Wellington Management Group LLP Purchases 1,499,628 Shares of Urban Edge Properties (NYSE:UE)

Wellington Management Group LLP raised its position in Urban Edge Properties (NYSE:UE) by 1,499.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 1,599,628 shares of the real estate investment trust’s stock after buying an additional 1,499,628 shares during the period. Wellington Management Group LLP’s holdings in Urban Edge Properties were worth $34,216,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Louisiana State Employees Retirement System lifted its holdings in shares of Urban Edge Properties by 2.6% during the second quarter. Louisiana State Employees Retirement System now owns 59,800 shares of the real estate investment trust’s stock worth $1,105,000 after purchasing an additional 1,500 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Urban Edge Properties by 29.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,843 shares of the real estate investment trust’s stock worth $607,000 after buying an additional 7,501 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Urban Edge Properties by 8.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,466 shares of the real estate investment trust’s stock valued at $951,000 after buying an additional 4,061 shares during the last quarter. Signaturefd LLC increased its stake in shares of Urban Edge Properties by 91.6% in the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,317 shares during the period. Finally, Van ECK Associates Corp raised its position in shares of Urban Edge Properties by 11.2% during the second quarter. Van ECK Associates Corp now owns 18,330 shares of the real estate investment trust’s stock worth $339,000 after acquiring an additional 1,849 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Price Performance

UE stock opened at $22.46 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 10.07 and a beta of 1.53. The company’s fifty day simple moving average is $22.46 and its 200 day simple moving average is $20.54. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85.

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

Urban Edge Properties Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.03%. Urban Edge Properties’s payout ratio is presently 30.49%.

Analyst Upgrades and Downgrades

Separately, Evercore ISI increased their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.

Insider Buying and Selling

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction on 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 approximately $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jeffrey S. Olson sold 240,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the sale, the chief executive officer now directly owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.10% of the stock is owned by insiders.

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.