Urban Edge Properties (NYSE:UE) Announces Quarterly Dividend of $0.17

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Thursday, August 8th, Wall Street Journal reports. Stockholders of record on Friday, September 13th will be paid a dividend of 0.17 per share by the real estate investment trust on Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend is Friday, September 13th.

Urban Edge Properties has raised its dividend by an average of 42.8% annually over the last three years. Urban Edge Properties has a dividend payout ratio of 200.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Urban Edge Properties to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 49.3%.

Urban Edge Properties Stock Up 0.5 %

NYSE UE opened at $20.70 on Wednesday. The stock has a fifty day moving average of $19.86 and a 200-day moving average of $18.09. Urban Edge Properties has a 52 week low of $14.36 and a 52 week high of $21.28. The stock has a market capitalization of $2.51 billion, a P/E ratio of 9.00 and a beta of 1.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.11 and a current ratio of 2.11.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by ($0.06). The business had revenue of $106.36 million during the quarter, compared to the consensus estimate of $110.34 million. Urban Edge Properties had a net margin of 66.89% and a return on equity of 24.65%. On average, equities research analysts forecast that Urban Edge Properties will post 1.31 EPS for the current year.

Analysts Set New Price Targets

UE has been the subject of several analyst reports. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Evercore ISI raised their target price on shares of Urban Edge Properties from $20.00 to $21.00 and gave the stock an “in-line” rating in a report on Wednesday, August 28th.

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.