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

Urban Edge Properties (NYSE:UE) had its target price increased by Evercore ISI from $21.00 to $22.00 in a report published on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Separately, StockNews.com raised Urban Edge Properties from a sell rating to a hold rating in a research note on Friday, August 2nd.

Urban Edge Properties Stock Performance

Shares of NYSE:UE opened at $21.24 on Monday. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.11 and a quick ratio of 2.11. The business’s 50 day moving average price is $20.17 and its 200-day moving average price is $18.25. The firm has a market capitalization of $2.58 billion, a PE ratio of 9.23 and a beta of 1.55. Urban Edge Properties has a 1 year low of $14.36 and a 1 year high of $21.66.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. The company had revenue of $106.36 million for the quarter, compared to analysts’ expectations of $110.34 million. As a group, equities research analysts expect that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Friday, September 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.20%. Urban Edge Properties’s dividend payout ratio is currently 29.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Algert Global LLC purchased a new stake in shares of Urban Edge Properties in the 2nd quarter valued at about $655,000. Mackenzie Financial Corp lifted its holdings in shares of Urban Edge Properties by 7.4% in the 2nd quarter. Mackenzie Financial Corp now owns 11,978 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 822 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Urban Edge Properties by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 65,475 shares of the real estate investment trust’s stock valued at $1,209,000 after purchasing an additional 5,149 shares during the last quarter. APG Asset Management US Inc. lifted its holdings in shares of Urban Edge Properties by 48.2% in the 2nd quarter. APG Asset Management US Inc. now owns 661,067 shares of the real estate investment trust’s stock valued at $12,031,000 after purchasing an additional 215,000 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of Urban Edge Properties by 47.6% in the 2nd quarter. AQR Capital Management LLC now owns 115,774 shares of the real estate investment trust’s stock valued at $2,112,000 after purchasing an additional 37,312 shares during 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.