Panagora Asset Management Inc. Increases Position in Urban Edge Properties (NYSE:UE)

Posted by Defense World Staff on Jun 10th, 2023

Panagora Asset Management Inc. boosted its holdings in shares of Urban Edge Properties (NYSE:UE – Get Rating) by 188.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,690 shares of the real estate investment trust’s stock after acquiring an additional 162,385 shares during the period. Panagora Asset Management Inc. owned 0.21% of Urban Edge Properties worth $3,504,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. grew its stake in Urban Edge Properties by 3.2% during the 3rd quarter. BlackRock Inc. now owns 20,966,681 shares of the real estate investment trust’s stock valued at $279,696,000 after acquiring an additional 646,634 shares in the last quarter. Vanguard Group Inc. grew its stake in Urban Edge Properties by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 18,343,408 shares of the real estate investment trust’s stock valued at $244,701,000 after acquiring an additional 272,880 shares in the last quarter. State Street Corp boosted its holdings in Urban Edge Properties by 1.0% in the 3rd quarter. State Street Corp now owns 7,107,986 shares of the real estate investment trust’s stock valued at $94,821,000 after purchasing an additional 68,525 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Urban Edge Properties by 1.1% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 5,668,486 shares of the real estate investment trust’s stock valued at $75,618,000 after purchasing an additional 63,475 shares during the last quarter. Finally, Centersquare Investment Management LLC boosted its holdings in Urban Edge Properties by 45.1% in the 3rd quarter. Centersquare Investment Management LLC now owns 2,695,272 shares of the real estate investment trust’s stock valued at $35,955,000 after purchasing an additional 838,258 shares during the last quarter. Hedge funds and other institutional investors own 97.35% of the company’s stock.

Urban Edge Properties Stock Performance

NYSE:UE opened at $14.87 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 2.03 and a quick ratio of 2.03. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 92.94 and a beta of 1.54. The company’s 50-day moving average is $14.24 and its two-hundred day moving average is $14.72. Urban Edge Properties has a 1-year low of $12.91 and a 1-year high of $17.53.

Urban Edge Properties (NYSE:UE – Get Rating) last issued its quarterly earnings data on Tuesday, May 9th. The real estate investment trust reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.29 by ($0.45). Urban Edge Properties had a return on equity of 1.72% and a net margin of 4.42%. The company had revenue of $99.35 million during the quarter, compared to analyst estimates of $97.25 million. Analysts forecast that Urban Edge Properties will post 1.16 EPS for the current year.

Urban Edge Properties Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be issued a $0.16 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $0.64 annualized dividend and a dividend yield of 4.30%. Urban Edge Properties’s dividend payout ratio is currently 400.03%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Urban Edge Properties in a report on Thursday, May 18th. They issued a “sell” rating on the stock.

About Urban Edge Properties

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Urban Edge Properties is a real estate investment trust, which engages in the acquisition, development, redevelopment, and management of retail real estate. Its portfolio includes shopping centers, malls, and industrial parks. The company was founded on June 18, 2014 and is headquartered in New York, NY.