1,010,628 Shares in Urban Edge Properties (NYSE:UE) Acquired by Jennison Associates LLC

Jennison Associates LLC bought a new position in shares of Urban Edge Properties (NYSE:UE) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,010,628 shares of the real estate investment trust’s stock, valued at approximately $18,494,000. Jennison Associates LLC owned approximately 0.86% of Urban Edge Properties at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in UE. Federated Hermes Inc. acquired a new position in Urban Edge Properties in the fourth quarter worth approximately $115,000. Vestmark Advisory Solutions Inc. purchased a new position in Urban Edge Properties during the 3rd quarter worth approximately $174,000. Oppenheimer Asset Management Inc. grew its position in Urban Edge Properties by 7.8% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 11,672 shares of the real estate investment trust’s stock worth $178,000 after purchasing an additional 841 shares in the last quarter. Pathstone Family Office LLC grew its position in Urban Edge Properties by 14.6% during the 3rd quarter. Pathstone Family Office LLC now owns 15,550 shares of the real estate investment trust’s stock worth $239,000 after purchasing an additional 1,983 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Urban Edge Properties during the 3rd quarter worth approximately $270,000. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Trading Down 0.8 %

NYSE UE opened at $16.58 on Friday. Urban Edge Properties has a twelve month low of $13.13 and a twelve month high of $18.79. The company has a debt-to-equity ratio of 1.29, a quick ratio of 2.42 and a current ratio of 2.42. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 7.82 and a beta of 1.49. The firm’s 50 day moving average price is $16.79 and its two-hundred day moving average price is $16.93.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, February 14th. The real estate investment trust reported $1.88 earnings per share for the quarter, topping the consensus estimate of $0.31 by $1.57. Urban Edge Properties had a net margin of 59.60% and a return on equity of 23.62%. The firm had revenue of $106.25 million for the quarter. Equities analysts anticipate that Urban Edge Properties will post 1.27 EPS for the current year.

Urban Edge Properties Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.17 per share. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Thursday, March 14th. Urban Edge Properties’s payout ratio is currently 32.08%.

Insider Activity

In other news, General Counsel Robert C. Milton III sold 26,333 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $17.02, for a total transaction of $448,187.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.10% of the stock is currently owned by corporate insiders.

About Urban Edge Properties

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.