Urban Edge Properties (UE) Raised to “Hold” at Zacks Investment Research
Urban Edge Properties (NYSE:UE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
Separately, Credit Suisse Group AG downgraded shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $27.00 to $28.00 in a report on Thursday, August 4th.
Shares of Urban Edge Properties (NYSE:UE) opened at 26.64 on Wednesday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 31.53 and a beta of 0.51. The company has a 50 day moving average of $27.61 and a 200-day moving average of $27.77. Urban Edge Properties has a one year low of $21.77 and a one year high of $30.29.
The company also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date of this dividend was Thursday, September 15th. Urban Edge Properties’s dividend payout ratio (DPR) is presently 91.96%.
Several hedge funds have recently modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in shares of Urban Edge Properties by 3.1% in the second quarter. Daiwa Securities Group Inc. now owns 3,343 shares of the real estate investment trust’s stock worth $100,000 after buying an additional 100 shares during the period. PNC Financial Services Group Inc. boosted its position in Urban Edge Properties by 14.4% in the second quarter. PNC Financial Services Group Inc. now owns 3,407 shares of the real estate investment trust’s stock worth $101,000 after buying an additional 428 shares in the last quarter. BlackRock Japan Co. Ltd boosted its position in Urban Edge Properties by 1.3% in the first quarter. BlackRock Japan Co. Ltd now owns 4,894 shares of the real estate investment trust’s stock worth $126,000 after buying an additional 65 shares in the last quarter. LS Investment Advisors LLC boosted its position in Urban Edge Properties by 72.2% in the second quarter. LS Investment Advisors LLC now owns 5,532 shares of the real estate investment trust’s stock worth $165,000 after buying an additional 2,320 shares in the last quarter. Finally, Northstar Group Inc. bought a new position in Urban Edge Properties during the second quarter worth about $206,000. 90.13% of the stock is owned by institutional investors.
Urban Edge Properties Company Profile
Urban Edge Properties is a real estate investment trust focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. The Company owns approximately 80 shopping centers, over three malls and a warehouse park adjacent to one of its centers.
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