Urban Edge Properties (NYSE:UE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Tuesday.

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 cut Urban Edge Properties from an “outperform” rating to a “neutral” rating and raised their price target for the company from $27.00 to $28.00 in a report on Thursday, August 4th.

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Urban Edge Properties (NYSE:UE) traded up 0.04% during midday trading on Tuesday, hitting $27.60. The stock had a trading volume of 303,325 shares. The company has a 50-day moving average price of $28.77 and a 200-day moving average price of $27.47. The stock has a market cap of $2.74 billion, a P/E ratio of 32.66 and a beta of 0.50. Urban Edge Properties has a 52 week low of $20.84 and a 52 week high of $30.29.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.90%. Urban Edge Properties’s dividend payout ratio is 91.96%.

Several institutional investors have recently made changes to their positions in UE. Mason Street Advisors LLC purchased a new position in shares of Urban Edge Properties during the second quarter worth $1,259,000. Royal Bank of Canada boosted its position in shares of Urban Edge Properties by 12.9% in the second quarter. Royal Bank of Canada now owns 13,671 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 1,560 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Urban Edge Properties by 11.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 683,309 shares of the real estate investment trust’s stock worth $20,404,000 after buying an additional 69,398 shares in the last quarter. Amalgamated Bank boosted its position in shares of Urban Edge Properties by 11.3% in the second quarter. Amalgamated Bank now owns 10,870 shares of the real estate investment trust’s stock worth $319,000 after buying an additional 1,103 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Urban Edge Properties by 14.9% in the second quarter. Legal & General Group Plc now owns 216,679 shares of the real estate investment trust’s stock worth $6,464,000 after buying an additional 28,101 shares in the last quarter. 90.16% of the stock is currently owned by institutional investors.

About Urban Edge Properties

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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