Urban Edge Properties (NYSE:UE) Announces $0.19 Quarterly Dividend

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Monday, December 15th will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Monday, December 15th.

Urban Edge Properties has decreased its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend every year for the last 2 years. Urban Edge Properties has a payout ratio of 155.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Urban Edge Properties to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 53.9%.

Urban Edge Properties Stock Performance

NYSE UE traded up $0.36 during trading hours on Friday, hitting $19.07. The company’s stock had a trading volume of 360,794 shares, compared to its average volume of 964,416. Urban Edge Properties has a 12 month low of $15.66 and a 12 month high of $23.85. The company’s 50 day simple moving average is $20.16 and its two-hundred day simple moving average is $19.37. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.61 and a quick ratio of 2.61. The company has a market cap of $2.40 billion, a P/E ratio of 21.42 and a beta of 1.25.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Urban Edge Properties had a net margin of 23.73% and a return on equity of 8.10%. The firm had revenue of $119.20 million for the quarter, compared to the consensus estimate of $117.85 million. Urban Edge Properties has set its FY 2025 guidance at 1.420-1.440 EPS. As a group, sell-side analysts expect that Urban Edge Properties will post 1.4 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Urban Edge Properties in the first quarter valued at about $30,837,000. Westwood Holdings Group Inc. raised its stake in Urban Edge Properties by 35.4% during the 1st quarter. Westwood Holdings Group Inc. now owns 3,945,310 shares of the real estate investment trust’s stock valued at $74,961,000 after purchasing an additional 1,031,587 shares during the period. Hudson Bay Capital Management LP lifted its holdings in Urban Edge Properties by 47.2% in the 2nd quarter. Hudson Bay Capital Management LP now owns 1,949,069 shares of the real estate investment trust’s stock worth $36,370,000 after purchasing an additional 624,645 shares in the last quarter. Algert Global LLC boosted its stake in Urban Edge Properties by 872.7% in the 1st quarter. Algert Global LLC now owns 464,227 shares of the real estate investment trust’s stock worth $8,820,000 after purchasing an additional 416,502 shares during the period. Finally, Vanguard Group Inc. grew its holdings in Urban Edge Properties by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 20,299,913 shares of the real estate investment trust’s stock valued at $385,698,000 after buying an additional 337,717 shares in the last quarter. Institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Company Profile

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.