Urban Edge Properties (NYSE:UE) Sets New 52-Week High at $21.31

Shares of Urban Edge Properties (NYSE:UE) hit a new 52-week high during trading on Thursday . The stock traded as high as $21.31 and last traded at $21.29, with a volume of 671472 shares trading hands. The stock had previously closed at $20.92.

Wall Street Analysts Forecast Growth

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

Urban Edge Properties Stock Performance

The stock’s 50 day moving average is $19.86 and its two-hundred day moving average is $18.09. The company has a debt-to-equity ratio of 1.19, a current ratio of 2.11 and a quick ratio of 2.11. The firm has a market capitalization of $2.58 billion, a P/E ratio of 9.10 and a beta of 1.55.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. The company had revenue of $106.36 million during the quarter, compared to analyst estimates of $110.34 million. As a group, equities analysts anticipate that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 3.19%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 29.57%.

Institutional Investors Weigh In On Urban Edge Properties

Large investors have recently bought and sold shares of the company. Sei Investments Co. boosted its position in shares of Urban Edge Properties by 33.1% during the 1st quarter. Sei Investments Co. now owns 688,744 shares of the real estate investment trust’s stock valued at $11,895,000 after purchasing an additional 171,246 shares in the last quarter. Centersquare Investment Management LLC increased its position in shares of Urban Edge Properties by 15.8% during the first quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock valued at $36,334,000 after acquiring an additional 296,324 shares during the last quarter. Evoke Wealth LLC bought a new stake in shares of Urban Edge Properties during the 4th quarter worth $1,106,000. Russell Investments Group Ltd. grew its position in shares of Urban Edge Properties by 16.2% during the 1st quarter. Russell Investments Group Ltd. now owns 191,555 shares of the real estate investment trust’s stock valued at $3,308,000 after acquiring an additional 26,650 shares during the period. Finally, Jennison Associates LLC raised its stake in shares of Urban Edge Properties by 98.6% in the first quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after buying an additional 996,287 shares during the period. 94.94% of the stock is currently 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 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.