Zacks Investment Research upgraded shares of Urban Edge Properties (NYSE:UE) from a hold rating to a buy rating in a report issued on Thursday, Zacks.com reports. Zacks Investment Research currently has $20.00 price objective on the real estate investment trust’s stock.
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. “
Separately, Morgan Stanley raised their target price on shares of Urban Edge Properties from $17.25 to $18.75 and gave the company an underweight rating in a report on Friday, June 11th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat, Urban Edge Properties currently has a consensus rating of Hold and an average price target of $16.69.
Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, August 4th. The real estate investment trust reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.15). Urban Edge Properties had a return on equity of 4.54% and a net margin of 12.93%. The business had revenue of $94.01 million for the quarter, compared to the consensus estimate of $89.72 million. Sell-side analysts anticipate that Urban Edge Properties will post 1.07 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Stockholders of record on Wednesday, September 15th will be paid a $0.15 dividend. The ex-dividend date is Tuesday, September 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.27%. Urban Edge Properties’s payout ratio is currently 68.18%.
Several institutional investors and hedge funds have recently bought and sold shares of UE. Group One Trading L.P. acquired a new stake in shares of Urban Edge Properties in the 2nd quarter valued at approximately $29,000. Eaton Vance Management acquired a new stake in Urban Edge Properties during the 1st quarter worth approximately $31,000. Bbva USA acquired a new stake in Urban Edge Properties during the 2nd quarter worth approximately $34,000. Dark Forest Capital Management LP acquired a new stake in Urban Edge Properties during the 2nd quarter worth approximately $42,000. Finally, Advisor Group Holdings Inc. boosted its position in Urban Edge Properties by 371.9% during the 2nd quarter. Advisor Group Holdings Inc. now owns 4,063 shares of the real estate investment trust’s stock worth $77,000 after buying an additional 3,202 shares during the period. Institutional investors own 93.37% of the company’s stock.
Urban Edge Properties Company Profile
Urban Edge Properties is a real estate investment trust, which engages in the acquisition, development, and management of commercial properties. Its portfolio includes shopping centers, malls, and warehouse parks. The company was founded on June 18, 2014 and is headquartered in New York, NY.
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