Urban Edge Properties (NYSE:UE) Downgraded to Sell at StockNews.com

StockNews.com cut shares of Urban Edge Properties (NYSE:UE) from a hold rating to a sell rating in a report issued on Thursday morning.

Urban Edge Properties Trading Down 0.7 %

Urban Edge Properties stock opened at $19.42 on Thursday. The business has a 50-day simple moving average of $18.17 and a two-hundred day simple moving average of $17.45. The company has a market cap of $2.31 billion, a P/E ratio of 8.44 and a beta of 1.54. Urban Edge Properties has a 52-week low of $14.36 and a 52-week high of $20.16. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 1.25.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Tuesday, May 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.28). Urban Edge Properties had a net margin of 63.27% and a return on equity of 24.36%. The company had revenue of $109.63 million for the quarter, compared to analysts’ expectations of $106.38 million. Analysts predict that Urban Edge Properties will post 1.31 EPS for the current year.

Urban Edge Properties Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.17 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.68 dividend on an annualized basis and a yield of 3.50%. Urban Edge Properties’s dividend payout ratio is presently 29.57%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC increased its stake in Urban Edge Properties by 29.6% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 32,843 shares of the real estate investment trust’s stock worth $607,000 after acquiring an additional 7,501 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in Urban Edge Properties by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 59,800 shares of the real estate investment trust’s stock worth $1,105,000 after buying an additional 1,500 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Urban Edge Properties by 5.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 121,394 shares of the real estate investment trust’s stock valued at $2,097,000 after buying an additional 6,479 shares during the period. Westwood Holdings Group Inc. boosted its position in Urban Edge Properties by 12.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock valued at $78,959,000 after buying an additional 516,317 shares during the period. Finally, EntryPoint Capital LLC purchased a new stake in Urban Edge Properties in the 1st quarter valued at about $171,000. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.