Urban Edge Properties Declares Quarterly Dividend of $0.17 (NYSE:UE)

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.68 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend is Friday, December 13th.

Urban Edge Properties has increased its dividend payment by an average of 42.8% per year over the last three years. Urban Edge Properties has a payout ratio of 170.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Urban Edge Properties to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 49.3%.

Urban Edge Properties Stock Performance

NYSE:UE opened at $22.50 on Wednesday. The stock has a 50-day moving average price of $22.41 and a 200 day moving average price of $20.51. The stock has a market capitalization of $2.81 billion, a P/E ratio of 10.09 and a beta of 1.53. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. The business 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%. Equities research analysts forecast that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Insider Buying and Selling at Urban Edge Properties

In other news, CFO Mark Langer sold 93,962 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now directly owns 35,816 shares in the company, valued at approximately $844,183.12. This represents a 72.40 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, Evercore ISI boosted their price target on shares of 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.

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.