Urban Edge Properties (NYSE:UE) Given New $22.00 Price Target at Evercore ISI

Urban Edge Properties (NYSE:UE) had its price objective hoisted by Evercore ISI from $21.00 to $22.00 in a research report report published on Monday morning, Benzinga reports. They currently have an in-line rating on the real estate investment trust’s stock.

Separately, StockNews.com upgraded shares of Urban Edge Properties from a sell rating to a hold rating in a research report on Friday, August 2nd.

Urban Edge Properties Price Performance

UE stock opened at $21.52 on Monday. The firm has a 50 day moving average of $20.04 and a 200-day moving average of $18.18. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $2.61 billion, a P/E ratio of 9.35 and a beta of 1.55. Urban Edge Properties has a 12 month low of $14.36 and a 12 month high of $21.61.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). Urban Edge Properties had a net margin of 66.89% and a return on equity of 24.65%. The firm had revenue of $106.36 million for the quarter, compared to analysts’ expectations of $110.34 million. As a group, sell-side analysts predict that Urban Edge Properties will post 1.31 earnings per share for the current fiscal year.

Urban Edge Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Friday, September 13th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.16%. Urban Edge Properties’s payout ratio is 29.57%.

Hedge Funds Weigh In On Urban Edge Properties

Hedge funds and other institutional investors have recently modified their holdings of the company. Algert Global LLC bought a new stake in shares of Urban Edge Properties in the 2nd quarter worth approximately $655,000. Mackenzie Financial Corp raised its position in Urban Edge Properties by 7.4% in the 2nd quarter. Mackenzie Financial Corp now owns 11,978 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 822 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Urban Edge Properties by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 65,475 shares of the real estate investment trust’s stock worth $1,209,000 after purchasing an additional 5,149 shares during the last quarter. APG Asset Management US Inc. boosted its position in Urban Edge Properties by 48.2% during the second quarter. APG Asset Management US Inc. now owns 661,067 shares of the real estate investment trust’s stock valued at $12,031,000 after buying an additional 215,000 shares during the period. Finally, AQR Capital Management LLC boosted its position in Urban Edge Properties by 47.6% during the second quarter. AQR Capital Management LLC now owns 115,774 shares of the real estate investment trust’s stock valued at $2,112,000 after buying an additional 37,312 shares during the period. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.