Citadel Advisors LLC lessened its holdings in Urban Edge Properties (NYSE:UE) by 75.0% during the second quarter, Holdings Channel reports. The institutional investor owned 36,506 shares of the real estate investment trust’s stock after selling 109,688 shares during the quarter. Citadel Advisors LLC’s holdings in Urban Edge Properties were worth $835,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Urban Edge Properties in the second quarter valued at approximately $299,000. Koch Industries Inc. purchased a new position in Urban Edge Properties in the first quarter valued at approximately $303,000. Xact Kapitalforvaltning AB lifted its stake in Urban Edge Properties by 42.8% in the first quarter. Xact Kapitalforvaltning AB now owns 16,690 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 5,000 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in Urban Edge Properties in the second quarter valued at approximately $447,000. Finally, GSA Capital Partners LLP purchased a new position in Urban Edge Properties in the first quarter valued at approximately $427,000. Hedge funds and other institutional investors own 86.23% of the company’s stock.
Urban Edge Properties stock opened at $22.01 on Friday. Urban Edge Properties has a 12 month low of $19.51 and a 12 month high of $26.19. The company has a current ratio of 7.69, a quick ratio of 7.69 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $2.56 billion, a P/E ratio of 16.43 and a beta of 0.50.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.22 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.88 annualized dividend and a yield of 4.00%. Urban Edge Properties’s payout ratio is 65.67%.
Separately, Zacks Investment Research downgraded Urban Edge Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st.
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 88 properties totaling 16.3 million square feet of gross leasable area.
Further Reading: Market Capitalization
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