Urban Edge Properties (NYSE:UE) Stock Rating Lowered by Zacks Investment Research

Urban Edge Properties (NYSE:UE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday, Zacks.com reports.

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 analysts have also recently issued reports on the company. Wolfe Research assumed coverage on Urban Edge Properties in a report on Thursday. They set an “outperform” rating and a $24.00 price objective on the stock. Evercore ISI raised Urban Edge Properties from an “in-line” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Monday, September 20th. Finally, Morgan Stanley boosted their target price on Urban Edge Properties from $17.25 to $18.75 and gave the company an “underweight” rating in a research report on Friday, June 11th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Urban Edge Properties currently has an average rating of “Hold” and an average price target of $19.75.

UE stock opened at $18.16 on Friday. Urban Edge Properties has a twelve month low of $9.12 and a twelve month high of $20.33. The company has a quick ratio of 6.08, a current ratio of 6.08 and a debt-to-equity ratio of 1.58. The stock has a market cap of $2.13 billion, a P/E ratio of 46.57 and a beta of 1.78. The business’s 50-day moving average price is $18.62 and its 200-day moving average price is $18.58.

Urban Edge Properties (NYSE:UE) last posted its quarterly earnings results on Wednesday, August 4th. The real estate investment trust reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.15). Urban Edge Properties had a return on equity of 4.54% and a net margin of 12.93%. The business had revenue of $94.01 million during the quarter, compared to analysts’ expectations of $89.72 million. On average, equities research analysts expect that Urban Edge Properties will post 1.07 earnings per share for the current fiscal year.

In other Urban Edge Properties news, General Counsel Robert C. Milton III sold 3,177 shares of the stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $18.05, for a total value of $57,344.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.40% of the company’s stock.

Several hedge funds have recently made changes to their positions in UE. Group One Trading L.P. acquired a new position in shares of Urban Edge Properties in the second quarter valued at about $29,000. Eaton Vance Management acquired a new position in shares of Urban Edge Properties in the first quarter valued at about $31,000. Bbva USA acquired a new position in shares of Urban Edge Properties in the second quarter valued at about $34,000. Dark Forest Capital Management LP acquired a new position in shares of Urban Edge Properties in the second quarter valued at about $42,000. Finally, Advisor Group Holdings Inc. increased its holdings in shares of Urban Edge Properties by 371.9% in the second quarter. Advisor Group Holdings Inc. now owns 4,063 shares of the real estate investment trust’s stock valued at $77,000 after purchasing an additional 3,202 shares during the period. 93.37% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

Urban Edge Properties is a real estate investment trust, which engages in the acquisition, development, and management of commercial properties. Its portfolio includes shopping centers, malls, and warehouse parks. The company was founded on June 18, 2014 and is headquartered in New York, NY.

See Also: Channel Trading

Get a free copy of the Zacks research report on Urban Edge Properties (UE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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 MarketBeat.com's FREE daily email newsletter.