Short Interest in Urban Edge Properties (NYSE:UE) Declines By 13.7%

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Urban Edge Properties (NYSE:UE) saw a significant decrease in short interest in November. As of November 29th, there was short interest totalling 3,600,000 shares, a decrease of 13.7% from the November 14th total of 4,170,000 shares. Based on an average trading volume of 922,200 shares, the short-interest ratio is presently 3.9 days. Approximately 3.1% of the company’s shares are short sold.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP acquired a new stake in Urban Edge Properties during the 2nd quarter valued at $782,000. Vanguard Group Inc. grew its holdings in Urban Edge Properties by 1.7% during the 2nd quarter. Vanguard Group Inc. now owns 17,088,622 shares of the real estate investment trust’s stock valued at $296,145,000 after purchasing an additional 282,263 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Urban Edge Properties by 2,251.0% during the 2nd quarter. Pacer Advisors Inc. now owns 50,358 shares of the real estate investment trust’s stock valued at $873,000 after purchasing an additional 48,216 shares in the last quarter. BlackRock Inc. grew its holdings in Urban Edge Properties by 2.0% during the 2nd quarter. BlackRock Inc. now owns 16,530,870 shares of the real estate investment trust’s stock valued at $286,481,000 after purchasing an additional 320,334 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Urban Edge Properties by 16.8% during the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 23,323 shares of the real estate investment trust’s stock valued at $404,000 after purchasing an additional 3,351 shares in the last quarter. 90.01% of the stock is owned by institutional investors and hedge funds.

Several research firms have recently issued reports on UE. Zacks Investment Research lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Thursday, December 5th. ValuEngine raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Saturday, December 7th. Finally, Compass Point began coverage on shares of Urban Edge Properties in a research report on Thursday, August 15th. They issued a “buy” rating and a $20.00 price objective for the company.

Shares of Urban Edge Properties stock traded down $0.38 during trading hours on Friday, hitting $18.97. The company’s stock had a trading volume of 1,404,433 shares, compared to its average volume of 849,755. Urban Edge Properties has a 1-year low of $15.96 and a 1-year high of $21.74. The business has a fifty day moving average of $20.76 and a 200 day moving average of $18.71. The company has a market capitalization of $2.40 billion, a PE ratio of 14.47 and a beta of 0.87. The company has a quick ratio of 7.97, a current ratio of 7.97 and a debt-to-equity ratio of 1.49.

Urban Edge Properties (NYSE:UE) last released its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.15. The company had revenue of $91.24 million during the quarter, compared to analyst estimates of $94.02 million. Urban Edge Properties had a net margin of 28.69% and a return on equity of 11.11%. On average, sell-side analysts anticipate that Urban Edge Properties will post 1.17 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s payout ratio is 67.18%.

Urban Edge Properties Company Profile

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 87 properties totaling 16.1 million square feet of gross leasable area.

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