Great West Life Assurance Co. Can boosted its stake in Urban Edge Properties (NYSE:UE) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 145,835 shares of the real estate investment trust’s stock after purchasing an additional 2,371 shares during the quarter. Great West Life Assurance Co. Can owned about 0.12% of Urban Edge Properties worth $2,770,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Balasa Dinverno & Foltz LLC bought a new position in Urban Edge Properties during the 4th quarter valued at about $31,000. Oregon Public Employees Retirement Fund grew its holdings in Urban Edge Properties by 1,703.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 754,166 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 712,358 shares during the last quarter. Pearl River Capital LLC grew its holdings in Urban Edge Properties by 380.0% during the 1st quarter. Pearl River Capital LLC now owns 2,400 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,900 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Urban Edge Properties by 44.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 1,282 shares during the last quarter. Finally, Quadrant Capital Group LLC bought a new position in Urban Edge Properties during the 1st quarter valued at about $73,000. Institutional investors and hedge funds own 88.92% of the company’s stock.
Shares of UE traded up $0.01 during mid-day trading on Friday, hitting $17.33. The company’s stock had a trading volume of 2,341,100 shares, compared to its average volume of 812,800. Urban Edge Properties has a 52-week low of $16.13 and a 52-week high of $23.37. The company has a 50-day moving average price of $17.79. The company has a quick ratio of 6.66, a current ratio of 6.66 and a debt-to-equity ratio of 1.54. The company has a market cap of $2.05 billion, a price-to-earnings ratio of 13.23 and a beta of 0.92.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.88 dividend on an annualized basis and a yield of 5.08%. Urban Edge Properties’s payout ratio is 67.18%.
Separately, Zacks Investment Research cut shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Friday, April 12th.
About Urban Edge Properties
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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