Urban Edge Properties (NYSE:UE) Receives Average Rating of “Hold” from Analysts

Shares of Urban Edge Properties (NYSE:UE) have earned a consensus recommendation of “Hold” from the six brokerages that are currently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $22.00.

Several research analysts have weighed in on the company. UBS Group lowered their target price on Urban Edge Properties from $21.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 8th. Weiss Ratings upgraded shares of Urban Edge Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, December 29th. Finally, Morgan Stanley upped their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research report on Monday, January 5th.

Institutional Investors Weigh In On Urban Edge Properties

Institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP purchased a new position in shares of Urban Edge Properties during the 3rd quarter worth approximately $92,600,000. Hudson Bay Capital Management LP grew its holdings in Urban Edge Properties by 47.2% during the second quarter. Hudson Bay Capital Management LP now owns 1,949,069 shares of the real estate investment trust’s stock worth $36,370,000 after acquiring an additional 624,645 shares during the period. Bayhunt Capital LLC purchased a new position in Urban Edge Properties in the fourth quarter worth $10,430,000. American Century Companies Inc. lifted its holdings in Urban Edge Properties by 44.4% in the third quarter. American Century Companies Inc. now owns 1,320,089 shares of the real estate investment trust’s stock valued at $27,022,000 after acquiring an additional 405,723 shares during the period. Finally, Alyeska Investment Group L.P. lifted its holdings in Urban Edge Properties by 30.1% in the third quarter. Alyeska Investment Group L.P. now owns 1,746,238 shares of the real estate investment trust’s stock valued at $35,745,000 after acquiring an additional 403,813 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Trading Down 0.9%

Shares of Urban Edge Properties stock opened at $20.84 on Thursday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.61 and a current ratio of 2.61. The company has a market capitalization of $2.62 billion, a P/E ratio of 23.42 and a beta of 1.06. Urban Edge Properties has a 1 year low of $15.66 and a 1 year high of $21.73. The company’s fifty day moving average is $19.33 and its two-hundred day moving average is $19.68.

About Urban Edge Properties

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.