Jennison Associates LLC Purchases 215,879 Shares of Urban Edge Properties (NYSE:UE)

Jennison Associates LLC grew its position in Urban Edge Properties (NYSE:UE) by 7.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,966,029 shares of the real estate investment trust’s stock after buying an additional 215,879 shares during the period. Jennison Associates LLC owned approximately 2.38% of Urban Edge Properties worth $63,443,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in UE. Point72 Hong Kong Ltd acquired a new position in Urban Edge Properties in the second quarter valued at about $50,000. Signaturefd LLC grew its position in shares of Urban Edge Properties by 91.6% in the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,317 shares during the period. GAMMA Investing LLC increased its stake in Urban Edge Properties by 25.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in 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 worth $97,000 after buying an additional 1,221 shares during the period. Finally, Quest Partners LLC bought a new position in Urban Edge Properties in the third quarter valued at approximately $101,000. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

UE has been the subject of several research reports. Evercore ISI increased 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 research report on Monday, September 16th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

Urban Edge Properties Stock Down 2.0 %

Shares of UE stock opened at $22.99 on Thursday. The firm’s fifty day moving average price is $21.95 and its two-hundred day moving average price is $19.94. Urban Edge Properties has a 1 year low of $15.81 and a 1 year high of $23.85. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a market capitalization of $2.87 billion, a P/E ratio of 10.31 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The firm had revenue of $112.26 million during the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. On average, equities analysts predict that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 2.96%. Urban Edge Properties’s dividend payout ratio is presently 30.49%.

Insider Activity at Urban Edge Properties

In other news, CFO Mark Langer sold 93,962 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total value of $2,214,684.34. Following the transaction, the chief financial officer now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.10% of the stock is currently owned by company insiders.

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.