Zacks Investment Research cut shares of Urban Edge Properties (NYSE:UE) from a hold rating to a sell rating in a research report sent to investors 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. “

UE has been the subject of a number of other reports. ValuEngine raised shares of Urban Edge Properties from a sell rating to a hold rating in a report on Friday, January 25th. Evercore ISI cut shares of Urban Edge Properties from an in-line rating to an underperform rating in a report on Tuesday, February 19th.

Shares of Urban Edge Properties stock opened at $18.94 on Friday. Urban Edge Properties has a 12-month low of $16.13 and a 12-month high of $23.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 14.46 and a beta of 0.94.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, February 13th. The real estate investment trust reported $0.06 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.27). Urban Edge Properties had a net margin of 25.39% and a return on equity of 10.41%. The company had revenue of $100.92 million during the quarter, compared to analysts’ expectations of $95.91 million. As a group, sell-side analysts predict that Urban Edge Properties will post 1.25 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were issued a $0.22 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.88 dividend on an annualized basis and a yield of 4.65%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 67.18%.

In other Urban Edge Properties news, Director Steven Roth sold 5,717,184 shares of the stock in a transaction dated Thursday, February 28th. The shares were sold at an average price of $18.98, for a total value of $108,512,152.32. Following the completion of the transaction, the director now directly owns 1,327,326 shares of the company’s stock, valued at $25,192,647.48. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 4.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of UE. BBR Partners LLC purchased a new position in shares of Urban Edge Properties during the 4th quarter worth approximately $26,444,000. Norges Bank purchased a new position in shares of Urban Edge Properties during the 4th quarter worth approximately $25,185,000. BlackRock Inc. increased its stake in shares of Urban Edge Properties by 6.8% during the 3rd quarter. BlackRock Inc. now owns 16,190,364 shares of the real estate investment trust’s stock worth $357,482,000 after purchasing an additional 1,028,318 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Urban Edge Properties by 1,703.9% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 754,166 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 712,358 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Urban Edge Properties by 305.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 762,154 shares of the real estate investment trust’s stock worth $12,667,000 after purchasing an additional 574,220 shares in the last quarter. 83.61% of the stock is owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 88 properties totaling 16.3 million square feet of gross leasable area.

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