Urban Edge Properties (NYSE:UE – Get Rating) was downgraded by equities research analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Monday.
UE has been the topic of several other reports. Morgan Stanley upped their target price on Urban Edge Properties from $14.25 to $15.00 and gave the company an "underweight" rating in a research report on Monday, August 29th. Evercore ISI reduced their target price on Urban Edge Properties from $19.00 to $18.00 in a research report on Tuesday, September 27th. Finally, Compass Point reduced their target price on Urban Edge Properties from $25.00 to $22.00 and set a "buy" rating on the stock in a research report on Wednesday, June 22nd.
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Urban Edge Properties Stock Up 0.3 %
NYSE UE traded up $0.04 on Monday, hitting $13.38. The stock had a trading volume of 952,307 shares, compared to its average volume of 1,012,710. The business's fifty day moving average price is $15.70 and its 200 day moving average price is $16.85. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 17.15 and a beta of 1.52. The company has a debt-to-equity ratio of 1.64, a current ratio of 3.33 and a quick ratio of 3.33. Urban Edge Properties has a 52-week low of $12.95 and a 52-week high of $19.96.
Urban Edge Properties (NYSE:UE – Get Rating) last posted its quarterly earnings data on Wednesday, August 3rd. The real estate investment trust reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.28 by ($0.18). Urban Edge Properties had a return on equity of 8.82% and a net
margin of 21.07%. The business had revenue of $97.45 million during the quarter, compared to analyst estimates of $95.89 million. Equities research analysts anticipate that Urban Edge Properties will post 1.18 earnings per share for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Urban Edge Properties by 29.0% in the first quarter. BlackRock Inc. now owns 20,450,479 shares of the real estate investment trust's stock valued at $390,605,000 after purchasing an additional 4,602,331 shares during the period. Vanguard Group Inc. increased its holdings in shares of Urban Edge Properties by 7.1% in the first quarter. Vanguard Group Inc. now owns 18,080,860 shares of the real estate investment trust's stock valued at $345,345,000 after purchasing an additional 1,204,987 shares during the period. FMR LLC increased its holdings in shares of Urban Edge Properties by 165.0% in the second quarter. FMR LLC now owns 10,108,171 shares of the real estate investment trust's stock valued at $153,745,000 after purchasing an additional 6,293,254 shares during the period. State Street Corp increased its holdings in shares of Urban Edge Properties by 0.7% in the second 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 period. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Urban Edge Properties by 33.0% in the second 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 period. 96.91% of the stock is owned by institutional investors and hedge funds.
About Urban Edge Properties
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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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