Urban Edge Properties (NYSE:UE) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Urban Edge Properties (NYSE:UE) from a hold rating to a sell rating in a report issued on Wednesday morning, Zacks.com reports.

According to Zacks, “Urban Edge Properties is a real estate investment trust that acquires, develops, owns, manages and improves shopping centers in and on the edge of urban communities. It operates within the United States. Urban Edge Properties is based in United States. “

UE has been the subject of a number of other research reports. Morgan Stanley increased their target price on shares of Urban Edge Properties from $7.50 to $9.20 and gave the company an underweight rating in a research report on Thursday, July 2nd. Odeon Capital Group initiated coverage on shares of Urban Edge Properties in a research report on Wednesday, April 8th. They set a buy rating and a $12.00 target price for the company. Evercore ISI raised shares of Urban Edge Properties from an in-line rating to an outperform rating and set a $13.00 target price for the company in a research report on Tuesday, June 23rd. Finally, ValuEngine raised shares of Urban Edge Properties from a sell rating to a hold rating in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus target price of $12.79.

Shares of UE opened at $10.48 on Wednesday. The company has a 50 day moving average price of $10.96 and a 200-day moving average price of $12.67. Urban Edge Properties has a fifty-two week low of $6.98 and a fifty-two week high of $21.74. The stock has a market capitalization of $1.22 billion, a PE ratio of 9.53 and a beta of 1.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 10.61 and a current ratio of 10.61.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.35. Urban Edge Properties had a net margin of 34.69% and a return on equity of 13.10%. The firm had revenue of $93.36 million during the quarter, compared to analysts’ expectations of $96.60 million. Equities research analysts forecast that Urban Edge Properties will post 0.75 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of UE. Marshall Wace North America L.P. purchased a new position in shares of Urban Edge Properties in the fourth quarter worth $67,000. Sontag Advisory LLC purchased a new position in shares of Urban Edge Properties in the first quarter worth $134,000. First Citizens Bank & Trust Co. purchased a new position in shares of Urban Edge Properties in the second quarter worth $136,000. Eii Capital Management Inc. raised its holdings in shares of Urban Edge Properties by 30.3% in the second quarter. Eii Capital Management Inc. now owns 11,815 shares of the real estate investment trust’s stock worth $140,000 after buying an additional 2,745 shares during the last quarter. Finally, Amica Retiree Medical Trust raised its holdings in shares of Urban Edge Properties by 49.2% in the first quarter. Amica Retiree Medical Trust now owns 16,345 shares of the real estate investment trust’s stock worth $144,000 after buying an additional 5,389 shares during the last quarter. 88.65% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 87 properties totaling 16.1 million square feet of gross leasable area.

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