Jennison Associates LLC Purchases 996,287 Shares of Urban Edge Properties (NYSE:UE)

Jennison Associates LLC raised its position in Urban Edge Properties (NYSE:UEFree Report) by 98.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,006,915 shares of the real estate investment trust’s stock after buying an additional 996,287 shares during the quarter. Jennison Associates LLC owned 1.69% of Urban Edge Properties worth $34,659,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in Urban Edge Properties during the fourth quarter worth approximately $61,000. Quadrant Capital Group LLC grew its holdings in shares of Urban Edge Properties by 34.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,548 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,162 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Urban Edge Properties in the fourth quarter worth $115,000. Vanguard Personalized Indexing Management LLC acquired a new position in Urban Edge Properties in the fourth quarter valued at about $183,000. Finally, M&T Bank Corp lifted its position in Urban Edge Properties by 8.3% during the fourth quarter. M&T Bank Corp now owns 11,723 shares of the real estate investment trust’s stock worth $215,000 after purchasing an additional 901 shares during the period. Institutional investors own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Thursday, July 4th.

View Our Latest Analysis on UE

Urban Edge Properties Trading Up 0.7 %

Shares of UE stock opened at $18.22 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.76 and a current ratio of 1.76. Urban Edge Properties has a fifty-two week low of $14.36 and a fifty-two week high of $18.79. The company has a market cap of $2.16 billion, a PE ratio of 7.92 and a beta of 1.54. The stock’s fifty day moving average price is $17.63 and its two-hundred day moving average price is $17.35.

Urban Edge Properties (NYSE:UEGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.28). The company had revenue of $109.63 million for the quarter, compared to the consensus estimate of $106.38 million. Urban Edge Properties had a net margin of 63.27% and a return on equity of 24.36%. Equities analysts predict that Urban Edge Properties will post 1.27 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 3.73%. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

Urban Edge Properties Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Urban Edge Properties (NYSE:UE)

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