California Public Employees Retirement System Has $4.38 Million Holdings in Urban Edge Properties (UE)

California Public Employees Retirement System decreased its stake in Urban Edge Properties (NYSE:UE) by 4.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,568 shares of the real estate investment trust’s stock after selling 9,501 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Urban Edge Properties worth $4,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new stake in Urban Edge Properties in the second quarter worth about $233,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Urban Edge Properties during the second quarter worth about $299,000. Xact Kapitalforvaltning AB grew its position in shares of Urban Edge Properties by 42.8% during the first quarter. Xact Kapitalforvaltning AB now owns 16,690 shares of the real estate investment trust’s stock worth $356,000 after purchasing an additional 5,000 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Urban Edge Properties during the first quarter worth about $427,000. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Urban Edge Properties during the second quarter worth about $447,000. Institutional investors and hedge funds own 86.22% of the company’s stock.

NYSE:UE opened at $20.42 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 7.69 and a quick ratio of 7.69. Urban Edge Properties has a 12-month low of $19.51 and a 12-month high of $26.19. The stock has a market cap of $2.52 billion, a P/E ratio of 15.29 and a beta of 0.50.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, August 1st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.13. Urban Edge Properties had a return on equity of 7.67% and a net margin of 19.70%. The firm had revenue of $101.97 million during the quarter, compared to analysts’ expectations of $98.47 million. As a group, research analysts anticipate that Urban Edge Properties will post 1.32 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 28th. Investors of record on Friday, September 14th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend was Thursday, September 13th. Urban Edge Properties’s dividend payout ratio is currently 65.67%.

Separately, Zacks Investment Research cut Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, August 1st.

Urban Edge Properties Company Profile

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 88 properties totaling 16.3 million square feet of gross leasable area.

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Institutional Ownership by Quarter for Urban Edge Properties (NYSE:UE)

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