Urban Edge Properties (NYSE:UE) Price Target Lowered to $22.00 at Evercore ISI

Urban Edge Properties (NYSE:UE) had its price target lowered by Evercore ISI from $23.00 to $22.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an in-line rating on the real estate investment trust’s stock.

Urban Edge Properties Stock Up 0.5 %

Shares of Urban Edge Properties stock opened at $21.59 on Tuesday. The company has a fifty day moving average price of $22.55 and a 200 day moving average price of $20.83. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a twelve month low of $15.81 and a twelve month high of $23.85. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of 9.68 and a beta of 1.53.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. The company had revenue of $112.26 million during the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. Equities research analysts forecast that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Urban Edge Properties Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.17 per share. The ex-dividend date is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.15%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

Insiders Place Their Bets

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the transaction, the chief executive officer now owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. This trade represents a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Mark Langer sold 93,962 shares of Urban Edge Properties stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $23.57, for a total value of $2,214,684.34. Following the completion of the transaction, the chief financial officer now owns 35,816 shares of the company’s stock, valued at $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.30% of the stock is owned by company insiders.

Institutional Investors Weigh In On Urban Edge Properties

Several institutional investors and hedge funds have recently made changes to their positions in UE. Point72 Hong Kong Ltd acquired a new position in Urban Edge Properties in the second quarter worth $50,000. Signaturefd LLC boosted its holdings in shares of Urban Edge Properties by 91.6% in the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,317 shares during the period. GAMMA Investing LLC grew its position in shares of Urban Edge Properties by 25.9% during the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock valued at $59,000 after buying an additional 563 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Urban Edge Properties by 36.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,221 shares during the period. Finally, Quest Partners LLC acquired a new stake in Urban Edge Properties during the third quarter worth about $101,000. 94.94% of the stock is owned by institutional investors and hedge funds.

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.