Urban Edge Properties (NYSE:UE) Plans Quarterly Dividend of $0.16

Urban Edge Properties (NYSE:UEGet Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Shareholders of record on Thursday, September 15th will be given a dividend of 0.16 per share by the real estate investment trust on Friday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date is Wednesday, September 14th.

Urban Edge Properties has a payout ratio of 148.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Urban Edge Properties to earn $1.24 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 51.6%.

Urban Edge Properties Stock Performance

Shares of Urban Edge Properties stock traded down $0.01 during trading on Friday, reaching $15.95. The company’s stock had a trading volume of 1,123,986 shares, compared to its average volume of 730,280. The business’s 50-day moving average price is $15.87 and its 200-day moving average price is $17.59. The firm has a market cap of $1.87 billion, a PE ratio of 20.45 and a beta of 1.52. Urban Edge Properties has a 52 week low of $14.22 and a 52 week high of $19.96. The company has a quick ratio of 3.67, a current ratio of 3.33 and a debt-to-equity ratio of 1.64.

Urban Edge Properties (NYSE:UEGet Rating) last announced its earnings results on Thursday, May 5th. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.20). The business had revenue of $99.42 million during the quarter, compared to the consensus estimate of $97.89 million. Urban Edge Properties had a net margin of 21.07% and a return on equity of 8.82%. Equities analysts forecast that Urban Edge Properties will post 1.17 earnings per share for the current year.

Wall Street Analyst Weigh In

UE has been the subject of a number of recent research reports. StockNews.com cut shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Wednesday, June 22nd. Compass Point dropped their price target on Urban Edge Properties from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Wednesday, June 22nd. Finally, Morgan Stanley dropped their price target on Urban Edge Properties from $16.00 to $14.25 and set an “underweight” rating for the company in a research note on Friday, July 15th. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.31.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Urban Edge Properties by 29.0% during the first quarter. BlackRock Inc. now owns 20,450,479 shares of the real estate investment trust’s stock worth $390,605,000 after acquiring an additional 4,602,331 shares in the last quarter. Vanguard Group Inc. raised its stake in Urban Edge Properties by 7.1% during the first quarter. Vanguard Group Inc. now owns 18,080,860 shares of the real estate investment trust’s stock worth $345,345,000 after acquiring an additional 1,204,987 shares in the last quarter. State Street Corp raised its stake in Urban Edge Properties by 18.1% during the first quarter. State Street Corp now owns 6,993,442 shares of the real estate investment trust’s stock worth $133,575,000 after acquiring an additional 1,074,039 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Urban Edge Properties by 3.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,692,434 shares of the real estate investment trust’s stock worth $32,326,000 after acquiring an additional 55,638 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Urban Edge Properties by 4.0% in the first quarter. Goldman Sachs Group Inc. now owns 564,965 shares of the real estate investment trust’s stock valued at $10,791,000 after buying an additional 21,491 shares during the period. Institutional investors and hedge funds own 94.09% of the company’s stock.

Urban Edge Properties Company Profile

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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 78 properties totaling 15.1 million square feet of gross leasable area.

Further Reading

Dividend History for Urban Edge Properties (NYSE:UE)

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