Insider Selling: Urban Edge Properties (NYSE:UE) CFO Sells 93,962 Shares of Stock

Urban Edge Properties (NYSE:UE) CFO Mark Langer sold 93,962 shares of Urban Edge Properties stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.57, for a total value of $2,214,684.34. Following the sale, the chief financial officer now directly owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. The trade was a 72.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Urban Edge Properties Trading Down 0.3 %

NYSE UE opened at $23.00 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 10.31 and a beta of 1.54. The business’s fifty day moving average is $21.75 and its 200 day moving average is $19.74.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The company had revenue of $112.26 million for the quarter. As a group, sell-side analysts expect that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s payout ratio is presently 30.49%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 563 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of Urban Edge Properties by 2.1% in the third quarter. IFM Investors Pty Ltd now owns 28,231 shares of the real estate investment trust’s stock worth $604,000 after purchasing an additional 584 shares during the period. Arizona State Retirement System increased its holdings in shares of Urban Edge Properties by 1.9% in the second quarter. Arizona State Retirement System now owns 32,958 shares of the real estate investment trust’s stock worth $609,000 after purchasing an additional 627 shares during the period. Mackenzie Financial Corp increased its holdings in shares of Urban Edge Properties by 7.4% in the second quarter. Mackenzie Financial Corp now owns 11,978 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 822 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Urban Edge Properties by 36.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after purchasing an additional 1,221 shares during the period. 94.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on UE shares. Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

About Urban Edge Properties

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.