Urban Edge Properties (NYSE:UE) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Urban Edge Properties (NYSE:UE) from a sell rating to a hold rating in a report published on Thursday.

Separately, Evercore ISI dropped their target price on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research report on Tuesday, December 24th.

Urban Edge Properties Stock Down 0.7 %

NYSE:UE opened at $18.63 on Thursday. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 31.58 and a beta of 1.54. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average price is $20.06 and its 200 day moving average price is $21.24.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. On average, sell-side analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a $0.19 dividend. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 4.08%. The ex-dividend date is Friday, March 14th. Urban Edge Properties’s dividend payout ratio is presently 128.81%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Daiwa Securities Group Inc. increased its position in Urban Edge Properties by 1.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 41,057 shares of the real estate investment trust’s stock worth $883,000 after purchasing an additional 659 shares during the last quarter. Amalgamated Bank increased its holdings in shares of Urban Edge Properties by 2.0% during the 4th quarter. Amalgamated Bank now owns 36,272 shares of the real estate investment trust’s stock valued at $780,000 after acquiring an additional 724 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Urban Edge Properties by 6.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 13,176 shares of the real estate investment trust’s stock valued at $283,000 after acquiring an additional 778 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of Urban Edge Properties by 2.8% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,384 shares of the real estate investment trust’s stock valued at $632,000 after acquiring an additional 800 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of Urban Edge Properties by 2.9% during the 4th quarter. Arizona State Retirement System now owns 35,213 shares of the real estate investment trust’s stock valued at $757,000 after acquiring an additional 1,000 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

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.