Urban Edge Properties (NYSE:UE) Receives Average Rating of “Hold” from Analysts

Shares of Urban Edge Properties (NYSE:UE) have been given a consensus rating of “Hold” by the six research firms that are currently covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $23.20.

Several analysts have commented on the stock. UBS Group boosted their price target on shares of Urban Edge Properties from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of Urban Edge Properties in a research report on Friday, June 12th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Urban Edge Properties in a report on Friday, July 24th.

Urban Edge Properties Price Performance

Shares of NYSE:UE opened at $22.97 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.08 and a current ratio of 2.08. The firm has a fifty day moving average price of $22.90 and a 200 day moving average price of $21.43. Urban Edge Properties has a fifty-two week low of $18.46 and a fifty-two week high of $24.11. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 26.71 and a beta of 0.97.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.06. The company had revenue of $132.62 million during the quarter, compared to analysts’ expectations of $119.45 million. Urban Edge Properties had a net margin of 22.20% and a return on equity of 7.80%. As a group, sell-side analysts expect that Urban Edge Properties will post 1.49 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.7%. Urban Edge Properties’s dividend payout ratio is presently 97.67%.

Insiders Place Their Bets

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 161,553 shares of Urban Edge Properties stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $21.73, for a total value of $3,510,546.69. Following the sale, the chief executive officer owned 22,699 shares of the company’s stock, valued at $493,249.27. The trade was a 87.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of UE. Tudor Investment Corp ET AL raised its stake in Urban Edge Properties by 229.6% during the third quarter. Tudor Investment Corp ET AL now owns 72,468 shares of the real estate investment trust’s stock valued at $1,483,000 after purchasing an additional 50,479 shares in the last quarter. SG Americas Securities LLC lifted its position in Urban Edge Properties by 534.1% during the first quarter. SG Americas Securities LLC now owns 194,016 shares of the real estate investment trust’s stock valued at $3,876,000 after purchasing an additional 163,421 shares during the last quarter. Jennison Associates LLC grew its stake in shares of Urban Edge Properties by 3.7% in the 4th quarter. Jennison Associates LLC now owns 2,662,054 shares of the real estate investment trust’s stock worth $51,085,000 after buying an additional 95,007 shares in the last quarter. Strs Ohio grew its stake in shares of Urban Edge Properties by 342.0% in the 4th quarter. Strs Ohio now owns 102,100 shares of the real estate investment trust’s stock worth $1,959,000 after buying an additional 79,000 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its holdings in shares of Urban Edge Properties by 48.7% in the 4th quarter. Wolverine Asset Management LLC now owns 93,440 shares of the real estate investment trust’s stock worth $1,793,000 after buying an additional 30,619 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.