Urban Edge Properties (NYSE:UE) Given New $22.00 Price Target at UBS Group

Urban Edge Properties (NYSE:UE) had its price target lifted by UBS Group from $21.00 to $22.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the real estate investment trust’s stock.

A number of other brokerages also recently weighed in on UE. Wall Street Zen upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Sunday, September 20th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Urban Edge Properties in a research note on Wednesday, November 4th. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Urban Edge Properties Stock Performance

UE opened at $20.78 on Wednesday. The company has a market capitalization of $2.62 billion, a price-to-earnings ratio of 25.03 and a beta of 1.04. The business’s 50-day moving average price is $19.98 and its two-hundred day moving average price is $21.24. Urban Edge Properties has a 1 year low of $18.46 and a 1 year high of $24.11. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.89 and a quick ratio of 1.89.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, October 28th. The real estate investment trust reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.29. Urban Edge Properties had a net margin of 21.12% and a return on equity of 7.53%. The company had revenue of $119.56 million during the quarter, compared to the consensus estimate of $120.49 million. Equities analysts expect that Urban Edge Properties will post 1.53 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Tuesday, December 15th will be paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Tuesday, December 15th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 101.20%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in UE. BlackRock Inc. bought a new position in shares of Urban Edge Properties during the second quarter valued at $523,715,000. Jennison Associates LLC grew its stake in shares of Urban Edge Properties by 72.2% in the first quarter. Jennison Associates LLC now owns 4,585,256 shares of the real estate investment trust’s stock worth $91,613,000 after purchasing an additional 1,923,202 shares during the last quarter. Resolution Capital Ltd increased its holdings in Urban Edge Properties by 74.1% in the first quarter. Resolution Capital Ltd now owns 3,940,938 shares of the real estate investment trust’s stock valued at $78,740,000 after purchasing an additional 1,677,531 shares during the period. Bank of New York Mellon Corp acquired a new stake in Urban Edge Properties in the second quarter valued at $25,152,000. Finally, Legal & General Group Plc acquired a new stake in Urban Edge Properties in the second quarter valued at $17,780,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Urban Edge Properties Company Profile

Urban Edge Properties is a real estate investment trust that owns, manages, leases and redevelops retail properties. Its portfolio includes shopping centers and other retail destinations, with many properties anchored by grocery stores and serving densely populated communities. The company focuses on the Northeast and Mid-Atlantic, including the New York metropolitan area and markets around Washington, D.C. Its work includes leasing space to retailers and investing in property improvements and redevelopment.