Maryland State Retirement & Pension System Acquires 1,079 Shares of Urban Edge Properties (NYSE:UE)

Maryland State Retirement & Pension System grew its holdings in shares of Urban Edge Properties (NYSE:UE) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,052 shares of the real estate investment trust’s stock after purchasing an additional 1,079 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Urban Edge Properties were worth $904,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in Urban Edge Properties during the third quarter worth about $101,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Urban Edge Properties during the 3rd quarter worth approximately $565,000. Intech Investment Management LLC purchased a new stake in shares of Urban Edge Properties during the 3rd quarter worth approximately $627,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Urban Edge Properties by 4.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,271,201 shares of the real estate investment trust’s stock worth $48,581,000 after purchasing an additional 101,111 shares during the period. Finally, Citigroup Inc. lifted its stake in Urban Edge Properties by 47.6% in the third quarter. Citigroup Inc. now owns 187,934 shares of the real estate investment trust’s stock valued at $4,020,000 after purchasing an additional 60,634 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Urban Edge Properties Trading Down 0.7 %

Shares of UE stock opened at $18.63 on Monday. The stock has a market capitalization of $2.34 billion, a price-to-earnings ratio of 31.58 and a beta of 1.54. The company’s fifty day simple moving average is $20.06 and its two-hundred day simple moving average is $21.25. Urban Edge Properties has a 1 year low of $15.81 and a 1 year high of $23.85. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. As a group, analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a $0.19 dividend. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Friday, March 14th. Urban Edge Properties’s dividend payout ratio (DPR) is 128.81%.

Analyst Upgrades and Downgrades

UE has been the topic of several research reports. Evercore ISI lowered their target price on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Thursday.

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.