BTIG Research started coverage on shares of Urban Edge Properties (NYSE:UE - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The brokerage set a "buy" rating and a $23.00 price target on the real estate investment trust's stock. BTIG Research's price objective suggests a potential upside of 18.28% from the stock's previous close.
Separately, Wall Street Zen raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd.
Read Our Latest Research Report on UE
Urban Edge Properties Stock Up 0.7%
Shares of Urban Edge Properties stock opened at $19.45 on Monday. The company has a current ratio of 2.39, a quick ratio of 2.39 and a debt-to-equity ratio of 1.09. Urban Edge Properties has a 12-month low of $15.66 and a 12-month high of $23.85. The company has a market cap of $2.45 billion, a P/E ratio of 23.15 and a beta of 1.24. The company's fifty day simple moving average is $19.04 and its two-hundred day simple moving average is $19.00.
Urban Edge Properties (NYSE:UE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $115.99 million. Research analysts anticipate that Urban Edge Properties will post 1.4 EPS for the current year.
Hedge Funds Weigh In On Urban Edge Properties
Institutional investors and hedge funds have recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Urban Edge Properties in the 1st quarter worth approximately $30,837,000. Westwood Holdings Group Inc. raised its stake in Urban Edge Properties by 35.4% during 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 during the last quarter. Hudson Bay Capital Management LP grew its stake in shares of Urban Edge Properties by 56.1% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,800,970 shares of the real estate investment trust's stock worth $38,721,000 after acquiring an additional 646,960 shares during the last quarter. Balyasny Asset Management L.P. grew its stake in shares of Urban Edge Properties by 101.4% in the fourth quarter. Balyasny Asset Management L.P. now owns 922,517 shares of the real estate investment trust's stock worth $19,834,000 after acquiring an additional 464,553 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Urban Edge Properties by 27.2% during the fourth quarter. Northern Trust Corp now owns 1,971,784 shares of the real estate investment trust's stock valued at $42,393,000 after acquiring an additional 421,513 shares in the last quarter. Institutional investors own 94.94% of the company's stock.
About Urban Edge Properties
(
Get Free Report)
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.
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