Urban Edge Properties (NYSE:UE) Given New $22.00 Price Target at UBS Group

Key Points

• UBS raised its price target on Urban Edge Properties from $21 to $22 while maintaining a neutral rating; the new target implies 5.88% upside from the prior close.
• Analysts’ average rating is Moderate Buy, with an average price target of $23.
• Urban Edge reported quarterly EPS of $0.41, beating the $0.12 consensus estimate, while revenue of $119.56 million fell short of expectations.

Urban Edge Properties (NYSE:UE - Get Free Report) had its price target lifted by stock analysts at UBS Group from $21.00 to $22.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a "neutral" rating on the real estate investment trust's stock. UBS Group's price objective points to a potential upside of 5.88% from the company's previous close.

Several other brokerages have also issued reports on UE. Weiss Ratings reissued a "buy (b-)" rating on shares of Urban Edge Properties in a research note on Wednesday, November 4th. Wall Street Zen raised shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research note on Sunday, September 20th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Urban Edge Properties currently has an average rating of "Moderate Buy" and an average target price of $23.00.

Urban Edge Properties Trading Down 0.6%

Urban Edge Properties stock traded down $0.12 during trading hours on Wednesday, reaching $20.78. 862,020 shares of the company's stock were exchanged, compared to its average volume of 968,549. The firm has a market capitalization of $2.62 billion, a PE ratio of 25.03 and a beta of 1.04. The firm's 50 day simple moving average is $20.00 and its 200 day simple moving average is $21.23. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.15. Urban Edge Properties has a twelve month low of $18.46 and a twelve month high of $24.11.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.29. The firm had revenue of $119.56 million for the quarter, compared to analyst estimates of $120.49 million. Urban Edge Properties had a return on equity of 7.53% and a net margin of 21.12%. Research analysts predict that Urban Edge Properties will post 1.53 earnings per share for the current year.

Hedge Funds Weigh In On Urban Edge Properties

A number of institutional investors have recently modified their holdings of the company. GAMMA Investing LLC increased its stake in Urban Edge Properties by 6.9% during the 2nd quarter. GAMMA Investing LLC now owns 7,251 shares of the real estate investment trust's stock valued at $166,000 after purchasing an additional 471 shares in the last quarter. Allworth Financial LP grew its stake in Urban Edge Properties by 88.3% in the 2nd quarter. Allworth Financial LP now owns 1,260 shares of the real estate investment trust's stock valued at $29,000 after purchasing an additional 591 shares during the period. Farther Finance Advisors LLC grew its position in Urban Edge Properties by 20.5% during the third quarter. Farther Finance Advisors LLC now owns 4,030 shares of the real estate investment trust's stock valued at $79,000 after buying an additional 685 shares during the period. Asset Management One Co. Ltd. boosted its stake in Urban Edge Properties by 0.4% in the third quarter. Asset Management One Co. Ltd. now owns 186,996 shares of the real estate investment trust's stock valued at $3,652,000 after acquiring an additional 773 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its stake in Urban Edge Properties by 1.8% in the second quarter. Handelsbanken Fonder AB now owns 44,590 shares of the real estate investment trust's stock valued at $1,020,000 after acquiring an additional 800 shares during the last quarter. 94.94% of the stock is owned by institutional investors and hedge funds.

About Urban Edge Properties

Urban Edge Properties is a real estate investment trust that owns, manages, leases and redevelops retail properties. Its portfolio includes shopping centers and other retail destinations, with many properties anchored by grocery stores and serving densely populated communities. The company focuses on the Northeast and Mid-Atlantic, including the New York metropolitan area and markets around Washington, D.C. Its work includes leasing space to retailers and investing in property improvements and redevelopment.

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