Summit Global Investments Sells 48,406 Shares of Urban Edge Properties $UE

Summit Global Investments decreased its position in shares of Urban Edge Properties (NYSE:UE) by 80.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,490 shares of the real estate investment trust’s stock after selling 48,406 shares during the period. Summit Global Investments’ holdings in Urban Edge Properties were worth $235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Amalgamated Bank grew its position in Urban Edge Properties by 1.8% during the 3rd quarter. Amalgamated Bank now owns 36,499 shares of the real estate investment trust’s stock worth $747,000 after acquiring an additional 648 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in Urban Edge Properties by 5.7% in the second quarter. Quadrant Capital Group LLC now owns 14,744 shares of the real estate investment trust’s stock worth $275,000 after purchasing an additional 792 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Urban Edge Properties by 0.7% during the second quarter. California State Teachers Retirement System now owns 112,542 shares of the real estate investment trust’s stock worth $2,100,000 after purchasing an additional 816 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Urban Edge Properties by 15.5% in the third quarter. GAMMA Investing LLC now owns 6,635 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 891 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. increased its stake in shares of Urban Edge Properties by 8.4% in the third quarter. ZWJ Investment Counsel Inc. now owns 12,100 shares of the real estate investment trust’s stock valued at $248,000 after buying an additional 935 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Price Performance

Shares of UE stock opened at $19.44 on Monday. The firm’s 50 day moving average price is $19.18 and its two-hundred day moving average price is $19.64. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.61 and a current ratio of 2.61. Urban Edge Properties has a 52-week low of $15.66 and a 52-week high of $21.73. The stock has a market cap of $2.45 billion, a PE ratio of 21.84 and a beta of 1.06.

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a dividend of $0.19 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.9%. Urban Edge Properties’s payout ratio is 85.39%.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. UBS Group reduced their price target on shares of Urban Edge Properties from $21.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, January 8th. Weiss Ratings upgraded shares of Urban Edge Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Morgan Stanley increased their price target on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “equal weight” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.00.

Urban Edge Properties Company Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.