Sierra Summit Advisors LLC Acquires Shares of 36,127 Urban Edge Properties (NYSE:UE)

Sierra Summit Advisors LLC acquired a new position in shares of Urban Edge Properties (NYSE:UE) during the 2nd quarter, Holdings Channel reports. The firm acquired 36,127 shares of the real estate investment trust’s stock, valued at approximately $667,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC increased its position in Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after acquiring an additional 1,317 shares during the period. Quadrant Capital Group LLC grew its position in shares of Urban Edge Properties by 34.3% during the 4th quarter. Quadrant Capital Group LLC now owns 4,548 shares of the real estate investment trust’s stock worth $83,000 after purchasing an additional 1,162 shares in the last quarter. EntryPoint Capital LLC bought a new position in shares of Urban Edge Properties during the first quarter worth approximately $171,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Urban Edge Properties in the fourth quarter valued at approximately $183,000. Finally, Custom Index Systems LLC bought a new stake in shares of Urban Edge Properties in the second quarter valued at approximately $259,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Urban Edge Properties Stock Performance

Shares of Urban Edge Properties stock opened at $21.43 on Monday. The company has a 50 day moving average of $20.04 and a 200-day moving average of $18.18. The company has a market cap of $2.60 billion, a PE ratio of 9.32 and a beta of 1.55. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.19. Urban Edge Properties has a 1-year low of $14.36 and a 1-year high of $21.53.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. The business had revenue of $106.36 million for the quarter, compared to the consensus estimate of $110.34 million. As a group, equities research analysts forecast that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend is Friday, September 13th. Urban Edge Properties’s dividend payout ratio is presently 29.57%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI raised their price target on Urban Edge Properties from $20.00 to $21.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th.

Urban Edge Properties Company 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.