Zacks Investment Research cut shares of Urban Edge Properties (NYSE:UE) from a hold rating to a sell rating in a report released on Thursday, October 26th.
According to Zacks, “Urban Edge Properties is a real estate investment trust that acquires, develops, owns, manages and improves shopping centers in and on the edge of urban communities. It operates within the United States. Urban Edge Properties is based in United States. “
Other equities analysts have also issued research reports about the company. Evercore ISI downgraded Urban Edge Properties from an in-line rating to an underperform rating and set a $25.00 price objective for the company. in a report on Monday, August 14th. BidaskClub raised Urban Edge Properties from a strong sell rating to a sell rating in a research report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company currently has an average rating of Hold and an average price target of $25.00.
Shares of Urban Edge Properties (UE) traded up $0.15 during mid-day trading on Thursday, reaching $24.70. The company had a trading volume of 504,500 shares, compared to its average volume of 474,392. Urban Edge Properties has a 12 month low of $23.13 and a 12 month high of $28.90. The stock has a market capitalization of $2,811.28, a price-to-earnings ratio of 18.57 and a beta of 0.55. The company has a debt-to-equity ratio of 1.36, a current ratio of 7.58 and a quick ratio of 7.58.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be issued a $0.22 dividend. The ex-dividend date is Thursday, December 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.56%. Urban Edge Properties’s dividend payout ratio is presently 90.72%.
A number of large investors have recently added to or reduced their stakes in UE. Prudential Financial Inc. increased its stake in Urban Edge Properties by 7.0% in the 1st quarter. Prudential Financial Inc. now owns 61,898 shares of the real estate investment trust’s stock worth $1,628,000 after acquiring an additional 4,070 shares during the last quarter. Principal Financial Group Inc. grew its position in Urban Edge Properties by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 377,894 shares of the real estate investment trust’s stock valued at $9,939,000 after acquiring an additional 9,762 shares during the last quarter. Thrivent Financial For Lutherans grew its position in Urban Edge Properties by 4.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 50,461 shares of the real estate investment trust’s stock valued at $1,327,000 after acquiring an additional 1,950 shares during the last quarter. Menta Capital LLC bought a new position in Urban Edge Properties in the 1st quarter valued at $403,000. Finally, Vanguard Group Inc. grew its position in Urban Edge Properties by 2.9% in the 1st quarter. Vanguard Group Inc. now owns 15,731,679 shares of the real estate investment trust’s stock valued at $413,744,000 after acquiring an additional 436,150 shares during the last quarter. 87.18% of the stock is currently owned by institutional investors and hedge funds.
Urban Edge Properties Company Profile
Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.
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