Urban Edge Properties (NYSE:UE) Reaches New 52-Week High After Dividend Announcement

Urban Edge Properties (NYSE:UE) shares reached a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as $21.87 and last traded at $21.16, with a volume of 156839 shares changing hands. The stock had previously closed at $21.04.

The newly announced dividend which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. This is a boost from Urban Edge Properties’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, March 13th. Urban Edge Properties’s dividend payout ratio is presently 85.39%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on UE. UBS Group lowered their price objective on shares of Urban Edge Properties from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Morgan Stanley boosted their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “equal weight” rating in a report on Monday, January 5th. Finally, Weiss Ratings cut shares of Urban Edge Properties from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Urban Edge Properties Stock Up 0.6%

The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 27.73 and a beta of 1.06. The firm has a 50 day simple moving average of $19.44 and a 200-day simple moving average of $19.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.74 and a quick ratio of 2.61.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, February 11th. The real estate investment trust reported $0.10 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.26). Urban Edge Properties had a net margin of 19.82% and a return on equity of 6.79%. The firm had revenue of $119.56 million during the quarter, compared to analyst estimates of $103.64 million. Urban Edge Properties has set its FY 2026 guidance at 1.470-1.520 EPS. On average, sell-side analysts forecast that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Institutional Investors Weigh In On Urban Edge Properties

A number of large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC lifted its holdings in Urban Edge Properties by 426.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,071 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Urban Edge Properties by 2,108.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust’s stock worth $26,000 after acquiring an additional 1,307 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new position in shares of Urban Edge Properties during the third quarter valued at $35,000. Smartleaf Asset Management LLC lifted its stake in shares of Urban Edge Properties by 45.3% during the third quarter. Smartleaf Asset Management LLC now owns 1,903 shares of the real estate investment trust’s stock valued at $38,000 after acquiring an additional 593 shares during the period. Finally, Hantz Financial Services Inc. boosted its holdings in Urban Edge Properties by 137.8% in the third quarter. Hantz Financial Services Inc. now owns 2,254 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,306 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

About Urban Edge Properties

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.