Deutsche Bank AG acquired a new stake in Urban Edge Properties (NYSE:UE – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 185,986 shares of the real estate investment trust’s stock, valued at approximately $4,255,000.
Several other hedge funds and other institutional investors have also recently modified their holdings of UE. Wellington Management Group LLP purchased a new stake in shares of Urban Edge Properties during the third quarter worth about $92,600,000. Jennison Associates LLC increased its holdings in Urban Edge Properties by 72.2% during the 1st quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust’s stock valued at $91,613,000 after purchasing an additional 1,923,202 shares during the period. Resolution Capital Ltd increased its holdings in Urban Edge Properties by 74.1% during the 1st quarter. Resolution Capital Ltd now owns 3,940,938 shares of the real estate investment trust’s stock valued at $78,740,000 after purchasing an additional 1,677,531 shares during the period. Bank of New York Mellon Corp bought a new position in Urban Edge Properties during the 2nd quarter valued at approximately $25,152,000. Finally, Balyasny Asset Management L.P. bought a new position in Urban Edge Properties during the 4th quarter valued at approximately $16,858,000. 94.94% of the stock is owned by institutional investors.
Urban Edge Properties Stock Performance
Urban Edge Properties stock opened at $21.70 on Wednesday. The stock’s 50 day simple moving average is $22.56 and its two-hundred day simple moving average is $21.80. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market cap of $2.74 billion, a price-to-earnings ratio of 40.18 and a beta of 0.98. Urban Edge Properties has a fifty-two week low of $18.46 and a fifty-two week high of $24.11.
Urban Edge Properties Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Urban Edge Properties’s dividend payout ratio is presently 155.56%.
Wall Street Analysts Forecast Growth
UE has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. BTIG Research reissued a “buy” rating and set a $25.00 price objective on shares of Urban Edge Properties in a research report on Friday, June 12th. Finally, Weiss Ratings lowered shares of Urban Edge Properties from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $23.20.
Read Our Latest Analysis on Urban Edge Properties
Urban Edge Properties 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.
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