Urban Edge Properties (NYSE:UE) Reaches New 1-Year High at $20.00

Urban Edge Properties (NYSE:UE) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $20.00 and last traded at $19.85, with a volume of 76683 shares. The stock had previously closed at $19.73.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Thursday, July 4th.

Urban Edge Properties Stock Up 1.4 %

The firm has a 50 day simple moving average of $18.04 and a two-hundred day simple moving average of $17.41. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.76 and a current ratio of 1.76. The stock has a market cap of $2.38 billion, a P/E ratio of 8.59 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Tuesday, May 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.28). The business had revenue of $109.63 million for the quarter, compared to the consensus estimate of $106.38 million. Urban Edge Properties had a net margin of 63.27% and a return on equity of 24.36%. Equities research analysts predict that Urban Edge Properties will post 1.27 earnings per share for the current year.

Urban Edge Properties Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Friday, June 14th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 29.57%.

Hedge Funds Weigh In On Urban Edge Properties

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Urban Edge Properties by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 18,546,753 shares of the real estate investment trust’s stock valued at $320,302,000 after purchasing an additional 191,258 shares during the period. Westwood Holdings Group Inc. increased its position in shares of Urban Edge Properties by 12.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,572,054 shares of the real estate investment trust’s stock valued at $78,959,000 after purchasing an additional 516,317 shares during the period. Centersquare Investment Management LLC increased its position in shares of Urban Edge Properties by 15.8% during the 1st quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock valued at $36,334,000 after purchasing an additional 296,324 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Urban Edge Properties by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,132,349 shares of the real estate investment trust’s stock valued at $39,022,000 after purchasing an additional 41,478 shares during the period. Finally, Jennison Associates LLC increased its position in shares of Urban Edge Properties by 98.6% during the 1st quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock valued at $34,659,000 after purchasing an additional 996,287 shares during the period. 94.94% of the stock is currently owned by institutional investors and hedge funds.

About Urban Edge Properties

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.