Urban Edge Properties (NYSE:UE) Sees Large Increase in Short Interest

Urban Edge Properties (NYSE:UE) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 4,710,000 shares, an increase of 47.6% from the September 30th total of 3,190,000 shares. Based on an average daily volume of 965,700 shares, the short-interest ratio is presently 4.9 days. Approximately 4.0% of the shares of the company are sold short.

Several institutional investors and hedge funds have recently made changes to their positions in UE. Cohen & Steers Inc. boosted its holdings in shares of Urban Edge Properties by 23.5% during the second quarter. Cohen & Steers Inc. now owns 12,762,920 shares of the real estate investment trust’s stock valued at $221,181,000 after acquiring an additional 2,432,263 shares during the period. Long Pond Capital LP acquired a new stake in Urban Edge Properties in the second quarter worth about $34,713,000. Invesco Ltd. lifted its holdings in Urban Edge Properties by 37.5% in the second quarter. Invesco Ltd. now owns 2,078,646 shares of the real estate investment trust’s stock worth $36,023,000 after purchasing an additional 567,090 shares during the period. Carlson Capital L P lifted its holdings in Urban Edge Properties by 54.6% in the second quarter. Carlson Capital L P now owns 1,315,458 shares of the real estate investment trust’s stock worth $22,797,000 after purchasing an additional 464,678 shares during the period. Finally, BlackRock Inc. lifted its holdings in Urban Edge Properties by 2.0% in the second quarter. BlackRock Inc. now owns 16,530,870 shares of the real estate investment trust’s stock worth $286,481,000 after purchasing an additional 320,334 shares during the period. 86.93% of the stock is owned by institutional investors.

Several analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Compass Point began coverage on shares of Urban Edge Properties in a report on Thursday, August 15th. They set a “buy” rating and a $20.00 price target for the company. Finally, ValuEngine raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Shares of UE traded up $0.12 during midday trading on Thursday, hitting $20.74. 36,096 shares of the stock traded hands, compared to its average volume of 1,097,093. Urban Edge Properties has a 1-year low of $15.96 and a 1-year high of $21.74. The firm has a market capitalization of $2.52 billion, a PE ratio of 15.85 and a beta of 0.88. The company has a debt-to-equity ratio of 1.49, a quick ratio of 7.97 and a current ratio of 7.97. The business’s 50 day moving average price is $20.39 and its two-hundred day moving average price is $18.38.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.15. Urban Edge Properties had a net margin of 28.69% and a return on equity of 11.11%. The company had revenue of $91.24 million during the quarter, compared to the consensus estimate of $94.02 million. As a group, equities research analysts forecast that Urban Edge Properties will post 1.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s dividend payout ratio (DPR) is 67.18%.

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 87 properties totaling 16.1 million square feet of gross leasable area.

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