Urban Edge Properties (NYSE:UE) Shares Break Above 50 Day Moving Average - What's Next?

Key Points

• Urban Edge Properties shares rose 3.6% and moved above their 50-day moving average of $20.08, trading as high as $20.72. The stock’s 200-day moving average is $21.18.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $22.67 price target, although UBS lowered its target to $21 and kept a neutral rating.
• The REIT beat quarterly EPS estimates by $0.29, reporting $0.41 per share, and pays an annualized dividend of $0.84, yielding about 4.1%. Institutional investors own nearly 95% of the company’s stock.

Urban Edge Properties (NYSE:UE - Get Free Report) shares crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $20.08 and traded as high as $20.72. Urban Edge Properties shares last traded at $20.6450, with a volume of 1,592,140 shares changing hands.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on UE. UBS Group decreased their price target on shares of Urban Edge Properties from $24.00 to $21.00 and set a "neutral" rating on the stock in a research note on Friday, October 9th. Weiss Ratings lowered shares of Urban Edge Properties from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Finally, 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 investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $22.67.

Urban Edge Properties Stock Up 3.6%

The company has a quick ratio of 1.57, a current ratio of 1.89 and a debt-to-equity ratio of 1.15. The company has a 50 day simple moving average of $20.08 and a two-hundred day simple moving average of $21.18. The company has a market capitalization of $2.61 billion, a P/E ratio of 24.87 and a beta of 0.99.

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

Urban Edge Properties Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a $0.21 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $0.84 dividend on an annualized basis and a yield of 4.1%. Urban Edge Properties's dividend payout ratio (DPR) is currently 101.20%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Jupiter Topco LLC purchased a new position in Urban Edge Properties in the 2nd quarter worth about $1,173,000. Bank of America Corp DE bought a new position in Urban Edge Properties in the second quarter worth approximately $11,208,000. Hsbc Holdings PLC bought a new position in shares of Urban Edge Properties in the 2nd quarter worth $5,605,000. Corient Private Wealth LP bought a new position in Urban Edge Properties in the second quarter worth about $2,278,000. Finally, Quantinno Capital Management LP raised its holdings in Urban Edge Properties by 148.9% in the first quarter. Quantinno Capital Management LP now owns 163,781 shares of the real estate investment trust's stock worth $3,272,000 after purchasing an additional 97,978 shares in the last quarter. Institutional investors own 94.94% of the company's stock.

About Urban Edge Properties

Urban Edge Properties NYSE: UE is a self-managed real estate investment trust that owns, manages and develops retail and mixed-use properties. Its portfolio is focused primarily on shopping centers anchored by grocery stores and other essential-service retailers, as well as properties serving densely populated communities.

The company's properties are concentrated in the Washington, DC, and New York metropolitan areas, including locations in the surrounding suburbs. Urban Edge typically seeks to enhance the value of its properties through leasing, redevelopment, property improvements and selective acquisitions or dispositions.

Urban Edge was formed as an independent publicly traded company through a spin-off from Vornado Realty Trust in 2015.

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