Urban Edge Properties (NYSE:UE) Declares Quarterly Dividend of $0.19

Key Points

• Urban Edge Properties declared a quarterly dividend of $0.19 per share, with the dividend yield standing at 3.9%.
• The company has a payout ratio of 155.1%, indicating it is currently relying on its balance sheet to maintain dividend payments, but projected earnings may improve its ability to cover dividends in the future.
• After a recent earnings report, Urban Edge Properties was upgraded from a "sell" rating to a "hold" rating by analysts, reflecting a more optimistic outlook for the company.

Urban Edge Properties (NYSE:UE - Get Free Report) announced a quarterly dividend on Friday, August 8th, Wall Street Journal reports. Stockholders of record on Monday, September 15th will be given a dividend of 0.19 per share by the real estate investment trust on Tuesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, September 15th.

Urban Edge Properties has a payout ratio of 155.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Urban Edge Properties to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 53.9%.

Urban Edge Properties Price Performance

Shares of UE stock traded down $0.30 during trading hours on Friday, reaching $19.32. The company had a trading volume of 729,300 shares, compared to its average volume of 981,959. 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 stock has a fifty day moving average of $18.99 and a 200-day moving average of $19.03. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of 22.99 and a beta of 1.24. Urban Edge Properties has a 12-month low of $15.66 and a 12-month high of $23.85.

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

Wall Street Analyst Weigh In

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

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.

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