Jennison Associates LLC Has $63.44 Million Stock Holdings in Urban Edge Properties (NYSE:UE)

Jennison Associates LLC lifted its position in shares of Urban Edge Properties (NYSE:UE) by 7.8% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,966,029 shares of the real estate investment trust’s stock after buying an additional 215,879 shares during the quarter. Jennison Associates LLC’s holdings in Urban Edge Properties were worth $63,443,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of UE. Point72 Hong Kong Ltd bought a new position in Urban Edge Properties during the second quarter worth about $50,000. Signaturefd LLC increased its holdings in shares of 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 purchasing an additional 1,317 shares during the period. GAMMA Investing LLC raised its position in shares of Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in Urban Edge Properties by 36.0% during the third 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 in the last quarter. Finally, Quest Partners LLC acquired a new position in Urban Edge Properties in the 3rd quarter valued at $101,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Mark Langer sold 93,962 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the transaction, the chief financial officer now owns 35,816 shares in the company, valued at approximately $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 is accessible through this link. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

UE has been the topic of several research analyst reports. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI raised their price objective on 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.

Urban Edge Properties Trading Down 2.0 %

UE opened at $22.99 on Thursday. The stock has a market cap of $2.87 billion, a PE ratio of 10.31 and a beta of 1.54. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The company has a fifty day moving average of $21.95 and a 200-day moving average of $19.94.

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 business had revenue of $112.26 million for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. On average, sell-side analysts predict that Urban Edge Properties will post 1.32 EPS for the current year.

Urban Edge Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.96%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

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.