Renaissance Technologies LLC Has $9.55 Million Stake in Urban Edge Properties $UE

Renaissance Technologies LLC lifted its stake in Urban Edge Properties (NYSE:UE) by 155.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 478,000 shares of the real estate investment trust’s stock after purchasing an additional 290,727 shares during the quarter. Renaissance Technologies LLC owned 0.38% of Urban Edge Properties worth $9,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of Urban Edge Properties by 426.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,071 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Urban Edge Properties by 2,108.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,307 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new stake in shares of Urban Edge Properties during the third quarter worth $52,000. State of Wyoming acquired a new stake in Urban Edge Properties during the first quarter valued at $66,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in Urban Edge Properties by 33.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust’s stock valued at $71,000 after purchasing an additional 922 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Stock Down 0.1%

Urban Edge Properties stock opened at $22.65 on Monday. The company has a current ratio of 2.08, a quick ratio of 2.08 and a debt-to-equity ratio of 1.21. Urban Edge Properties has a 1-year low of $18.46 and a 1-year high of $24.11. The firm’s fifty day simple moving average is $22.92 and its 200-day simple moving average is $21.49. The company has a market capitalization of $2.85 billion, a P/E ratio of 26.33 and a beta of 0.97.

Urban Edge Properties Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend was Monday, June 15th. Urban Edge Properties’s dividend payout ratio is presently 97.67%.

Insiders Place Their Bets

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 161,553 shares of the firm’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $21.73, for a total transaction of $3,510,546.69. Following the transaction, the chief executive officer directly owned 22,699 shares in the company, valued at $493,249.27. This trade represents a 87.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Urban Edge Properties in a research report on Friday, July 24th. UBS Group lifted their price target on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, BTIG Research reissued a “buy” rating and issued a $25.00 price target on shares of Urban Edge Properties in a research note on Friday, June 12th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Urban Edge Properties has a consensus rating of “Hold” and a consensus target price of $23.20.

Urban Edge Properties Company Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.