Zacks Investment Research lowered shares of Urban Edge Properties (NYSE:UE) from a hold rating to a sell rating in a research report sent to investors on Thursday morning.
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. “
Separately, ValuEngine raised Urban Edge Properties from a sell rating to a hold rating in a research report on Wednesday, October 31st.
Shares of UE opened at $19.30 on Thursday. Urban Edge Properties has a 52-week low of $18.90 and a 52-week high of $26.19. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 14.40 and a beta of 0.56. The company has a debt-to-equity ratio of 1.52, a current ratio of 8.25 and a quick ratio of 8.25.
Urban Edge Properties (NYSE:UE) last issued its quarterly earnings data on Wednesday, October 31st. The real estate investment trust reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The firm had revenue of $112.21 million during the quarter, compared to the consensus estimate of $94.49 million. Urban Edge Properties had a return on equity of 8.39% and a net margin of 20.55%. On average, sell-side analysts forecast that Urban Edge Properties will post 1.29 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Friday, December 14th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date is Thursday, December 13th. Urban Edge Properties’s payout ratio is 65.67%.
Large investors have recently modified their holdings of the stock. Green Street Investors LLC acquired a new stake in shares of Urban Edge Properties during the 3rd quarter worth about $2,009,000. Schwab Charles Investment Management Inc. increased its position in shares of Urban Edge Properties by 8.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,392,989 shares of the real estate investment trust’s stock worth $31,858,000 after purchasing an additional 103,446 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Urban Edge Properties by 2.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,693,560 shares of the real estate investment trust’s stock worth $38,732,000 after purchasing an additional 46,051 shares during the last quarter. Rhumbline Advisers increased its position in shares of Urban Edge Properties by 7.3% during the 2nd quarter. Rhumbline Advisers now owns 229,547 shares of the real estate investment trust’s stock worth $5,250,000 after purchasing an additional 15,520 shares during the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of Urban Edge Properties during the 2nd quarter worth about $565,000. 86.64% of the stock is owned by hedge funds and other institutional investors.
About Urban Edge Properties
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 88 properties totaling 16.3 million square feet of gross leasable area.
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