urban Edge Properties were worth $4,942,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in UE. Wellington Management Group LLP boosted its stake in shares of Urban Edge Properties by 1,499.6% in the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust’s stock worth $34,216,000 after buying an additional 1,499,628 shares during the last quarter. FMR LLC lifted its holdings in Urban Edge Properties by 8.6% in the third quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust’s stock valued at $297,568,000 after acquiring an additional 1,096,560 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Urban Edge Properties by 438.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 782,921 shares of the real estate investment trust’s stock valued at $16,747,000 after acquiring an additional 637,587 shares during the period. Jennison Associates LLC boosted its position in Urban Edge Properties by 7.8% in the third quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust’s stock worth $63,443,000 after purchasing an additional 215,879 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Urban Edge Properties by 2.6% during the 3rd quarter. State Street Corp now owns 6,990,363 shares of the real estate investment trust’s stock valued at $149,524,000 after purchasing an additional 177,745 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock opened at $20.19 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.92 and a current ratio of 1.92. The stock’s fifty day moving average is $20.58 and its 200 day moving average is $21.38. The stock has a market cap of $2.53 billion, a P/E ratio of 34.21 and a beta of 1.54. Urban Edge Properties has a one year low of $15.81 and a one year high of $23.85.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, topping the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Sell-side analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.19 dividend. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date of this dividend is Friday, March 14th. Urban Edge Properties’s dividend payout ratio is presently 128.81%.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total value of $5,388,000.00. Following the completion of the transaction, the chief executive officer now owns 1,931 shares of the company’s stock, valued at $43,350.95. This represents a 99.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on UE shares. Evercore ISI lowered their price objective on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. StockNews.com raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Tuesday, February 25th.

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.