Sierra Summit Advisors LLC Invests $667,000 in Urban Edge Properties (NYSE:UE)

Sierra Summit Advisors LLC bought a new stake in Urban Edge Properties (NYSE:UE) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 36,127 shares of the real estate investment trust’s stock, valued at approximately $667,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Urban Edge Properties by 98.6% in the first quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after acquiring an additional 996,287 shares during the last quarter. Norges Bank acquired a new position in shares of Urban Edge Properties during the 4th quarter worth approximately $14,894,000. Westwood Holdings Group Inc. increased its position in shares of Urban Edge Properties by 12.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock worth $78,959,000 after purchasing an additional 516,317 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Urban Edge Properties by 48.4% during the 2nd quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock worth $25,973,000 after purchasing an additional 458,951 shares in the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in shares of Urban Edge Properties by 15.8% in the 1st quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock valued at $36,334,000 after buying an additional 296,324 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Stock Performance

Shares of NYSE UE opened at $21.43 on Monday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $2.60 billion, a P/E ratio of 9.32 and a beta of 1.55. Urban Edge Properties has a 12 month low of $14.36 and a 12 month high of $21.53. The stock has a 50 day moving average of $20.04 and a 200-day moving average of $18.18.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The company had revenue of $106.36 million for the quarter, compared to the consensus estimate of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. As a group, equities research analysts predict that Urban Edge Properties will post 1.31 EPS for the current year.

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be issued a $0.17 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 3.17%. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UE. Evercore ISI boosted their target price on shares of Urban Edge Properties from $20.00 to $21.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

Urban Edge Properties Company Profile

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.