Urban Edge Properties (NYSE:UE) Price Target Increased to $22.00 by Analysts at Evercore ISI

by · The Cerbat Gem

Urban Edge Properties (NYSE:UE – Free Report) had its target price raised by Evercore ISI from $21.00 to $22.00 in a report issued on Monday morning, Benzinga reports. Evercore ISI currently has an in-line rating on the real estate investment trust’s stock.

Separately, StockNews.com upgraded shares of Urban Edge Properties from a sell rating to a hold rating in a research report on Friday, August 2nd.

Read Our Latest Research Report on Urban Edge Properties

Urban Edge Properties Stock Up 0.3 %

Shares of Urban Edge Properties stock opened at $21.31 on Monday. Urban Edge Properties has a twelve month low of $14.36 and a twelve month high of $21.66. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.19. The company’s 50 day moving average is $20.23 and its 200 day moving average is $18.27. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 9.26 and a beta of 1.55.

Urban Edge Properties (NYSE:UE – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm had revenue of $106.36 million during the quarter, compared to analysts’ expectations of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. Research analysts anticipate that Urban Edge Properties will post 1.31 EPS for the current year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.19%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 29.57%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of UE. Marshall Wace LLP purchased a new position in Urban Edge Properties during the second quarter valued at $19,326,000. Jennison Associates LLC grew its holdings in Urban Edge Properties by 98.6% during the 1st quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after buying an additional 996,287 shares in the last quarter. Norges Bank bought a new stake in Urban Edge Properties in the 4th quarter worth approximately $14,894,000. Westwood Holdings Group Inc. raised its holdings in shares of Urban Edge Properties by 12.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock worth $78,959,000 after acquiring an additional 516,317 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in shares of Urban Edge Properties by 48.4% during the 2nd quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock worth $25,973,000 after acquiring an additional 458,951 shares in the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Company Profile

(Get Free Report)

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.

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