Urban Edge Properties (NYSE:UE) Shares Bought by Jennison Associates LLC

Jennison Associates LLC increased its stake in Urban Edge Properties (NYSE:UE) by 6.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,169,598 shares of the real estate investment trust’s stock after purchasing an additional 203,569 shares during the quarter. Jennison Associates LLC owned about 2.54% of Urban Edge Properties worth $68,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of UE. GAMMA Investing LLC boosted its holdings in shares of Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after acquiring an additional 563 shares in the last quarter. IFM Investors Pty Ltd lifted its position in Urban Edge Properties by 2.1% in the third quarter. IFM Investors Pty Ltd now owns 28,231 shares of the real estate investment trust’s stock worth $604,000 after purchasing an additional 584 shares during the period. Mackenzie Financial Corp boosted its stake in Urban Edge Properties by 7.4% during the 2nd quarter. Mackenzie Financial Corp now owns 11,978 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 822 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,221 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Urban Edge Properties by 11.1% in the 3rd quarter. M&T Bank Corp now owns 12,886 shares of the real estate investment trust’s stock worth $276,000 after buying an additional 1,292 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Evercore ISI decreased their target price on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th.

Insider Transactions at Urban Edge Properties

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 240,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value of $5,388,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,931 shares in the company, valued at $43,350.95. This trade represents a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark Langer sold 93,962 shares of Urban Edge Properties stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the transaction, the chief financial officer now directly owns 35,816 shares in the company, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

Urban Edge Properties Stock Down 1.1 %

NYSE UE opened at $20.13 on Tuesday. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85. The company has a market capitalization of $2.51 billion, a P/E ratio of 9.02 and a beta of 1.54. The company’s 50 day simple moving average is $21.36 and its 200 day simple moving average is $21.28. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.17 per share. The ex-dividend date was Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.38%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

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.