StockNews.com upgraded shares of Urban Edge Properties (NYSE:UE - Free Report) from a sell rating to a hold rating in a research report report published on Tuesday morning.
Separately, Evercore ISI reduced their price target on Urban Edge Properties from $23.00 to $22.00 and set an "in-line" rating on the stock in a research report on Tuesday, December 24th.
Get Our Latest Report on UE
Urban Edge Properties Price Performance
NYSE UE traded up $0.29 during trading on Tuesday, reaching $20.61. The company's stock had a trading volume of 1,224,794 shares, compared to its average volume of 819,884. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.92 and a quick ratio of 1.92. The stock has a market capitalization of $2.59 billion, a PE ratio of 34.94 and a beta of 1.54. The firm has a fifty day moving average of $20.62 and a 200 day moving average of $21.35. Urban Edge Properties has a one year low of $15.81 and a one year high of $23.85.
Urban Edge Properties (NYSE:UE - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. Analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.
Urban Edge Properties Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be paid a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date is Friday, March 14th. This is a boost from Urban Edge Properties's previous quarterly dividend of $0.17. Urban Edge Properties's dividend payout ratio (DPR) is presently 128.81%.
Insider Activity
In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction on Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total value of $5,388,000.00. Following the completion of the sale, the chief executive officer now owns 1,931 shares of the company's stock, valued at approximately $43,350.95. This trade represents a 99.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.10% of the stock is currently owned by company insiders.
Institutional Trading of Urban Edge Properties
A number of institutional investors and hedge funds have recently modified their holdings of UE. Creative Planning bought a new stake in shares of Urban Edge Properties in the 3rd quarter worth $238,000. IFM Investors Pty Ltd grew its holdings in shares of Urban Edge Properties by 2.1% in the third quarter. IFM Investors Pty Ltd now owns 28,231 shares of the real estate investment trust's stock worth $604,000 after acquiring an additional 584 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Urban Edge Properties by 36.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust's stock worth $97,000 after acquiring an additional 1,221 shares during the period. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Urban Edge Properties in the third quarter worth $550,000. Finally, abrdn plc grew its holdings in shares of Urban Edge Properties by 9.6% in the third quarter. abrdn plc now owns 25,583 shares of the real estate investment trust's stock worth $547,000 after acquiring an additional 2,240 shares during the period. Institutional investors own 94.94% of the company's stock.
About Urban Edge Properties
(
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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.
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