Zacks Investment Research lowered shares of Urban Edge Properties (NYSE:UE) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Urban Edge Properties is a real estate investment trust that acquires, develops, owns, manages and improves shopping centers in and on the edge of urban communities. It operates within the United States. Urban Edge Properties is based in United States. “
Separately, BidaskClub upgraded shares of Urban Edge Properties from a strong sell rating to a sell rating in a report on Friday, June 30th.
Shares of Urban Edge Properties (NYSE UE) opened at 24.30 on Wednesday. Urban Edge Properties has a 52 week low of $23.13 and a 52 week high of $30.27. The firm’s 50 day moving average is $24.20 and its 200-day moving average is $26.35. The firm has a market cap of $2.43 billion, a price-to-earnings ratio of 19.92 and a beta of 0.57.
Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.33 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $126.06 million during the quarter, compared to the consensus estimate of $86.54 million. Urban Edge Properties had a net margin of 33.27% and a return on equity of 23.89%. Equities research analysts predict that Urban Edge Properties will post $0.97 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, June 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend was Tuesday, June 13th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 72.13%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in UE. Nomura Asset Management Co. Ltd. boosted its position in Urban Edge Properties by 2.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 60,560 shares of the real estate investment trust’s stock valued at $1,593,000 after buying an additional 1,320 shares during the period. Paloma Partners Management Co boosted its position in Urban Edge Properties by 76.3% in the first quarter. Paloma Partners Management Co now owns 32,020 shares of the real estate investment trust’s stock valued at $843,000 after buying an additional 13,858 shares during the period. State Street Corp boosted its position in Urban Edge Properties by 1.2% in the first quarter. State Street Corp now owns 4,173,140 shares of the real estate investment trust’s stock valued at $109,753,000 after buying an additional 51,198 shares during the period. Bank of America Corp DE boosted its position in Urban Edge Properties by 8.2% in the first quarter. Bank of America Corp DE now owns 177,627 shares of the real estate investment trust’s stock valued at $4,671,000 after buying an additional 13,494 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in Urban Edge Properties by 6.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 817,407 shares of the real estate investment trust’s stock valued at $21,498,000 after buying an additional 52,663 shares during the period. Institutional investors own 81.47% of the company’s stock.
Urban Edge Properties Company Profile
Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.
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