Urban Edge Properties (NYSE:UE) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Urban Edge Properties (NYSE:UE) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

Separately, Evercore ISI cut their target price on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th.

Urban Edge Properties Price Performance

Shares of UE opened at $20.30 on Tuesday. The company has a market cap of $2.55 billion, a P/E ratio of 34.40 and a beta of 1.54. Urban Edge Properties has a fifty-two week low of $15.81 and a fifty-two week high of $23.85. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 1.15. The firm’s 50 day moving average price is $20.62 and its 200 day moving average price is $21.35.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. On average, research analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Urban Edge Properties Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.74%. This is an increase from Urban Edge Properties’s previous quarterly dividend of $0.17. Urban Edge Properties’s payout ratio is presently 128.81%.

Insider Activity at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the company’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. This represents a 99.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Urban Edge Properties

Institutional investors have recently added to or reduced their stakes in the business. GF Fund Management CO. LTD. purchased a new stake in shares of Urban Edge Properties in the 4th quarter valued at about $47,000. Quarry LP purchased a new position in Urban Edge Properties during the 4th quarter worth approximately $49,000. Smartleaf Asset Management LLC increased its position in Urban Edge Properties by 76.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,029 shares during the period. Sterling Capital Management LLC lifted its stake in Urban Edge Properties by 858.7% in the fourth quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust’s stock valued at $85,000 after buying an additional 3,555 shares during the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Urban Edge Properties in the fourth quarter valued at approximately $93,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.