Vestcor Inc Purchases 101,206 Shares of Urban Edge Properties (NYSE:UE)

Vestcor Inc lifted its position in shares of Urban Edge Properties (NYSE:UE) by 1,837.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 106,713 shares of the real estate investment trust’s stock after acquiring an additional 101,206 shares during the period. Vestcor Inc’s holdings in Urban Edge Properties were worth $2,283,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in UE. GAMMA Investing LLC increased its position in Urban Edge Properties by 25.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 563 shares in the last quarter. IFM Investors Pty Ltd increased its position in Urban Edge Properties by 2.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 28,231 shares of the real estate investment trust’s stock valued at $604,000 after acquiring an additional 584 shares during the period. Arizona State Retirement System increased its position in Urban Edge Properties by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 32,958 shares of the real estate investment trust’s stock valued at $609,000 after acquiring an additional 627 shares during the period. Mackenzie Financial Corp increased its position in Urban Edge Properties by 7.4% in the 2nd quarter. Mackenzie Financial Corp now owns 11,978 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 822 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Urban Edge Properties by 36.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,221 shares during the period. Institutional investors own 94.94% of the company’s stock.

Insider Activity

In other news, CFO Mark Langer sold 93,962 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total value of $2,214,684.34. Following the completion of the sale, the chief financial officer now owns 35,816 shares in the company, valued at $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

Urban Edge Properties Stock Down 0.6 %

Shares of NYSE UE opened at $22.50 on Wednesday. The firm has a market cap of $2.81 billion, a PE ratio of 10.09 and a beta of 1.53. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The company’s fifty day simple moving average is $22.41 and its 200 day simple moving average is $20.51. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. The firm had revenue of $112.26 million for the quarter. As a group, sell-side analysts forecast that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.02%. Urban Edge Properties’s dividend payout ratio is currently 30.49%.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI upped their price target on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.

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.