Urban Edge Properties (NYSE:UE) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Urban Edge Properties (NYSE:UE) have received a consensus rating of “Hold” from the six research firms that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $23.20.

Several equities analysts have recently weighed in on the stock. BTIG Research reiterated a “buy” rating and issued a $25.00 price objective on shares of Urban Edge Properties in a research note on Friday, June 12th. UBS Group lifted their price target on shares of Urban Edge Properties from $22.00 to $24.00 and gave the company a “neutral” rating in a report on Thursday, July 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Urban Edge Properties in a research report on Friday, July 24th.

Urban Edge Properties Stock Performance

Urban Edge Properties stock opened at $22.02 on Thursday. Urban Edge Properties has a twelve month low of $18.46 and a twelve month high of $24.11. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $2.77 billion, a P/E ratio of 25.60 and a beta of 0.98. The stock’s 50 day moving average is $22.91 and its 200 day moving average is $21.56.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 19,034 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $21.62, for a total transaction of $411,515.08. Following the sale, the chief executive officer directly owned 3,665 shares of the company’s stock, valued at $79,237.30. This represents a 83.85% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

Institutional Trading of Urban Edge Properties

Several hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of Urban Edge Properties by 6.9% during the second quarter. GAMMA Investing LLC now owns 7,251 shares of the real estate investment trust’s stock valued at $166,000 after buying an additional 471 shares during the last quarter. Amundi boosted its position in Urban Edge Properties by 0.6% during the fourth quarter. Amundi now owns 86,306 shares of the real estate investment trust’s stock worth $1,656,000 after purchasing an additional 535 shares in the last quarter. ProShare Advisors LLC grew its holdings in Urban Edge Properties by 3.2% in the fourth quarter. ProShare Advisors LLC now owns 24,728 shares of the real estate investment trust’s stock valued at $475,000 after purchasing an additional 776 shares during the period. Handelsbanken Fonder AB grew its stake in Urban Edge Properties by 1.8% in the 2nd quarter. Handelsbanken Fonder AB now owns 44,590 shares of the real estate investment trust’s stock valued at $1,020,000 after acquiring an additional 800 shares during the period. Finally, California State Teachers Retirement System increased its holdings in Urban Edge Properties by 0.7% in the 2nd quarter. California State Teachers Retirement System now owns 112,542 shares of the real estate investment trust’s stock worth $2,100,000 after acquiring an additional 816 shares in the last quarter. 94.94% of the stock is currently owned by hedge funds and other institutional investors.

Urban Edge Properties Company Profile

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.