Algert Global LLC Increases Holdings in Urban Edge Properties $UE

Algert Global LLC raised its holdings in shares of Urban Edge Properties (NYSE:UE) by 872.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 464,227 shares of the real estate investment trust’s stock after acquiring an additional 416,502 shares during the quarter. Algert Global LLC owned approximately 0.37% of Urban Edge Properties worth $8,820,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Urban Edge Properties by 9.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,300 shares of the real estate investment trust’s stock worth $671,000 after purchasing an additional 3,031 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in Urban Edge Properties by 307.6% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 100,095 shares of the real estate investment trust’s stock worth $2,152,000 after buying an additional 75,538 shares during the last quarter. GAMMA Investing LLC grew its stake in Urban Edge Properties by 1,773.9% during the 1st quarter. GAMMA Investing LLC now owns 58,729 shares of the real estate investment trust’s stock worth $1,116,000 after buying an additional 55,595 shares during the last quarter. XTX Topco Ltd acquired a new position in Urban Edge Properties during the first quarter worth approximately $316,000. Finally, SG Americas Securities LLC purchased a new stake in Urban Edge Properties in the first quarter valued at approximately $447,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on UE shares. BTIG Research began coverage on shares of Urban Edge Properties in a research report on Monday, August 11th. They set a “buy” rating and a $23.00 target price on the stock. Wall Street Zen upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd.

Urban Edge Properties Stock Performance

Shares of UE stock opened at $19.50 on Monday. The stock has a market capitalization of $2.45 billion, a PE ratio of 23.21 and a beta of 1.24. Urban Edge Properties has a 52-week low of $15.66 and a 52-week high of $23.85. The stock’s 50-day moving average price is $19.13 and its 200 day moving average price is $18.97. The company has a quick ratio of 2.39, a current ratio of 2.39 and a debt-to-equity ratio of 1.09.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $113.91 million for the quarter, compared to the consensus estimate of $115.99 million. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%. As a group, equities research analysts forecast that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Monday, September 15th. Urban Edge Properties’s payout ratio is currently 90.48%.

Urban Edge Properties 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.