Urban Edge Properties (NYSE:UE) Hits New 52-Week High – What’s Next?

Urban Edge Properties (NYSE:UE) reached a new 52-week high during trading on Wednesday . The stock traded as high as $23.48 and last traded at $23.17, with a volume of 3203 shares trading hands. The stock had previously closed at $22.73.

Analyst Ratings Changes

Several research firms have recently commented on UE. Evercore ISI raised their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note 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 Price Performance

The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a 50-day moving average of $21.43 and a 200 day moving average of $19.46. The stock has a market capitalization of $2.87 billion, a PE ratio of 10.35 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The business had revenue of $112.26 million for the quarter. Sell-side analysts predict that Urban Edge Properties will post 1.32 EPS for the current year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. The ex-dividend date was Friday, September 13th. Urban Edge Properties’s dividend payout ratio is currently 30.49%.

Institutional Investors Weigh In On Urban Edge Properties

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sei Investments Co. grew its position in shares of Urban Edge Properties by 33.1% during the first quarter. Sei Investments Co. now owns 688,744 shares of the real estate investment trust’s stock worth $11,895,000 after acquiring an additional 171,246 shares during the last quarter. Marshall Wace LLP acquired a new position in shares of Urban Edge Properties during the second quarter valued at approximately $19,326,000. Centersquare Investment Management LLC raised its holdings in Urban Edge Properties by 15.8% during the first quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock worth $36,334,000 after purchasing an additional 296,324 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in Urban Edge Properties by 16.2% during the 1st quarter. Russell Investments Group Ltd. now owns 191,555 shares of the real estate investment trust’s stock valued at $3,308,000 after purchasing an additional 26,650 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Urban Edge Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock valued at $320,302,000 after purchasing an additional 191,258 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.