Zacks Investment Research lowered shares of Urban Edge Properties (NYSE:UE) from a hold rating to a sell rating in a research report report published 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 target price for the stock from $27.00 to $28.00 in a research report on Thursday, August 4th.

Shares of Urban Edge Properties (NYSE:UE) opened at 27.16 on Tuesday. The stock has a 50 day moving average price of $29.03 and a 200 day moving average price of $27.39. The firm has a market capitalization of $2.70 billion, a P/E ratio of 32.14 and a beta of 0.50. Urban Edge Properties has a 52 week low of $20.84 and a 52 week high of $30.29.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Monday, September 19th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.95%. The ex-dividend date of this dividend is Thursday, September 15th. Urban Edge Properties’s dividend payout ratio is presently 91.96%.

A number of hedge funds have recently bought and sold shares of UE. Metropolitan Life Insurance Co. NY increased its stake in Urban Edge Properties by 2.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 147,784 shares of the real estate investment trust’s stock valued at $3,819,000 after buying an additional 2,858 shares in the last quarter. Legal & General Group Plc increased its stake in Urban Edge Properties by 14.7% in the first quarter. Legal & General Group Plc now owns 188,578 shares of the real estate investment trust’s stock valued at $4,873,000 after buying an additional 24,233 shares in the last quarter. Geode Capital Management LLC increased its stake in Urban Edge Properties by 7.0% in the first quarter. Geode Capital Management LLC now owns 750,317 shares of the real estate investment trust’s stock valued at $19,388,000 after buying an additional 49,151 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Urban Edge Properties by 1.3% in the first quarter. Goldman Sachs Group Inc. now owns 277,125 shares of the real estate investment trust’s stock valued at $7,161,000 after buying an additional 3,531 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Urban Edge Properties by 0.8% in the first quarter. M&T Bank Corp now owns 13,002 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 97 shares in the last quarter. 90.16% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

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.

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