Alliancebernstein L.P. reduced its stake in shares of Urban Edge Properties (NYSE:UE) by 18.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 776,646 shares of the real estate investment trust’s stock after selling 177,182 shares during the quarter. Alliancebernstein L.P.’s holdings in Urban Edge Properties were worth $19,797,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Ameritas Investment Partners Inc. grew its stake in Urban Edge Properties by 5.6% during the 3rd quarter. Ameritas Investment Partners Inc. now owns 39,744 shares of the real estate investment trust’s stock worth $999,000 after buying an additional 2,100 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Urban Edge Properties by 2.7% during the 4th quarter. State of Alaska Department of Revenue now owns 82,233 shares of the real estate investment trust’s stock worth $2,095,000 after buying an additional 2,170 shares during the last quarter. ING Groep NV grew its stake in shares of Urban Edge Properties by 23.2% in the fourth quarter. ING Groep NV now owns 15,971 shares of the real estate investment trust’s stock worth $407,000 after purchasing an additional 3,008 shares in the last quarter. California Public Employees Retirement System grew its stake in shares of Urban Edge Properties by 1.7% in the third quarter. California Public Employees Retirement System now owns 189,352 shares of the real estate investment trust’s stock worth $4,567,000 after purchasing an additional 3,196 shares in the last quarter. Finally, Swiss National Bank grew its stake in shares of Urban Edge Properties by 1.8% in the fourth quarter. Swiss National Bank now owns 191,909 shares of the real estate investment trust’s stock worth $4,892,000 after purchasing an additional 3,400 shares in the last quarter. Hedge funds and other institutional investors own 91.67% of the company’s stock.
Separately, Zacks Investment Research cut Urban Edge Properties from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $25.00.
UE stock opened at $20.85 on Wednesday. Urban Edge Properties has a 52 week low of $20.10 and a 52 week high of $27.69. The stock has a market capitalization of $2,434.71, a price-to-earnings ratio of 32.08 and a beta of 0.52. The company has a quick ratio of 8.72, a current ratio of 8.72 and a debt-to-equity ratio of 1.58.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 4.22%. Urban Edge Properties’s payout ratio is 135.39%.
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About Urban Edge Properties
Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.
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