Urban Edge Properties (NYSE:UE) CEO Jeffrey S. Olson Sells 240,000 Shares

Urban Edge Properties (NYSE:UE) CEO Jeffrey S. Olson sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value of $5,388,000.00. Following the completion of the sale, the chief executive officer now owns 1,931 shares of the company’s stock, valued at $43,350.95. The trade was a 99.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Urban Edge Properties Stock Up 0.1 %

Shares of NYSE:UE traded up $0.03 during trading hours on Thursday, hitting $22.46. The company’s stock had a trading volume of 580,171 shares, compared to its average volume of 889,848. The firm’s fifty day moving average price is $22.44 and its 200 day moving average price is $20.53. Urban Edge Properties has a 52 week low of $15.81 and a 52 week high of $23.85. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of 10.06 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30.

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

Urban Edge Properties Announces Dividend

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

Institutional Investors Weigh In On Urban Edge Properties

A number of institutional investors have recently added to or reduced their stakes in UE. Louisiana State Employees Retirement System raised its holdings in Urban Edge Properties by 2.6% in 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 in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 acquiring an additional 7,501 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Urban Edge Properties by 8.6% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,466 shares of the real estate investment trust’s stock worth $951,000 after acquiring an additional 4,061 shares in the last quarter. Signaturefd LLC lifted 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 valued at $51,000 after acquiring an additional 1,317 shares during the last quarter. Finally, Van ECK Associates Corp boosted its stake in Urban Edge Properties by 11.2% in the second quarter. Van ECK Associates Corp now owns 18,330 shares of the real estate investment trust’s stock valued at $339,000 after acquiring an additional 1,849 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Analysts Set New Price Targets

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

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.