Short Interest in Urban Edge Properties (NYSE:UE) Drops By 19.1%

Urban Edge Properties (NYSE:UE) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,330,000 shares, a drop of 19.1% from the November 15th total of 2,880,000 shares. Based on an average trading volume of 838,300 shares, the short-interest ratio is currently 2.8 days.

Insider Activity at Urban Edge Properties

In other news, CFO Mark Langer sold 93,962 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the sale, the chief financial officer now owns 35,816 shares of the company’s stock, valued at $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey S. Olson sold 240,000 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the completion of the sale, the chief executive officer now directly owns 1,931 shares in the company, valued at $43,350.95. This represents a 99.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Edge Properties

A number of hedge funds and other institutional investors have recently modified their holdings of UE. Point72 Hong Kong Ltd acquired a new position in Urban Edge Properties during the second quarter valued at approximately $50,000. Signaturefd LLC raised its stake in shares of Urban Edge Properties by 91.6% during the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,317 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of Urban Edge Properties by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Urban Edge Properties by 36.0% in the third 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 buying an additional 1,221 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Urban Edge Properties during the third quarter worth $101,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI lifted their price target on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 16th.

Urban Edge Properties Stock Up 1.5 %

NYSE:UE traded up $0.34 during trading hours on Monday, reaching $22.67. 967,904 shares of the stock were exchanged, compared to its average volume of 891,608. The stock has a market cap of $2.83 billion, a PE ratio of 10.01 and a beta of 1.53. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The firm has a 50 day moving average of $22.49 and a 200 day moving average of $20.63. 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 (NYSE:UE) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The business had revenue of $112.26 million during the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. On average, equities analysts expect that Urban Edge Properties will post 1.32 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.00%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s payout ratio is 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.