Urban Edge Properties (NYSE:UE) Hits New 52-Week High After Dividend Announcement

Urban Edge Properties (NYSE:UE)’s stock price hit a new 52-week high during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $23.48 and last traded at $23.17, with a volume of 3203 shares trading hands. The stock had previously closed at $22.73.

The newly announced dividend which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Friday, December 13th. Urban Edge Properties’s payout ratio is 30.49%.

Analyst Upgrades and Downgrades

UE has been the topic of a number of research analyst reports. Evercore ISI boosted their target price on Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

Urban Edge Properties Price Performance

The firm has a market cap of $2.89 billion, a PE ratio of 10.38 and a beta of 1.54. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The business’s fifty day moving average is $21.51 and its 200-day moving average is $19.51.

Urban Edge Properties (NYSE:UE) last released its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. The firm had revenue of $112.26 million during the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. On average, research analysts predict that Urban Edge Properties will post 1.32 earnings per share for the current fiscal year.

Institutional Trading of Urban Edge Properties

Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its holdings in Urban Edge Properties by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 25,342 shares of the real estate investment trust’s stock worth $438,000 after acquiring an additional 2,135 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Urban Edge Properties by 36.9% in the first quarter. BNP Paribas Financial Markets now owns 61,209 shares of the real estate investment trust’s stock worth $1,057,000 after purchasing an additional 16,493 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Urban Edge Properties by 19.6% in the first quarter. Daiwa Securities Group Inc. now owns 42,704 shares of the real estate investment trust’s stock worth $738,000 after purchasing an additional 7,012 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Urban Edge Properties by 1.4% in the first quarter. Texas Permanent School Fund Corp now owns 102,959 shares of the real estate investment trust’s stock valued at $1,778,000 after purchasing an additional 1,377 shares during the period. Finally, ClariVest Asset Management LLC lifted its stake in shares of Urban Edge Properties by 78.0% during the 1st quarter. ClariVest Asset Management LLC now owns 66,706 shares of the real estate investment trust’s stock valued at $1,152,000 after buying an additional 29,221 shares in the last quarter. 94.94% of the stock is owned by hedge funds and other institutional investors.

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.