Urban Edge Properties (NYSE:UE) Given Average Recommendation of "Hold" by Analysts

Key Points

• Analysts rate Urban Edge Properties “Hold” overall: Four of six analysts recommend holding the stock, while two recommend buying it. The average 12-month price target is $23.20, slightly above the $22.97 opening price.
• Urban Edge exceeded quarterly expectations, reporting $0.18 in EPS versus a $0.12 estimate and revenue of $132.62 million compared with the $119.45 million consensus.
• The REIT pays a quarterly dividend of $0.21 per share, equivalent to an annualized $0.84 and a 3.7% yield; however, its payout ratio is high at 97.67%. Institutional investors own 94.94% of the stock, while the CEO recently sold 161,553 shares.

Urban Edge Properties (NYSE:UE - Get Free Report) has been given a consensus recommendation of "Hold" by the six research firms that are presently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $23.20.

A number of equities research analysts have commented on UE shares. Weiss Ratings restated a "buy (b)" rating on shares of Urban Edge Properties in a research note on Friday, July 24th. UBS Group lifted their price target on shares of Urban Edge Properties from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Thursday, July 9th. Finally, BTIG Research reiterated a "buy" rating and issued a $25.00 price target on shares of Urban Edge Properties in a research report on Friday, June 12th.

Insiders Place Their Bets

In other Urban Edge Properties news, CEO Jeffrey S. Olson sold 161,553 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $21.73, for a total value of $3,510,546.69. Following the completion of the sale, the chief executive officer owned 22,699 shares in the company, valued at approximately $493,249.27. This represents a 87.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.70% of the company's stock.

Hedge Funds Weigh In On Urban Edge Properties

Several large investors have recently made changes to their positions in UE. EverSource Wealth Advisors LLC boosted its stake in shares of Urban Edge Properties by 426.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,322 shares of the real estate investment trust's stock worth $25,000 after acquiring an additional 1,071 shares during the period. Global Retirement Partners LLC raised its stake in Urban Edge Properties by 2,108.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,369 shares of the real estate investment trust's stock valued at $26,000 after purchasing an additional 1,307 shares during the period. CIBC Private Wealth Group LLC bought a new stake in Urban Edge Properties during the 3rd quarter valued at approximately $52,000. State of Wyoming purchased a new position in Urban Edge Properties in the 1st quarter worth approximately $66,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its holdings in Urban Edge Properties by 33.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,677 shares of the real estate investment trust's stock worth $71,000 after purchasing an additional 922 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Urban Edge Properties Stock Performance

Shares of UE opened at $22.97 on Thursday. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.21. The business has a 50-day simple moving average of $22.90 and a two-hundred day simple moving average of $21.43. The stock has a market cap of $2.89 billion, a price-to-earnings ratio of 26.71 and a beta of 0.97. Urban Edge Properties has a 52 week low of $18.46 and a 52 week high of $24.11.

Urban Edge Properties (NYSE:UE - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The real estate investment trust reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.06. The firm had revenue of $132.62 million for the quarter, compared to analysts' expectations of $119.45 million. Urban Edge Properties had a return on equity of 7.80% and a net margin of 22.20%. On average, analysts expect that Urban Edge Properties will post 1.49 EPS for the current year.

Urban Edge Properties Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, June 15th were paid a dividend of $0.21 per share. The ex-dividend date was Monday, June 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.7%. Urban Edge Properties's payout ratio is 97.67%.

Urban Edge Properties Company Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company's portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.

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