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

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

Urban Edge Properties Price Performance

Shares of NYSE:UE opened at $21.60 on Tuesday. 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 has a twelve month low of $15.81 and a twelve month high of $23.85. The firm has a market capitalization of $2.70 billion, a PE ratio of 9.69 and a beta of 1.53. The company has a 50-day moving average price of $22.53 and a two-hundred day moving average price of $20.84.

Urban Edge Properties (NYSE:UE) last issued 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%. Equities analysts forecast that Urban Edge Properties will post 1.32 EPS for the current year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 annualized dividend and a dividend yield of 3.15%. Urban Edge Properties’s payout ratio is 30.49%.

Insider Activity

In related 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 value of $5,388,000.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Mark Langer sold 93,962 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.57, for a total value of $2,214,684.34. Following the sale, the chief financial officer now owns 35,816 shares in the company, valued at $844,183.12. The trade was a 72.40 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Urban Edge Properties

A number of hedge funds have recently made changes to their positions in UE. Wellington Management Group LLP lifted its holdings in shares of Urban Edge Properties by 1,499.6% during the 3rd quarter. Wellington Management Group LLP now owns 1,599,628 shares of the real estate investment trust’s stock valued at $34,216,000 after purchasing an additional 1,499,628 shares during the last quarter. FMR LLC increased its position in Urban Edge Properties by 8.6% during the 3rd quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust’s stock valued at $297,568,000 after buying an additional 1,096,560 shares in the last quarter. Marshall Wace LLP purchased a new stake in Urban Edge Properties in the second quarter valued at about $19,326,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Urban Edge Properties by 438.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 782,921 shares of the real estate investment trust’s stock worth $16,747,000 after acquiring an additional 637,587 shares in the last quarter. Finally, American Century Companies Inc. grew its stake in shares of Urban Edge Properties by 48.4% during 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 last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

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.