Urban Edge Properties (NYSE:UE) Hits New 1-Year High - What's Next?

Shares of Urban Edge Properties (NYSE:UE - Get Free Report) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.83 and last traded at $22.42, with a volume of 6248 shares. The stock had previously closed at $22.13.

Analyst Ratings Changes

Several brokerages have recently weighed in on UE. Evercore ISI raised their price target on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an "in-line" rating in a research note on Monday, September 16th. StockNews.com upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Friday, August 2nd.

Urban Edge Properties Stock Performance

The firm has a market cap of $2.74 billion, a price-to-earnings ratio of 9.82 and a beta of 1.55. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.19. The stock's 50 day moving average is $21.24 and its 200 day moving average is $19.24.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.06). Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. The firm had revenue of $106.36 million for the quarter, compared to the consensus estimate of $110.34 million. Analysts anticipate that Urban Edge Properties will post 1.31 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.17 per share. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.01%. Urban Edge Properties's payout ratio is 29.57%.

Institutional Trading of Urban Edge Properties

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Urban Edge Properties by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 25,342 shares of the real estate investment trust's stock valued at $438,000 after buying an additional 2,135 shares in the last quarter. BNP Paribas Financial Markets increased its position in Urban Edge Properties by 36.9% during the 1st quarter. BNP Paribas Financial Markets now owns 61,209 shares of the real estate investment trust's stock worth $1,057,000 after purchasing an additional 16,493 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Urban Edge Properties by 19.6% in the 1st quarter. Daiwa Securities Group Inc. now owns 42,704 shares of the real estate investment trust's stock valued at $738,000 after purchasing an additional 7,012 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in Urban Edge Properties by 6.7% in the first quarter. Mutual of America Capital Management LLC now owns 288,315 shares of the real estate investment trust's stock valued at $4,979,000 after buying an additional 18,062 shares in the last quarter. Finally, Jennison Associates LLC grew its stake in shares of Urban Edge Properties by 98.6% during the first quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust's stock worth $34,659,000 after buying an additional 996,287 shares during the last quarter. 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.