Sumitomo Mitsui Trust Holdings Inc. Reduces Stake in Urban Edge Properties (NYSE:UE)

Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Urban Edge Properties (NYSE:UE) by 24.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 138,806 shares of the real estate investment trust’s stock after selling 44,168 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.12% of Urban Edge Properties worth $2,540,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in UE. Vestmark Advisory Solutions Inc. purchased a new stake in Urban Edge Properties in the 3rd quarter valued at $174,000. Oppenheimer Asset Management Inc. grew its holdings in shares of 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 during the period. Pathstone Family Office LLC grew its holdings in shares of 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 during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Urban Edge Properties during the 3rd quarter worth $270,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Urban Edge Properties during the 3rd quarter worth $310,000. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Urban Edge Properties

In related news, General Counsel Robert C. Milton III sold 26,333 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $17.02, for a total transaction of $448,187.66. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.30% of the company’s stock.

Urban Edge Properties Stock Performance

NYSE UE opened at $16.73 on Thursday. The stock has a market cap of $1.99 billion, a PE ratio of 7.89 and a beta of 1.49. The company has a current ratio of 2.42, a quick ratio of 2.42 and a debt-to-equity ratio of 1.29. Urban Edge Properties has a twelve month low of $13.13 and a twelve month high of $18.79. The stock has a fifty day simple moving average of $16.80 and a 200-day simple moving average of $16.94.

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

Urban Edge Properties Increases Dividend

The firm 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. The ex-dividend date of this dividend was Thursday, March 14th. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 4.07%. Urban Edge Properties’s dividend payout ratio is currently 32.08%.

Urban Edge Properties 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.