Urban Edge Properties (NYSE:UE) Sets New 12-Month High – Time to Buy?

Urban Edge Properties (NYSE:UE)’s share price reached a new 52-week high during trading on Wednesday . The company traded as high as $23.48 and last traded at $23.17, with a volume of 3203 shares traded. The stock had previously closed at $22.73.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on UE. Evercore ISI increased their price target on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 16th. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

Urban Edge Properties Trading Up 1.0 %

The firm has a fifty day moving average price of $21.43 and a 200-day moving average price of $19.46. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The company has a market capitalization of $2.87 billion, a P/E ratio of 10.35 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share 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%. On average, equities research analysts anticipate that Urban Edge Properties will post 1.32 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.96%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

Institutional Investors Weigh In On Urban Edge Properties

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC grew its position in Urban Edge Properties by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,342 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 2,135 shares during the last quarter. BNP Paribas Financial Markets raised its position in Urban Edge Properties by 36.9% in the 1st quarter. BNP Paribas Financial Markets now owns 61,209 shares of the real estate investment trust’s stock worth $1,057,000 after buying an additional 16,493 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Urban Edge Properties by 19.6% during the 1st quarter. Daiwa Securities Group Inc. now owns 42,704 shares of the real estate investment trust’s stock valued at $738,000 after acquiring an additional 7,012 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Urban Edge Properties by 6.7% during the first quarter. Mutual of America Capital Management LLC now owns 288,315 shares of the real estate investment trust’s stock valued at $4,979,000 after purchasing an additional 18,062 shares during the last quarter. Finally, Texas Permanent School Fund Corp raised its stake in Urban Edge Properties by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 102,959 shares of the real estate investment trust’s stock valued at $1,778,000 after buying an additional 1,377 shares during the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.