Jennison Associates LLC Has $61.15 Million Stock Holdings in Urban Edge Properties $UE

Jennison Associates LLC increased its holdings in Urban Edge Properties (NYSE:UE) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,277,304 shares of the real estate investment trust’s stock after purchasing an additional 84,256 shares during the period. Jennison Associates LLC owned approximately 2.61% of Urban Edge Properties worth $61,154,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Bessemer Group Inc. raised its position in Urban Edge Properties by 14,625.4% in the second quarter. Bessemer Group Inc. now owns 50,950 shares of the real estate investment trust’s stock worth $951,000 after purchasing an additional 50,604 shares in the last quarter. Envestnet Asset Management Inc. raised its position in Urban Edge Properties by 26.0% in the second quarter. Envestnet Asset Management Inc. now owns 56,972 shares of the real estate investment trust’s stock worth $1,063,000 after purchasing an additional 11,771 shares in the last quarter. MQS Management LLC acquired a new position in Urban Edge Properties in the second quarter worth about $360,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Urban Edge Properties by 11.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 106,469 shares of the real estate investment trust’s stock worth $1,987,000 after buying an additional 11,313 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Urban Edge Properties by 314.9% during the second quarter. AlphaQuest LLC now owns 17,551 shares of the real estate investment trust’s stock worth $328,000 after buying an additional 13,321 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on UE. UBS Group began coverage on shares of Urban Edge Properties in a report on Friday, October 24th. They set a “neutral” rating and a $21.00 price objective for the company. Wall Street Zen raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. Morgan Stanley raised their price objective on shares of Urban Edge Properties from $20.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 24th. BTIG Research began coverage on shares of Urban Edge Properties in a report on Monday, August 11th. They set a “buy” rating and a $23.00 price objective for the company. Finally, Evercore ISI raised their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Monday, September 15th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $22.00.

Urban Edge Properties Stock Performance

Shares of Urban Edge Properties stock opened at $19.66 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.39 and a quick ratio of 2.39. The firm has a market cap of $2.47 billion, a P/E ratio of 23.40 and a beta of 1.26. The firm has a 50 day simple moving average of $20.34 and a 200 day simple moving average of $19.33. Urban Edge Properties has a fifty-two week low of $15.66 and a fifty-two week high of $23.85.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The business had revenue of $113.91 million during the quarter, compared to analyst estimates of $115.99 million. Urban Edge Properties had a net margin of 22.86% and a return on equity of 7.74%. Sell-side analysts predict that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 15th were issued a $0.19 dividend. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.9%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 90.48%.

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 17.1 million square feet of gross leasable area.