Urban Edge Properties (NYSE:UE) Reaches New 1-Year High – Here’s What Happened

Urban Edge Properties (NYSE:UE) shares reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $22.83 and last traded at $22.42, with a volume of 6248 shares changing hands. The stock had previously closed at $22.13.

Analyst Ratings Changes

A number of brokerages recently weighed in on UE. Evercore ISI lifted their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Monday, September 16th. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd.

Urban Edge Properties Stock Down 1.5 %

The company has a current ratio of 1.30, a quick ratio of 2.11 and a debt-to-equity ratio of 1.13. The firm has a market cap of $2.70 billion, a PE ratio of 9.97 and a beta of 1.55. The business’s 50-day simple moving average is $21.29 and its 200 day simple moving average is $19.27.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $112.26 million for the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. As a group, equities research analysts expect that Urban Edge Properties will post 1.34 earnings per share for the current year.

Urban Edge Properties Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.06%. The ex-dividend date of this dividend was Friday, September 13th. Urban Edge Properties’s payout ratio is 30.49%.

Institutional Investors Weigh In On Urban Edge Properties

A number of institutional investors have recently added to or reduced their stakes in UE. Point72 Hong Kong Ltd purchased a new stake in Urban Edge Properties during the second quarter valued at approximately $50,000. Signaturefd LLC grew its holdings in Urban Edge Properties by 91.6% in the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,317 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Urban Edge Properties by 25.9% during the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Blue Trust Inc. boosted its position in shares of Urban Edge Properties by 875.1% in the 3rd quarter. Blue Trust Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 7,132 shares in the last quarter. 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.