Urban Edge Properties (NYSE:UE) Receives Consensus Rating of “Hold” from Analysts

Shares of Urban Edge Properties (NYSE:UE) have been assigned a consensus rating of “Hold” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $23.20.

Several analysts recently weighed in on the company. BTIG Research restated a “buy” rating and set a $25.00 price objective on shares of Urban Edge Properties in a research report on Friday, June 12th. UBS Group lifted their target price on Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Urban Edge Properties in a research note on Friday, July 24th.

Insider Transactions at Urban Edge Properties

In related news, CEO Jeffrey S. Olson sold 161,553 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $21.73, for a total transaction of $3,510,546.69. Following the completion of the transaction, the chief executive officer directly owned 22,699 shares in the company, valued at $493,249.27. This represents a 87.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Urban Edge Properties

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Urban Edge Properties by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,956 shares of the real estate investment trust’s stock valued at $1,424,000 after acquiring an additional 3,276 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Urban Edge Properties by 7.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 871,958 shares of the real estate investment trust’s stock worth $16,567,000 after purchasing an additional 58,350 shares in the last quarter. Jane Street Group LLC acquired a new position in Urban Edge Properties in the 1st quarter worth about $5,076,000. New York State Common Retirement Fund raised its position in Urban Edge Properties by 15.1% in the second quarter. New York State Common Retirement Fund now owns 42,670 shares of the real estate investment trust’s stock valued at $796,000 after purchasing an additional 5,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in Urban Edge Properties by 21.9% in the second quarter. Arrowstreet Capital Limited Partnership now owns 350,300 shares of the real estate investment trust’s stock valued at $6,537,000 after purchasing an additional 62,820 shares during the last quarter. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Trading Down 0.3%

Shares of UE stock opened at $22.60 on Thursday. Urban Edge Properties has a fifty-two week low of $18.46 and a fifty-two week high of $24.11. The stock’s fifty day moving average price is $22.92 and its two-hundred day moving average price is $21.51. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.08 and a current ratio of 2.08. The company has a market cap of $2.85 billion, a PE ratio of 26.28 and a beta of 0.98.

Urban Edge Properties Announces Dividend

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

About Urban Edge Properties

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.