Evercore ISI Cuts Urban Edge Properties (NYSE:UE) Price Target to $22.00

Urban Edge Properties (NYSE:UE - Free Report) had its price objective reduced by Evercore ISI from $23.00 to $22.00 in a research note published on Tuesday,Benzinga reports. They currently have an in-line rating on the real estate investment trust's stock.

Urban Edge Properties Stock Performance

Shares of Urban Edge Properties stock traded up $0.11 on Tuesday, reaching $21.59. The stock had a trading volume of 307,199 shares, compared to its average volume of 895,088. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.30. Urban Edge Properties has a fifty-two week low of $15.81 and a fifty-two week high of $23.85. The business's 50-day moving average price is $22.55 and its two-hundred day moving average price is $20.83. The stock has a market cap of $2.70 billion, a P/E ratio of 9.68 and a beta of 1.53.

Urban Edge Properties (NYSE:UE - Get Free Report) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. The firm had revenue of $112.26 million during the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. On average, sell-side analysts forecast that Urban Edge Properties will post 1.32 EPS for the current year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.15%. Urban Edge Properties's dividend payout ratio is currently 30.49%.

Insider Transactions at Urban Edge Properties

In other news, CFO Mark Langer sold 93,962 shares of the company's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total value of $2,214,684.34. Following the sale, the chief financial officer now owns 35,816 shares of the company's stock, valued at approximately $844,183.12. This represents a 72.40 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the transaction, the chief executive officer now directly owns 1,931 shares of the company's stock, valued at $43,350.95. This represents a 99.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Wellington Management Group LLP grew its holdings in Urban Edge Properties by 1,499.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust's stock worth $34,216,000 after acquiring an additional 1,499,628 shares during the last quarter. FMR LLC grew its stake in shares of Urban Edge Properties by 8.6% during the third quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust's stock valued at $297,568,000 after purchasing an additional 1,096,560 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Urban Edge Properties in the second quarter valued at approximately $19,326,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Urban Edge Properties by 438.7% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 782,921 shares of the real estate investment trust's stock worth $16,747,000 after purchasing an additional 637,587 shares during the last quarter. Finally, American Century Companies Inc. lifted its holdings in Urban Edge Properties by 48.4% during the 2nd quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust's stock worth $25,973,000 after buying an additional 458,951 shares in the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

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.