Illinois Municipal Retirement Fund Raises Holdings in Urban Edge Properties (NYSE:UE)

Illinois Municipal Retirement Fund lifted its holdings in shares of Urban Edge Properties (NYSE:UE) by 6.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,314 shares of the real estate investment trust’s stock after buying an additional 4,006 shares during the period. Illinois Municipal Retirement Fund owned about 0.05% of Urban Edge Properties worth $1,426,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. USA Financial Formulas purchased a new position in shares of Urban Edge Properties during the 4th quarter worth approximately $93,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 purchasing an additional 1,221 shares in the last quarter. Quest Partners LLC purchased a new position in Urban Edge Properties in the 3rd quarter valued at approximately $101,000. KBC Group NV increased its stake in Urban Edge Properties by 42.1% in the 4th quarter. KBC Group NV now owns 5,141 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 1,524 shares in the last quarter. Finally, Coldstream Capital Management Inc. purchased a new position in Urban Edge Properties in the 3rd quarter valued at approximately $206,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Urban Edge Properties

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 240,000 shares of the stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the sale, the chief executive officer now owns 1,931 shares in the company, valued at approximately $43,350.95. This represents a 99.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is owned by insiders.

Urban Edge Properties Stock Performance

NYSE UE opened at $20.61 on Friday. The business has a 50 day moving average price of $20.60 and a 200 day moving average price of $21.37. The company has a market capitalization of $2.59 billion, a P/E ratio of 34.94 and a beta of 1.54. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Sell-side analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date of this dividend is Friday, March 14th. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.17. Urban Edge Properties’s dividend payout ratio is 128.81%.

Wall Street Analyst Weigh In

UE has been the subject of several research analyst reports. Evercore ISI dropped their price objective on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, February 25th.

Urban Edge Properties Company 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.