Urban Edge Properties (NYSE:UE) Releases Quarterly Earnings Results

Urban Edge Properties (NYSE:UE) released its earnings results on Wednesday. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter, reports. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. The business had revenue of $112.26 million for the quarter. Urban Edge Properties updated its FY 2024 guidance to 1.320-1.350 EPS.

Urban Edge Properties Stock Performance

Shares of NYSE UE opened at $22.24 on Friday. The company has a 50-day simple moving average of $21.29 and a 200-day simple moving average of $19.27. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 2.11. The company has a market cap of $2.70 billion, a PE ratio of 9.97 and a beta of 1.55. Urban Edge Properties has a 12 month low of $14.71 and a 12 month high of $22.89.

Urban Edge Properties Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were issued a $0.17 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.06%. Urban Edge Properties’s dividend payout ratio (DPR) is 30.49%.

Hedge Funds Weigh In On Urban Edge Properties

Several institutional investors have recently added to or reduced their stakes in UE. Point72 Hong Kong Ltd acquired a new stake in shares of Urban Edge Properties in the second quarter worth approximately $50,000. GAMMA Investing LLC increased its position in Urban Edge Properties by 25.9% during the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 563 shares during the last quarter. Signaturefd LLC raised its stake in Urban Edge Properties by 91.6% during the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock worth $51,000 after purchasing an additional 1,317 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Urban Edge Properties by 36.0% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after purchasing an additional 1,221 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Urban Edge Properties by 875.1% during the 3rd quarter. Blue Trust Inc. now owns 7,947 shares of the real estate investment trust’s stock valued at $170,000 after buying an additional 7,132 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

UE has been the topic of several recent analyst reports. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Evercore ISI lifted their price target on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 16th.

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.