Urban Edge Properties (NYSE:UE) Releases FY24 Earnings Guidance

Urban Edge Properties (NYSE:UE) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share guidance of $1.29-1.32 for the period, compared to the consensus earnings per share estimate of $1.31. Urban Edge Properties also updated its FY 2024 guidance to 1.290-1.320 EPS.

Urban Edge Properties Trading Down 0.7 %

NYSE:UE opened at $20.06 on Friday. Urban Edge Properties has a 52 week low of $14.36 and a 52 week high of $21.28. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.76 and a current ratio of 2.11. The firm’s fifty day moving average is $18.52 and its 200-day moving average is $17.54. The firm has a market cap of $2.43 billion, a P/E ratio of 8.71 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Tuesday, May 7th. The real estate investment trust reported $0.02 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.28). Urban Edge Properties had a net margin of 66.89% and a return on equity of 24.65%. The firm had revenue of $109.63 million for the quarter, compared to the consensus estimate of $106.38 million. Equities analysts expect that Urban Edge Properties will post 1.31 earnings per share for the current year.

Analysts Set New Price Targets

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

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.