Norges Bank Buys Shares of 1,515,343 Urban Edge Properties (UE)

Norges Bank bought a new stake in shares of Urban Edge Properties (NYSE:UE) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,515,343 shares of the real estate investment trust’s stock, valued at approximately $25,185,000. Norges Bank owned about 1.33% of Urban Edge Properties at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in UE. BlackRock Inc. raised its position in shares of Urban Edge Properties by 1.2% during the 4th quarter. BlackRock Inc. now owns 16,389,507 shares of the real estate investment trust’s stock valued at $272,395,000 after acquiring an additional 199,143 shares in the last quarter. Vanguard Group Inc raised its position in shares of Urban Edge Properties by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 16,165,553 shares of the real estate investment trust’s stock valued at $356,934,000 after acquiring an additional 404,355 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Urban Edge Properties by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 16,165,553 shares of the real estate investment trust’s stock valued at $356,934,000 after acquiring an additional 404,355 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Urban Edge Properties by 2.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 3,061,726 shares of the real estate investment trust’s stock valued at $50,885,000 after acquiring an additional 77,780 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Urban Edge Properties by 1.5% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,977,645 shares of the real estate investment trust’s stock valued at $65,745,000 after acquiring an additional 42,672 shares in the last quarter. Institutional investors own 83.59% of the company’s stock.

Several equities research analysts have weighed in on UE shares. Zacks Investment Research lowered Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, April 3rd. ValuEngine lowered Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Monday, February 25th. Finally, Evercore ISI lowered Urban Edge Properties from an “in-line” rating to an “underperform” rating in a research report on Tuesday, February 19th.

Shares of NYSE UE opened at $18.72 on Friday. Urban Edge Properties has a 1-year low of $16.13 and a 1-year high of $23.37. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 1.54. The firm has a market capitalization of $2.25 billion, a price-to-earnings ratio of 14.29 and a beta of 0.94.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.06 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.27). Urban Edge Properties had a return on equity of 10.41% and a net margin of 25.39%. The company had revenue of $100.92 million during the quarter, compared to analyst estimates of $95.91 million. Sell-side analysts anticipate that Urban Edge Properties will post 1.25 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date of this dividend was Thursday, March 14th. Urban Edge Properties’s dividend payout ratio (DPR) is 67.18%.

In other news, Director Steven Roth sold 5,717,184 shares of the firm’s stock in a transaction on Thursday, February 28th. The stock was sold at an average price of $18.98, for a total transaction of $108,512,152.32. Following the transaction, the director now directly owns 1,327,326 shares of the company’s stock, valued at $25,192,647.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.90% of the stock is currently owned by company insiders.

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Urban Edge Properties Profile

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 88 properties totaling 16.3 million square feet of gross leasable area.

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Institutional Ownership by Quarter for Urban Edge Properties (NYSE:UE)

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