Todays Report: The Virginia Retirement Systems ET AL Acquires New Position in Urban Edge Properties (UE)

The Virginia Retirement Systems ET AL Acquires New Position in Urban Edge Properties (UE)

Virginia Retirement Systems ET AL purchased a new position in shares of Urban Edge Properties (NYSE:UE) during the second quarter, Holdings Channel reports. The firm purchased 12,600 shares of the real estate investment trust’s stock, valued at approximately $376,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Urban Edge Properties by 2.7% in the second quarter. Vanguard Group Inc. now owns 15,055,030 shares of the real estate investment trust’s stock worth $449,543,000 after buying an additional 390,051 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Urban Edge Properties by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,984,873 shares of the real estate investment trust’s stock valued at $102,969,000 after buying an additional 71,610 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Urban Edge Properties by 3.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,283,554 shares of the real estate investment trust’s stock valued at $38,326,000 after buying an additional 40,550 shares during the last quarter. Geode Capital Management LLC raised its stake in Urban Edge Properties by 7.0% in the first quarter. Geode Capital Management LLC now owns 750,317 shares of the real estate investment trust’s stock valued at $19,388,000 after buying an additional 49,151 shares during the last quarter. Finally, RS Investment Management Co. LLC raised its stake in Urban Edge Properties by 76.3% in the second quarter. RS Investment Management Co. LLC now owns 723,690 shares of the real estate investment trust’s stock valued at $21,609,000 after buying an additional 313,100 shares during the last quarter. 90.16% of the stock is owned by institutional investors.

Shares of Urban Edge Properties (NYSE:UE) opened at 26.08 on Friday. The stock has a 50 day moving average price of $28.07 and a 200 day moving average price of $27.70. The stock has a market capitalization of $2.59 billion, a P/E ratio of 30.86 and a beta of 0.51. Urban Edge Properties has a one year low of $21.77 and a one year high of $30.29.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.07%. Urban Edge Properties’s dividend payout ratio is presently 91.96%.

Several equities research analysts have recently issued reports on UE shares. Zacks Investment Research lowered Urban Edge Properties from a “buy” rating to a “sell” rating in a research note on Wednesday, July 6th. Credit Suisse Group AG lowered Urban Edge Properties from an “outperform” rating to a “neutral” rating and raised their price objective for the company from $27.00 to $28.00 in a research note on Thursday, August 4th.

Urban Edge Properties Company Profile

Urban Edge Properties is a real estate investment trust focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. The Company owns approximately 80 shopping centers, over three malls and a warehouse park adjacent to one of its centers.

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