Urban Edge Properties (UE) Raised to “Hold” at Zacks Investment Research
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. “
Several other equities analysts have also recently commented on UE. ValuEngine cut shares of Urban Edge Properties from a hold rating to a sell rating in a research note on Tuesday, December 25th. Evercore ISI cut shares of Urban Edge Properties from an in-line rating to an underperform rating in a research note on Tuesday, February 19th.
Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.27). The company had revenue of $100.92 million for the quarter, compared to analyst estimates of $95.91 million. Urban Edge Properties had a net margin of 25.39% and a return on equity of 10.41%. As a group, research analysts forecast that Urban Edge Properties will post 1.25 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were paid a $0.22 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.88 annualized dividend and a dividend yield of 4.74%. Urban Edge Properties’s dividend payout ratio is currently 67.18%.
In other news, Director Steven Roth sold 5,717,184 shares of Urban Edge Properties stock in a transaction that occurred on Thursday, February 28th. The shares were sold at an average price of $18.98, for a total value of $108,512,152.32. Following the transaction, the director now owns 1,327,326 shares of the company’s stock, valued at approximately $25,192,647.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Two Sigma Investments LP grew its stake in shares of Urban Edge Properties by 93.8% in the 4th quarter. Two Sigma Investments LP now owns 572,430 shares of the real estate investment trust’s stock worth $9,514,000 after purchasing an additional 277,086 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in shares of Urban Edge Properties in the fourth quarter worth about $690,000. Renaissance Technologies LLC acquired a new position in shares of Urban Edge Properties in the third quarter worth about $6,962,000. Retirement Systems of Alabama boosted its holdings in shares of Urban Edge Properties by 0.6% in the fourth quarter. Retirement Systems of Alabama now owns 148,132 shares of the real estate investment trust’s stock worth $2,462,000 after buying an additional 847 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of Urban Edge Properties by 305.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 762,154 shares of the real estate investment trust’s stock worth $12,667,000 after buying an additional 574,220 shares during the period. 83.59% of the stock is currently owned by institutional investors.
About Urban Edge Properties
Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 88 properties totaling 16.3 million square feet of gross leasable area.
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