ZWJ Investment Counsel Inc. Purchases Shares of 10,276 Urban Edge Properties (NYSE:UE)

ZWJ Investment Counsel Inc. purchased a new stake in Urban Edge Properties (NYSE:UE) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,276 shares of the real estate investment trust’s stock, valued at approximately $220,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning acquired a new position in shares of Urban Edge Properties during the third quarter worth approximately $238,000. Contravisory Investment Management Inc. acquired a new position in shares of Urban Edge Properties during the third quarter worth approximately $244,000. GAMMA Investing LLC lifted its position in shares of Urban Edge Properties by 25.9% during the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 563 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Urban Edge Properties by 12.6% during the third quarter. Handelsbanken Fonder AB now owns 35,790 shares of the real estate investment trust’s stock worth $766,000 after purchasing an additional 4,000 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Urban Edge Properties by 19.9% during the third quarter. SG Americas Securities LLC now owns 15,931 shares of the real estate investment trust’s stock worth $341,000 after purchasing an additional 2,647 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Trading Down 0.4 %

Shares of NYSE UE opened at $22.00 on Friday. The company’s 50 day simple moving average is $20.89 and its 200 day simple moving average is $18.90. Urban Edge Properties has a fifty-two week low of $14.36 and a fifty-two week high of $22.29. The firm has a market capitalization of $2.61 billion, a P/E ratio of 9.56 and a beta of 1.55. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.11 and a quick ratio of 2.11.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data 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 net margin of 66.89% and a return on equity of 24.65%. The business had revenue of $106.36 million during the quarter, compared to analyst estimates of $110.34 million. On average, analysts predict that Urban Edge Properties will post 1.31 EPS for the current year.

Urban Edge Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 3.09%. The ex-dividend date was Friday, September 13th. Urban Edge Properties’s payout ratio is presently 29.57%.

Wall Street Analysts Forecast Growth

UE has been the topic of a number of research reports. Evercore ISI upped their target price on shares of 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. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

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.