StockNews.com upgraded shares of Urban Edge Properties (NYSE:UE – Get Rating) from a sell rating to a hold rating in a research note released on Tuesday morning.
Several other research firms have also commented on UE. Compass Point lowered their price target on shares of Urban Edge Properties from $25.00 to $22.00 and set a buy rating on the stock in a report on Wednesday, June 22nd. Morgan Stanley upped their price target on shares of Urban Edge Properties from $14.25 to $15.00 and gave the company an underweight rating in a report on Monday, August 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Urban Edge Properties presently has an average rating of Hold and a consensus target price of $20.50.
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Urban Edge Properties Stock Performance
Shares of UE stock opened at $15.79 on Tuesday. The business's fifty day simple moving average is $15.92 and its 200-day simple moving average is $17.27. The company has a market cap of $1.85 billion, a PE ratio of 20.24 and a beta of 1.51. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 1.64. Urban Edge Properties has a 12-month low of $14.22 and a 12-month high of $19.96.
Urban Edge Properties (NYSE:UE – Get Rating) last released its earnings results on Wednesday, August 3rd. The real estate investment trust reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.18). Urban Edge Properties had a net
margin of 21.07% and a return on equity of 8.82%. The firm had revenue of $97.45 million during the quarter, compared to analyst estimates of $95.89 million. Analysts expect that Urban Edge Properties will post 1.18 earnings per share for the current fiscal year.
Urban Edge Properties Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Thursday, September 15th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 4.05%. The ex-dividend date is Wednesday, September 14th. Urban Edge Properties's payout ratio is 82.05%.
Institutional Trading of Urban Edge Properties
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Urban Edge Properties by 29.0% in the 1st quarter. BlackRock Inc. now owns 20,450,479 shares of the real estate investment trust's stock valued at $390,605,000 after buying an additional 4,602,331 shares in the last quarter. Vanguard Group Inc. grew its holdings in Urban Edge Properties by 7.1% in the 1st quarter. Vanguard Group Inc. now owns 18,080,860 shares of the real estate investment trust's stock valued at $345,345,000 after buying an additional 1,204,987 shares in the last quarter. FMR LLC grew its holdings in Urban Edge Properties by 165.0% in the 2nd quarter. FMR LLC now owns 10,108,171 shares of the real estate investment trust's stock valued at $153,745,000 after buying an additional 6,293,254 shares in the last quarter. State Street Corp lifted its stake in shares of Urban Edge Properties by 0.7% in the 2nd quarter. State Street Corp now owns 7,039,461 shares of the real estate investment trust's stock valued at $107,070,000 after purchasing an additional 46,019 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Urban Edge Properties by 33.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 5,605,011 shares of the real estate investment trust's stock valued at $85,252,000 after purchasing an additional 1,390,647 shares during the last quarter. 96.91% of the stock is currently owned by hedge funds and other institutional investors.
Urban Edge Properties Company Profile
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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 78 properties totaling 15.1 million square feet of gross leasable area.
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