Urban Edge Properties (NYSE:UE) Downgraded by Wall Street Zen to "Sell"

Urban Edge Properties (NYSE:UE - Get Free Report) was downgraded by analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Friday.

Urban Edge Properties Stock Performance

Shares of NYSE UE traded up $0.02 during midday trading on Friday, reaching $19.27. The company had a trading volume of 948,400 shares, compared to its average volume of 904,867. Urban Edge Properties has a 1 year low of $15.66 and a 1 year high of $23.85. The business's 50-day simple moving average is $18.60 and its 200 day simple moving average is $19.09. The company has a current ratio of 2.29, a quick ratio of 2.29 and a debt-to-equity ratio of 1.16. The stock has a market cap of $2.42 billion, a P/E ratio of 30.11 and a beta of 1.18.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The real estate investment trust reported $0.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. Urban Edge Properties had a net margin of 17.23% and a return on equity of 5.88%. The company had revenue of $118.17 million during the quarter, compared to analyst estimates of $119.05 million. On average, analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Insider Activity

In other Urban Edge Properties news, General Counsel Robert C. Milton sold 26,000 shares of Urban Edge Properties stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $18.78, for a total transaction of $488,280.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Arizona State Retirement System boosted its stake in shares of Urban Edge Properties by 1.7% in the 1st quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust's stock valued at $681,000 after buying an additional 605 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Urban Edge Properties by 6.6% in the 1st quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust's stock valued at $231,000 after acquiring an additional 758 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in Urban Edge Properties by 6.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 13,176 shares of the real estate investment trust's stock valued at $283,000 after purchasing an additional 778 shares in the last quarter. Bank of Montreal Can increased its stake in Urban Edge Properties by 6.4% in the fourth quarter. Bank of Montreal Can now owns 17,911 shares of the real estate investment trust's stock valued at $385,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Maryland State Retirement & Pension System lifted its position in shares of Urban Edge Properties by 2.6% during the 4th quarter. Maryland State Retirement & Pension System now owns 42,052 shares of the real estate investment trust's stock worth $904,000 after buying an additional 1,079 shares during the last quarter. Hedge funds and other institutional investors own 94.94% of the company's stock.

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.