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

A number of research firms recently commented on UE. Zacks Investment Research cut shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a research report on Saturday, August 6th. Credit Suisse Group AG cut shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $27.00 to $28.00 in a research report on Thursday, August 4th. Finally, Evercore ISI cut shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $27.00.

The stock has a market capitalization of $2.90 billion and a price-to-earnings ratio of 34.51. The company’s 50 day moving average price is $29.50 and its 200-day moving average price is $26.63.

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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