Northern Trust Corp Raises Stake in Urban Edge Properties (UE)

Northern Trust Corp increased its position in Urban Edge Properties (NYSE:UE) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,241,792 shares of the real estate investment trust’s stock after buying an additional 25,695 shares during the period. Northern Trust Corp owned 1.97% of Urban Edge Properties worth $51,270,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cubist Systematic Strategies LLC acquired a new stake in shares of Urban Edge Properties in the 2nd quarter valued at about $233,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Urban Edge Properties during the 2nd quarter valued at about $299,000. Koch Industries Inc. acquired a new position in Urban Edge Properties during the 1st quarter valued at about $303,000. Xact Kapitalforvaltning AB boosted its stake in Urban Edge Properties by 42.8% during the 1st quarter. Xact Kapitalforvaltning AB now owns 16,690 shares of the real estate investment trust’s stock valued at $356,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Nisa Investment Advisors LLC acquired a new position in Urban Edge Properties during the 2nd quarter valued at about $447,000. Institutional investors own 86.22% of the company’s stock.

Separately, Zacks Investment Research downgraded Urban Edge Properties from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st.

UE stock opened at $20.07 on Friday. The stock has a market cap of $2.52 billion, a price-to-earnings ratio of 14.98 and a beta of 0.50. The company has a debt-to-equity ratio of 1.52, a current ratio of 7.69 and a quick ratio of 7.69. Urban Edge Properties has a 52-week low of $19.51 and a 52-week high of $26.19.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.13. The business had revenue of $101.97 million during the quarter, compared to the consensus estimate of $98.47 million. Urban Edge Properties had a return on equity of 7.67% and a net margin of 19.70%. On average, analysts forecast that Urban Edge Properties will post 1.32 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.88 dividend on an annualized basis and a yield of 4.38%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 65.67%.

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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