Urban Edge Properties (UE) to Issue Quarterly Dividend of $0.17 on December 31st

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 13th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 3.02%. The ex-dividend date of this dividend is Friday, December 13th.

Urban Edge Properties has raised its dividend by an average of 42.8% per year over the last three years. Urban Edge Properties has a payout ratio of 170.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Urban Edge Properties to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 49.3%.

Urban Edge Properties Stock Down 0.6 %

Shares of Urban Edge Properties stock opened at $22.50 on Wednesday. The company has a 50-day simple moving average of $22.41 and a two-hundred day simple moving average of $20.51. The stock has a market capitalization of $2.81 billion, a PE ratio of 10.09 and a beta of 1.53. Urban Edge Properties has a 52-week low of $15.81 and a 52-week high of $23.85. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.30.

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

Analyst Upgrades and Downgrades

Separately, Evercore ISI lifted their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research report on Monday, September 16th.

Insiders Place Their Bets

In other news, CFO Mark Langer sold 93,962 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now directly owns 35,816 shares in the company, valued at $844,183.12. This represents a 72.40 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.10% of the company’s stock.

Urban Edge Properties Company Profile

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.