Urban Edge Properties (NYSE:UE) Hits New 52-Week High – Time to Buy?

Shares of Urban Edge Properties (NYSE:UE) hit a new 52-week high during trading on Wednesday . The company traded as high as $22.83 and last traded at $22.42, with a volume of 6248 shares. The stock had previously closed at $22.13.

Wall Street Analyst Weigh In

Several brokerages recently commented on UE. Evercore ISI lifted their price objective on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a report on Monday, September 16th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd.

Urban Edge Properties Stock Performance

The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.11 and a current ratio of 1.30. The stock has a market cap of $2.70 billion, a P/E ratio of 9.97 and a beta of 1.55. The business’s 50-day moving average price is $21.29 and its 200-day moving average price is $19.27.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $112.26 million during the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. As a group, sell-side analysts expect that Urban Edge Properties will post 1.34 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders 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 yield of 3.06%. The ex-dividend date was Friday, September 13th. Urban Edge Properties’s payout ratio is 30.49%.

Hedge Funds Weigh In On Urban Edge Properties

Hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Urban Edge Properties during the 2nd quarter valued at $50,000. GAMMA Investing LLC raised its stake in Urban Edge Properties by 25.9% during the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after purchasing an additional 563 shares in the last quarter. Signaturefd LLC lifted its position in Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,317 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Urban Edge Properties by 36.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in shares of Urban Edge Properties by 875.1% in the 3rd quarter. Blue Trust Inc. now owns 7,947 shares of the real estate investment trust’s stock worth $170,000 after purchasing an additional 7,132 shares during the period. 94.94% of the stock is currently owned by 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.