Urban Edge Properties (NYSE:UE) Issues FY 2024 Earnings Guidance

Urban Edge Properties (NYSE:UE) updated its FY 2024 earnings guidance on Wednesday. The company provided EPS guidance of 1.320-1.350 for the period, compared to the consensus EPS estimate of 1.320. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on UE shares. Evercore ISI increased their target price on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

Urban Edge Properties Price Performance

UE stock opened at $22.13 on Wednesday. The company’s 50-day moving average price is $21.24 and its two-hundred day moving average price is $19.24. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 1.19. Urban Edge Properties has a 12 month low of $14.52 and a 12 month high of $22.31. The firm has a market cap of $2.68 billion, a P/E ratio of 9.62 and a beta of 1.55.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The business had revenue of $106.36 million for the quarter, compared to the consensus estimate of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. On average, analysts anticipate that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date was Friday, September 13th. Urban Edge Properties’s dividend payout ratio is presently 29.57%.

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.