Urban Edge Properties (UE) Plans $0.22 Quarterly Dividend
Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Wednesday, November 8th, Wall Street Journal reports. Stockholders of record on Friday, December 15th will be paid a dividend of 0.22 per share by the real estate investment trust on Friday, December 29th. This represents a $0.88 annualized dividend and a dividend yield of 3.62%. The ex-dividend date of this dividend is Thursday, December 14th.
Urban Edge Properties has a dividend payout ratio of 64.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Urban Edge Properties to earn $1.48 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 59.5%.
Shares of Urban Edge Properties (NYSE:UE) traded up $0.08 during midday trading on Wednesday, hitting $24.28. The stock had a trading volume of 478,808 shares, compared to its average volume of 484,526. The company has a debt-to-equity ratio of 1.36, a quick ratio of 7.58 and a current ratio of 7.58. The firm has a market capitalization of $2,714.54, a P/E ratio of 17.93 and a beta of 0.55. Urban Edge Properties has a fifty-two week low of $23.13 and a fifty-two week high of $28.90.
Several brokerages have recently issued reports on UE. Evercore ISI downgraded Urban Edge Properties from an “in-line” rating to an “underperform” rating and set a $25.00 price objective for the company. in a research report on Monday, August 14th. TheStreet upgraded Urban Edge Properties from a “d” rating to a “c-” rating in a research report on Monday. BidaskClub upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Capital One Financial Corporation reiterated an “equal weight” rating on shares of Urban Edge Properties in a research report on Wednesday, November 1st. Finally, Zacks Investment Research downgraded Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Thursday, October 26th. Two research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Urban Edge Properties presently has a consensus rating of “Hold” and a consensus target price of $25.00.
Urban Edge Properties Company Profile
Urban Edge Properties is a real estate investment trust. The Company is focused on managing, developing, redeveloping and acquiring retail real estate in urban communities, in the New York metropolitan region. Urban Edge Properties LP (UELP or the Operating Partnership) serves as its partnership subsidiary and owns, through affiliates, all of its real estate properties and other assets.
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