Urban Edge Properties (NYSE:UE) had its price target upped by Morgan Stanley from $7.50 to $9.20 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage presently has an "underweight" rating on the real estate investment trust's stock. Morgan Stanley's price objective would suggest a potential downside of 21.90% from the stock's current price.
Several other research firms also recently weighed in on UE. Odeon Capital Group initiated coverage on Urban Edge Properties in a research report on Wednesday, April 8th. They set a "buy" rating and a $12.00 price target for the company. Zacks Investment Research cut Urban Edge Properties from a "hold" rating to a "sell" rating in a report on Tuesday. Evercore ISI raised Urban Edge Properties from an "in-line" rating to an "outperform" rating and set a $13.00 price objective on the stock in a research report on Tuesday, June 23rd. Finally, ValuEngine raised Urban Edge Properties from a "sell" rating to a "hold" rating in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Urban Edge Properties presently has an average rating of "Hold" and a consensus price target of $12.79.
Shares of NYSE UE opened at $11.78 on Thursday. The stock has a market cap of $1.38 billion, a PE ratio of 10.79 and a beta of 1.49. The company has a quick ratio of 10.61, a current ratio of 10.61 and a debt-to-equity ratio of 1.62. Urban Edge Properties has a 52-week low of $6.98 and a 52-week high of $21.74. The business has a 50-day moving average price of $10.56 and a 200 day moving average price of $13.88.
Urban Edge Properties (NYSE:UE) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.40 earnings per share for the quarter, topping analysts' consensus estimates of $0.05 by $0.35. The company had revenue of $93.36 million during the quarter, compared to analysts' expectations of $96.60 million. Urban Edge Properties had a return on equity of 13.10% and a net margin of 34.69%. Sell-side analysts anticipate that Urban Edge Properties will post 1 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of UE. Neo Ivy Capital Management acquired a new stake in Urban Edge Properties in the 4th quarter valued at $186,000. Invesco Ltd. increased its position in Urban Edge Properties by 3.2% during the 1st quarter. Invesco Ltd. now owns 2,389,313 shares of the real estate investment trust's stock worth $21,050,000 after purchasing an additional 73,439 shares in the last quarter. Toronto Dominion Bank acquired a new position in Urban Edge Properties in the 1st quarter valued at approximately $270,000. Legal & General Group Plc boosted its stake in shares of Urban Edge Properties by 11.1% in the 1st quarter. Legal & General Group Plc now owns 676,100 shares of the real estate investment trust's stock valued at $5,956,000 after purchasing an additional 67,785 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of Urban Edge Properties by 117.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 75,344 shares of the real estate investment trust's stock valued at $664,000 after purchasing an additional 40,642 shares during the last quarter. 88.88% of the stock is currently owned by institutional investors.
Urban Edge Properties Company Profile
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 87 properties totaling 16.1 million square feet of gross leasable area.
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