Urban Edge Properties (NYSE:UE) Downgraded by Zacks Investment Research

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

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, StockNews.com began coverage on shares of Urban Edge Properties in a research report on Thursday, March 31st. They set a “hold” rating for the company. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. According to MarketBeat, Urban Edge Properties has an average rating of “Hold” and an average price target of $20.94.

UE stock opened at $19.01 on Tuesday. The firm’s 50 day moving average is $18.72. Urban Edge Properties has a 12-month low of $16.61 and a 12-month high of $20.33. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a market cap of $2.23 billion, a P/E ratio of 21.60 and a beta of 1.62.

Urban Edge Properties (NYSE:UEGet Rating) last posted its quarterly earnings results on Wednesday, February 16th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.09. Urban Edge Properties had a net margin of 24.16% and a return on equity of 10.11%. The company had revenue of $128.58 million during the quarter, compared to the consensus estimate of $94.98 million. During the same period last year, the firm earned $0.23 EPS. As a group, equities research analysts expect that Urban Edge Properties will post 1.18 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. grew its stake in Urban Edge Properties by 4.8% in the 4th quarter. BlackRock Inc. now owns 15,848,148 shares of the real estate investment trust’s stock worth $301,114,000 after acquiring an additional 722,258 shares during the period. Invesco Ltd. grew its stake in Urban Edge Properties by 22.9% in the 3rd quarter. Invesco Ltd. now owns 8,118,864 shares of the real estate investment trust’s stock worth $148,657,000 after acquiring an additional 1,510,700 shares during the period. State Street Corp grew its stake in Urban Edge Properties by 5.8% in the 4th quarter. State Street Corp now owns 5,919,403 shares of the real estate investment trust’s stock worth $112,469,000 after acquiring an additional 325,489 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Urban Edge Properties by 6.4% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 4,082,295 shares of the real estate investment trust’s stock worth $77,563,000 after acquiring an additional 247,069 shares during the period. Finally, Westwood Holdings Group Inc. grew its stake in Urban Edge Properties by 50.3% in the 4th quarter. Westwood Holdings Group Inc. now owns 3,456,635 shares of the real estate investment trust’s stock worth $65,677,000 after acquiring an additional 1,156,107 shares during the period. 94.14% of the stock is owned by hedge funds and other institutional investors.

About Urban Edge Properties (Get Rating)

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 78 properties totaling 15.1 million square feet of gross leasable area.

Further Reading

Get a free copy of the Zacks research report on Urban Edge Properties (UE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Urban Edge Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urban Edge Properties and related companies with MarketBeat.com's FREE daily email newsletter.