Urban Edge Properties (UE) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Urban Edge Properties (NYSE:UE) from a buy rating to a hold rating in a research report report published on Saturday.

According to Zacks, “Urban Edge Properties is a real estate investment trust that acquires, develops, owns, manages and improves shopping centers in and on the edge of urban communities. It operates within the United States. Urban Edge Properties is based in United States. “

A number of other brokerages have also issued reports on UE. Evercore ISI lowered Urban Edge Properties from a hold rating to an underperform rating in a research note on Friday, March 3rd. BidaskClub raised Urban Edge Properties from a strong sell rating to a sell rating in a research note on Wednesday, June 14th.

Shares of Urban Edge Properties (NYSE UE) opened at 23.65 on Friday. The company has a 50-day moving average price of $24.55 and a 200-day moving average price of $26.51. The company has a market cap of $2.36 billion, a P/E ratio of 19.39 and a beta of 0.57. Urban Edge Properties has a 52-week low of $23.33 and a 52-week high of $30.29.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, May 3rd. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.33. Urban Edge Properties had a return on equity of 23.89% and a net margin of 33.27%. The firm had revenue of $126.06 million during the quarter, compared to analyst estimates of $86.54 million. On average, equities analysts predict that Urban Edge Properties will post $0.97 EPS for the current year.

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The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 15th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date of this dividend is Tuesday, June 13th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 72.13%.

Large investors have recently modified their holdings of the stock. Tyers Asset Management LLC purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth $108,000. Pacad Investment Ltd. purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth $124,000. Flinton Capital Management LLC purchased a new stake in shares of Urban Edge Properties during the fourth quarter worth $137,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Urban Edge Properties by 5.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the real estate investment trust’s stock worth $141,000 after buying an additional 290 shares during the period. Finally, UBS Group AG raised its stake in shares of Urban Edge Properties by 18.9% in the first quarter. UBS Group AG now owns 6,315 shares of the real estate investment trust’s stock worth $166,000 after buying an additional 1,004 shares during the period. 81.77% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.

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