Urban Edge Properties (UE) Shares Gap Up to $27.59
Urban Edge Properties (NYSE:UE) shares gapped up before the market opened on Tuesday . The stock had previously closed at $27.58, but opened at $27.59. Urban Edge Properties shares last traded at $27.60, with a volume of 235,989 shares traded.
A number of research firms have weighed in on UE. Zacks Investment Research raised shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, July 13th. Credit Suisse Group AG lowered shares of Urban Edge Properties from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $27.00 to $28.00 in a research report on Thursday, August 4th.
The company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 32.66 and a beta of 0.50. The company’s 50-day moving average price is $28.70 and its 200 day moving average price is $27.49.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Monday, September 19th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.90%. The ex-dividend date is Thursday, September 15th. Urban Edge Properties’s dividend payout ratio (DPR) is currently 91.96%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Urban Edge Properties by 56.9% in the second quarter. FMR LLC now owns 10,979,607 shares of the real estate investment trust’s stock worth $327,851,000 after buying an additional 3,982,277 shares during the period. Brookfield Asset Management Inc. acquired a new position in Urban Edge Properties during the second quarter worth $70,155,000. Prudential Financial Inc. increased its position in Urban Edge Properties by 711.0% in the first quarter. Prudential Financial Inc. now owns 509,838 shares of the real estate investment trust’s stock worth $13,174,000 after buying an additional 446,970 shares during the period. Vanguard Group Inc. increased its position in Urban Edge Properties by 2.7% in the second quarter. Vanguard Group Inc. now owns 15,055,030 shares of the real estate investment trust’s stock worth $449,543,000 after buying an additional 390,051 shares during the period. Finally, RS Investment Management Co. LLC increased its position in Urban Edge Properties by 76.3% in the second quarter. RS Investment Management Co. LLC now owns 723,690 shares of the real estate investment trust’s stock worth $21,609,000 after buying an additional 313,100 shares during the period. 90.16% of the stock is owned by institutional investors and hedge funds.
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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