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

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

Urban Edge Properties Stock Up 0.5 %

Urban Edge Properties stock opened at $21.59 on Tuesday. The firm has a market capitalization of $2.70 billion, a P/E ratio of 9.68 and a beta of 1.53. The company has a 50-day simple moving average of $22.55 and a 200-day simple moving average of $20.83. Urban Edge Properties has a one year low of $15.81 and a one year 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 posted its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The firm had revenue of $112.26 million during the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. As a group, equities analysts expect that Urban Edge Properties will post 1.32 earnings per share for the current year.

Urban Edge Properties Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the transaction, the chief financial officer now owns 35,816 shares in the company, valued at $844,183.12. This trade represents a 72.40 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jeffrey S. Olson sold 240,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total value of $5,388,000.00. Following the sale, the chief executive officer now directly owns 1,931 shares in the company, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Urban Edge Properties

Several institutional investors have recently modified their holdings of the company. FMR LLC grew its holdings in Urban Edge Properties by 8.6% during the third quarter. FMR LLC now owns 13,911,571 shares of the real estate investment trust’s stock worth $297,568,000 after acquiring an additional 1,096,560 shares during the period. State Street Corp grew its stake in shares of Urban Edge Properties by 2.6% in the 3rd quarter. State Street Corp now owns 6,990,363 shares of the real estate investment trust’s stock worth $149,524,000 after purchasing an additional 177,745 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Urban Edge Properties by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 3,109,608 shares of the real estate investment trust’s stock worth $66,525,000 after purchasing an additional 130,854 shares in the last quarter. Jennison Associates LLC lifted its stake in Urban Edge Properties by 7.8% during the third quarter. Jennison Associates LLC now owns 2,966,029 shares of the real estate investment trust’s stock valued at $63,443,000 after purchasing an additional 215,879 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Urban Edge Properties by 4.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,271,201 shares of the real estate investment trust’s stock valued at $48,581,000 after purchasing an additional 101,111 shares during the last quarter. Institutional investors and hedge funds 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.