Urban Edge Properties (NYSE:UE) was down 2.5% during trading on Thursday . The company traded as low as $29.22 and last traded at $29.22, with a volume of 249,112 shares. The stock had previously closed at $29.97.

A number of research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. Credit Suisse Group AG reiterated a “buy” rating and set a $27.00 price objective on shares of Urban Edge Properties in a report on Thursday, May 5th. Finally, Evercore ISI cut shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $27.00.

The firm’s 50-day moving average price is $29.48 and its 200-day moving average price is $26.57. The stock has a market cap of $2.92 billion and a P/E ratio of 34.72.

Urban Edge Properties is a real estate investment trust focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. The Company owns approximately 80 shopping centers, over three malls and a warehouse park adjacent to one of its centers.

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