Evercore ISI Lowers Urban Edge Properties (NYSE:UE) Price Target to $22.00

Urban Edge Properties (NYSE:UE) had its target price dropped by equities researchers at Evercore ISI from $23.00 to $22.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective indicates a potential upside of 1.90% from the company’s previous close.

Urban Edge Properties Stock Up 0.5 %

Shares of NYSE UE opened at $21.59 on Tuesday. The company has a market cap of $2.70 billion, a price-to-earnings ratio of 9.68 and a beta of 1.53. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The firm’s fifty day moving average is $22.54 and its 200 day moving average is $20.83. Urban Edge Properties has a 52 week low of $15.81 and a 52 week high of $23.85.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. The company had revenue of $112.26 million during the quarter. On average, equities research analysts expect that Urban Edge Properties will post 1.32 earnings per share for the current year.

Insider Activity at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value of $5,388,000.00. Following the sale, the chief executive officer now directly owns 1,931 shares of the company’s stock, valued at $43,350.95. This represents a 99.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark Langer sold 93,962 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the transaction, the chief financial officer now owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. The trade was a 72.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Urban Edge Properties

A number of institutional investors have recently made changes to their positions in UE. Principal Financial Group Inc. boosted its position in shares of Urban Edge Properties by 11.0% during the third quarter. Principal Financial Group Inc. now owns 650,407 shares of the real estate investment trust’s stock valued at $13,912,000 after buying an additional 64,221 shares during the last quarter. Sanctuary Advisors LLC bought a new position in Urban Edge Properties during the 3rd quarter valued at about $269,000. Coldstream Capital Management Inc. purchased a new stake in shares of Urban Edge Properties during the 3rd quarter valued at about $206,000. Geode Capital Management LLC grew its stake in shares of Urban Edge Properties by 4.4% in the third quarter. Geode Capital Management LLC now owns 3,109,608 shares of the real estate investment trust’s stock worth $66,525,000 after acquiring an additional 130,854 shares during the period. Finally, Vestcor Inc raised its holdings in shares of Urban Edge Properties by 1,837.8% during the third quarter. Vestcor Inc now owns 106,713 shares of the real estate investment trust’s stock valued at $2,283,000 after purchasing an additional 101,206 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company’s stock.

About Urban Edge Properties

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.