Urban Edge Properties (UE) Sees Strong Trading Volume
Shares of Urban Edge Properties (NYSE:UE) saw unusually-high trading volume on Friday . Approximately 574,230 shares were traded during mid-day trading, an increase of 27% from the previous session’s volume of 451,190 shares.The stock last traded at $29.12 and had previously closed at $28.62.
UE has been the subject of a number of recent research reports. Zacks Investment Research downgraded shares of Urban Edge Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 6th. Credit Suisse Group AG downgraded shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and boosted their price objective for the stock from $27.00 to $28.00 in a research note on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Urban Edge Properties has an average rating of “Hold” and a consensus target price of $27.00.
The firm has a market cap of $2.90 billion and a price-to-earnings ratio of 34.46. The stock has a 50-day moving average price of $29.19 and a 200 day moving average price of $27.13.
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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