Urban Edge Properties (NYSE:UE) Given New $18.75 Price Target at Morgan Stanley

Urban Edge Properties (NYSE:UE) had its target price boosted by analysts at Morgan Stanley from $17.25 to $18.75 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “underweight” rating on the real estate investment trust’s stock. Morgan Stanley’s price objective would indicate a potential downside of 6.72% from the company’s current price.

A number of other research firms also recently issued reports on UE. Zacks Investment Research downgraded Urban Edge Properties from a “buy” rating to a “hold” rating in a research note on Friday, April 23rd. TheStreet upgraded Urban Edge Properties from a “d+” rating to a “c” rating in a research report on Monday, February 22nd. Finally, Capital One Financial downgraded shares of Urban Edge Properties from an “overweight” rating to an “equal weight” rating in a report on Monday, April 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $16.69.

UE stock opened at $20.10 on Friday. The stock has a 50 day moving average of $18.65. The company has a debt-to-equity ratio of 1.58, a quick ratio of 6.33 and a current ratio of 6.33. The company has a market capitalization of $2.35 billion, a PE ratio of 36.55 and a beta of 1.77. Urban Edge Properties has a 1-year low of $8.99 and a 1-year high of $20.33.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Sunday, May 2nd. The real estate investment trust reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.16. Urban Edge Properties had a net margin of 19.35% and a return on equity of 6.35%. Equities analysts anticipate that Urban Edge Properties will post 1 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of UE. Eaton Vance Management purchased a new stake in shares of Urban Edge Properties in the first quarter valued at $31,000. Van ECK Associates Corp boosted its position in shares of Urban Edge Properties by 33.2% during the fourth quarter. Van ECK Associates Corp now owns 4,663 shares of the real estate investment trust’s stock valued at $60,000 after buying an additional 1,163 shares during the period. Schroder Investment Management Group purchased a new stake in shares of Urban Edge Properties in the first quarter worth approximately $82,000. Teacher Retirement System of Texas bought a new stake in shares of Urban Edge Properties during the 4th quarter worth approximately $141,000. Finally, Voloridge Investment Management LLC purchased a new position in Urban Edge Properties during the 4th quarter valued at $152,000. 92.26% of the stock is owned by institutional investors and hedge funds.

About Urban Edge Properties

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 78 properties totaling 15.1 million square feet of gross leasable area.

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