Westwood Holdings Group Inc. purchased a new stake in Urban Edge Properties (NYSE:UE) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 14,630 shares of the real estate investment trust’s stock, valued at approximately $254,000.
Other institutional investors have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc raised its holdings in Urban Edge Properties by 98.9% in the 1st quarter. NumerixS Investment Technologies Inc now owns 9,346 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 4,646 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in Urban Edge Properties in the 2nd quarter valued at approximately $184,000. Pictet Asset Management Ltd. raised its holdings in Urban Edge Properties by 32.4% in the 1st quarter. Pictet Asset Management Ltd. now owns 19,200 shares of the real estate investment trust’s stock valued at $365,000 after acquiring an additional 4,700 shares in the last quarter. Profund Advisors LLC raised its holdings in Urban Edge Properties by 8.9% in the 2nd quarter. Profund Advisors LLC now owns 20,129 shares of the real estate investment trust’s stock valued at $349,000 after acquiring an additional 1,643 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Urban Edge Properties by 5.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 21,930 shares of the real estate investment trust’s stock valued at $380,000 after acquiring an additional 1,090 shares in the last quarter. 86.93% of the stock is owned by hedge funds and other institutional investors.
Shares of UE traded down $0.14 during mid-day trading on Tuesday, reaching $19.29. The company had a trading volume of 41,007 shares, compared to its average volume of 1,015,729. Urban Edge Properties has a twelve month low of $15.96 and a twelve month high of $22.15. The company has a debt-to-equity ratio of 1.53, a current ratio of 6.74 and a quick ratio of 6.74. The company’s 50-day moving average is $17.93 and its 200-day moving average is $18.00. The company has a market capitalization of $2.36 billion, a P/E ratio of 14.73 and a beta of 0.85.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be issued a $0.22 dividend. The ex-dividend date is Thursday, September 12th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.56%. Urban Edge Properties’s payout ratio is presently 67.18%.
Several equities analysts have commented on the company. ValuEngine raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Zacks Investment Research raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Tuesday, August 20th. Finally, Compass Point initiated coverage on Urban Edge Properties in a report on Thursday, August 15th. They issued a “buy” rating and a $20.00 target price for the company.
Urban Edge Properties Profile
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 87 properties totaling 16.1 million square feet of gross leasable area.
Further Reading: Trading Stocks – What are percentage gainers?
Want to see what other hedge funds are holding UE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Urban Edge Properties (NYSE:UE).
Receive News & Ratings for Urban Edge Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Edge Properties and related companies with MarketBeat.com's FREE daily email newsletter.