Urban Edge Properties (NYSE:UE) Coverage Initiated at BTIG Research

Key Points

• BTIG Research has upgraded Urban Edge Properties (NYSE:UE) to a "strong-buy" rating, indicating a positive outlook for the company.
• Urban Edge Properties reported $0.36 earnings per share for the last quarter, surpassing analysts' expectations of $0.34.
• Institutional investors hold 94.94% of Urban Edge Properties' stock, highlighting strong interest from hedge funds and other investment entities.

BTIG Research initiated coverage on shares of Urban Edge Properties (NYSE:UE - Free Report) in a research note published on Monday morning, Marketbeat Ratings reports. The brokerage issued a buy rating and a $23.00 target price on the real estate investment trust's stock.

Separately, Wall Street Zen upgraded shares of Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock traded up $0.12 on Monday, reaching $19.50. 1,561,096 shares of the stock were exchanged, compared to its average volume of 1,276,101. The firm's 50 day moving average is $19.13 and its 200-day moving average is $18.99. Urban Edge Properties has a one year low of $15.66 and a one year high of $23.85. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.39 and a current ratio of 2.39. The firm has a market cap of $2.45 billion, a PE ratio of 23.21 and a beta of 1.24.

Urban Edge Properties (NYSE:UE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.02. Urban Edge Properties had a net margin of 22.86% and a return on equity of 7.74%. The company had revenue of $113.91 million during the quarter, compared to the consensus estimate of $115.99 million. As a group, analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.9%. Urban Edge Properties's dividend payout ratio is 90.48%.

Institutional Investors Weigh In On Urban Edge Properties

Several large investors have recently modified their holdings of UE. Vanguard Group Inc. boosted its stake in Urban Edge Properties by 1.7% during the first quarter. Vanguard Group Inc. now owns 20,299,913 shares of the real estate investment trust's stock worth $385,698,000 after acquiring an additional 337,717 shares in the last quarter. State Street Corp lifted its stake in shares of Urban Edge Properties by 1.3% in the second quarter. State Street Corp now owns 7,394,625 shares of the real estate investment trust's stock valued at $137,984,000 after buying an additional 92,101 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Urban Edge Properties by 35.4% in the first quarter. Westwood Holdings Group Inc. now owns 3,945,310 shares of the real estate investment trust's stock valued at $74,961,000 after buying an additional 1,031,587 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Urban Edge Properties by 1.4% in the second quarter. Geode Capital Management LLC now owns 3,351,775 shares of the real estate investment trust's stock valued at $62,552,000 after buying an additional 46,714 shares in the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Urban Edge Properties by 2.6% in the second quarter. Jennison Associates LLC now owns 3,277,304 shares of the real estate investment trust's stock valued at $61,154,000 after buying an additional 84,256 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.