Urban Edge Properties (NYSE:UE) Hits New 1-Year High Following Dividend Announcement

Urban Edge Properties (NYSE:UE) hit a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $23.48 and last traded at $23.17, with a volume of 3203 shares. The stock had previously closed at $22.73.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a yield of 2.94%. Urban Edge Properties’s dividend payout ratio is currently 30.49%.

Analyst Ratings Changes

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

Urban Edge Properties Price Performance

The firm has a market capitalization of $2.89 billion, a P/E ratio of 10.38 and a beta of 1.54. The business’s 50-day simple moving average is $21.51 and its 200 day simple moving average is $19.51. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Urban Edge Properties by 1.0% in the first quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock worth $320,302,000 after purchasing an additional 191,258 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Urban Edge Properties by 12.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock worth $78,959,000 after acquiring an additional 516,317 shares during the last quarter. Centersquare Investment Management LLC grew its stake in shares of Urban Edge Properties by 15.8% in the first quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock worth $36,334,000 after purchasing an additional 296,324 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Urban Edge Properties by 7.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,757,044 shares of the real estate investment trust’s stock valued at $32,452,000 after buying an additional 117,152 shares during the period. Finally, American Century Companies Inc. lifted its stake in Urban Edge Properties by 48.4% in the second quarter. American Century Companies Inc. now owns 1,406,251 shares of the real estate investment trust’s stock worth $25,973,000 after acquiring an additional 458,951 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.