Principal Financial Group Inc. Decreases Holdings in Urban Edge Properties (NYSE:UE)

Principal Financial Group Inc. cut its position in shares of Urban Edge Properties (NYSE:UE) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 667,533 shares of the real estate investment trust’s stock after selling 41,095 shares during the quarter. Principal Financial Group Inc. owned 0.57% of Urban Edge Properties worth $10,300,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of UE. Arizona State Retirement System raised its position in shares of Urban Edge Properties by 2.7% during the 1st quarter. Arizona State Retirement System now owns 34,028 shares of the real estate investment trust’s stock worth $512,000 after purchasing an additional 890 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in Urban Edge Properties by 63.0% in the first quarter. Tower Research Capital LLC TRC now owns 2,484 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 960 shares during the period. abrdn plc grew its stake in shares of Urban Edge Properties by 5.3% during the 1st quarter. abrdn plc now owns 21,488 shares of the real estate investment trust’s stock valued at $324,000 after buying an additional 1,075 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Urban Edge Properties by 1.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 123,300 shares of the real estate investment trust’s stock worth $1,857,000 after buying an additional 1,200 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Urban Edge Properties by 2.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,745 shares of the real estate investment trust’s stock valued at $809,000 after acquiring an additional 1,233 shares during the last quarter. 98.02% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, November 1st.

Urban Edge Properties Trading Up 0.1 %

NYSE UE opened at $16.83 on Tuesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.79 and a current ratio of 1.79. Urban Edge Properties has a one year low of $13.13 and a one year high of $17.68. The company’s 50 day moving average price is $15.71 and its 200 day moving average price is $15.58. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 46.75 and a beta of 1.58.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Tuesday, October 31st. The real estate investment trust reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.03. Urban Edge Properties had a net margin of 10.19% and a return on equity of 4.08%. The business had revenue of $101.73 million for the quarter. On average, sell-side analysts predict that Urban Edge Properties will post 1.24 EPS for the current year.

Urban Edge Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, December 14th. Urban Edge Properties’s payout ratio is 177.78%.

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 17.2 million square feet of gross leasable area.