Urban Edge Properties (NYSE:UE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

According to Zacks, “Urban Edge Properties is a real estate investment trust that acquires, develops, owns, manages and improves shopping centers in and on the edge of urban communities. It operates within the United States. Urban Edge Properties is based in United States. “

Separately, Credit Suisse Group AG lowered shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and upped their price objective for the stock from $27.00 to $28.00 in a research note on Thursday, August 4th.

Shares of Urban Edge Properties (NYSE:UE) traded up 0.25% during mid-day trading on Tuesday, hitting $27.66. 6,814 shares of the stock were exchanged. Urban Edge Properties has a 52-week low of $20.84 and a 52-week high of $30.29. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 32.73 and a beta of 0.50. The stock has a 50-day moving average price of $28.77 and a 200 day moving average price of $27.47.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.90%. The ex-dividend date is Thursday, September 15th. Urban Edge Properties’s payout ratio is 91.96%.

Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC raised its stake in Urban Edge Properties by 56.9% in the second quarter. FMR LLC now owns 10,979,607 shares of the real estate investment trust’s stock valued at $327,851,000 after buying an additional 3,982,277 shares during the last quarter. Brookfield Asset Management Inc. purchased a new stake in Urban Edge Properties during the second quarter valued at approximately $70,155,000. Prudential Financial Inc. raised its stake in Urban Edge Properties by 711.0% in the first quarter. Prudential Financial Inc. now owns 509,838 shares of the real estate investment trust’s stock valued at $13,174,000 after buying an additional 446,970 shares during the last quarter. Vanguard Group Inc. raised its stake in Urban Edge Properties by 2.7% in the second quarter. Vanguard Group Inc. now owns 15,055,030 shares of the real estate investment trust’s stock valued at $449,543,000 after buying an additional 390,051 shares during the last quarter. Finally, RS Investment Management Co. LLC raised its stake in Urban Edge Properties by 76.3% in the second quarter. RS Investment Management Co. LLC now owns 723,690 shares of the real estate investment trust’s stock valued at $21,609,000 after buying an additional 313,100 shares during the last quarter. 90.16% of the stock is owned by institutional investors and hedge funds.

About Urban Edge Properties

Urban Edge Properties is a real estate investment trust focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. The Company owns approximately 80 shopping centers, over three malls and a warehouse park adjacent to one of its centers.

5 Day Chart for NYSE:UE

Receive News & Ratings for Urban Edge Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Edge Properties and related companies with Analyst Ratings Network's FREE daily email newsletter.