Today, Bank of Montreal Can decides to keep it stake in Urban Edge Properties (UE) to the level of $275,000

Today, Bank of Montreal Can decides to keep it stake in Urban Edge Properties (UE) to the level of $275,000

Bank of Montreal Can raised its stake in Urban Edge Properties (NYSE:UE) by 6.4% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,777 shares of the real estate investment trust’s stock after buying an additional 592 shares during the period. Bank of Montreal Can’s holdings in Urban Edge Properties were worth $275,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Daiwa Securities Group Inc. raised its position in Urban Edge Properties by 3.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,343 shares of the real estate investment trust’s stock valued at $100,000 after buying an additional 100 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Urban Edge Properties by 14.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,407 shares of the real estate investment trust’s stock valued at $101,000 after buying an additional 428 shares in the last quarter. LS Investment Advisors LLC raised its position in Urban Edge Properties by 72.2% in the second quarter. LS Investment Advisors LLC now owns 5,532 shares of the real estate investment trust’s stock valued at $165,000 after buying an additional 2,320 shares in the last quarter. Northstar Group Inc. purchased a new position in Urban Edge Properties during the second quarter valued at approximately $206,000. Finally, Tower Research Capital LLC TRC purchased a new position in Urban Edge Properties during the second quarter valued at approximately $251,000. Institutional investors and hedge funds own 86.62% of the company’s stock.

Urban Edge Properties (NYSE:UE) traded up 0.26% during trading on Friday, reaching $27.14. 211,359 shares of the company’s stock traded hands. Urban Edge Properties has a 52-week low of $21.77 and a 52-week high of $30.29. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 32.12 and a beta of 0.59. The company’s 50 day moving average is $26.05 and its 200-day moving average is $27.79.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Thursday, December 15th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.88 annualized dividend and a yield of 3.24%. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.20. Urban Edge Properties’s dividend payout ratio is presently 91.95%.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a report on Saturday, August 6th. Credit Suisse Group AG lowered shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and raised their target price for the company from $27.00 to $28.00 in a report 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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