Public Employees Retirement System of Ohio Trims Stock Holdings in Urban Edge Properties $UE

Public Employees Retirement System of Ohio lowered its stake in Urban Edge Properties (NYSE:UE) by 10.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 280,571 shares of the real estate investment trust’s stock after selling 33,736 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.22% of Urban Edge Properties worth $5,606,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Urban Edge Properties by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,956 shares of the real estate investment trust’s stock worth $1,424,000 after purchasing an additional 3,276 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Urban Edge Properties by 7.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 871,958 shares of the real estate investment trust’s stock valued at $16,567,000 after purchasing an additional 58,350 shares during the period. Jane Street Group LLC purchased a new stake in Urban Edge Properties in the first quarter valued at approximately $5,076,000. New York State Common Retirement Fund lifted its stake in Urban Edge Properties by 15.1% during the second quarter. New York State Common Retirement Fund now owns 42,670 shares of the real estate investment trust’s stock worth $796,000 after purchasing an additional 5,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Urban Edge Properties by 21.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 350,300 shares of the real estate investment trust’s stock worth $6,537,000 after purchasing an additional 62,820 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Stock Performance

Shares of UE stock opened at $23.14 on Wednesday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.21. Urban Edge Properties has a 52 week low of $18.46 and a 52 week high of $24.11. The stock has a market capitalization of $2.92 billion, a PE ratio of 26.91 and a beta of 0.97. The firm has a 50 day moving average of $22.88 and a two-hundred day moving average of $21.41.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.06. The business had revenue of $132.62 million for the quarter, compared to analyst estimates of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%. On average, research analysts predict that Urban Edge Properties will post 1.49 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a $0.21 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.6%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 97.67%.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 19,034 shares of Urban Edge Properties stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $21.62, for a total value of $411,515.08. Following the completion of the transaction, the chief executive officer owned 3,665 shares in the company, valued at approximately $79,237.30. This trade represents a 83.85% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

UE has been the subject of a number of research reports. BTIG Research reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Urban Edge Properties in a research note on Friday, June 12th. Weiss Ratings raised Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, UBS Group raised their target price on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $23.20.

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.