Resolution Capital Ltd Raises Stock Position in Urban Edge Properties $UE

Resolution Capital Ltd grew its stake in Urban Edge Properties (NYSE:UE) by 74.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,940,938 shares of the real estate investment trust’s stock after buying an additional 1,677,531 shares during the period. Urban Edge Properties accounts for 1.7% of Resolution Capital Ltd’s investment portfolio, making the stock its 16th largest holding. Resolution Capital Ltd owned about 3.13% of Urban Edge Properties worth $78,740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of UE. EverSource Wealth Advisors LLC raised its stake in Urban Edge Properties by 426.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,071 shares in the last quarter. Global Retirement Partners LLC boosted its stake in Urban Edge Properties by 2,108.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust’s stock valued at $26,000 after acquiring an additional 1,307 shares in the last quarter. CIBC Private Wealth Group LLC acquired a new position in Urban Edge Properties in the third quarter valued at $52,000. State of Wyoming purchased a new position in shares of Urban Edge Properties during the first quarter worth about $66,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Urban Edge Properties by 33.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 922 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 161,553 shares of the business’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.73, for a total value of $3,510,546.69. Following the transaction, the chief executive officer owned 22,699 shares of the company’s stock, valued at approximately $493,249.27. The trade was a 87.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.70% of the company’s stock.

Urban Edge Properties Price Performance

Shares of UE opened at $23.14 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.08 and a current ratio of 2.08. Urban Edge Properties has a fifty-two week low of $18.46 and a fifty-two week high of $24.11. The firm has a 50-day simple moving average of $22.88 and a 200-day simple moving average of $21.41. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 26.91 and a beta of 0.97.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.06. The firm had revenue of $132.62 million for the quarter, compared to analysts’ expectations of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%. On average, equities research analysts anticipate that Urban Edge Properties will post 1.49 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, June 15th. Urban Edge Properties’s dividend payout ratio (DPR) is 97.67%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings raised Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, April 29th. BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Urban Edge Properties in a research note on Friday, June 12th. Finally, UBS Group raised their target price on shares of Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.20.

Urban Edge Properties Company Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.