Capital One Financial Weighs in on Urban Edge Properties’ Q2 2022 Earnings (NYSE:UE)

Urban Edge Properties (NYSE:UEGet Rating) – Analysts at Capital One Financial dropped their Q2 2022 EPS estimates for shares of Urban Edge Properties in a report released on Monday, April 25th. Capital One Financial analyst C. Lucas now expects that the real estate investment trust will post earnings of $0.28 per share for the quarter, down from their prior estimate of $0.30. Capital One Financial also issued estimates for Urban Edge Properties’ Q3 2022 earnings at $0.30 EPS, FY2022 earnings at $1.18 EPS, Q1 2023 earnings at $0.31 EPS, Q2 2023 earnings at $0.29 EPS, Q3 2023 earnings at $0.31 EPS, FY2023 earnings at $1.24 EPS, Q1 2024 earnings at $0.32 EPS, FY2024 earnings at $1.29 EPS and FY2025 earnings at $1.37 EPS.

Several other research analysts have also issued reports on UE. StockNews.com initiated coverage on Urban Edge Properties in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research lowered Urban Edge Properties from a “hold” rating to a “sell” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $20.94.

Shares of UE stock opened at $18.98 on Wednesday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 1.61. The stock has a market cap of $2.23 billion, a PE ratio of 21.57 and a beta of 1.62. Urban Edge Properties has a twelve month low of $16.61 and a twelve month high of $20.33. The stock has a fifty day moving average price of $18.72.

Urban Edge Properties (NYSE:UEGet Rating) last issued its earnings results on Wednesday, February 16th. The real estate investment trust reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.09. Urban Edge Properties had a return on equity of 10.11% and a net margin of 24.16%. The business had revenue of $128.58 million during the quarter, compared to analysts’ expectations of $94.98 million. During the same period in the prior year, the business earned $0.23 EPS.

Several institutional investors and hedge funds have recently modified their holdings of UE. Invesco Ltd. boosted its stake in shares of Urban Edge Properties by 22.9% in the third quarter. Invesco Ltd. now owns 8,118,864 shares of the real estate investment trust’s stock worth $148,657,000 after buying an additional 1,510,700 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in Urban Edge Properties by 50.3% in the fourth quarter. Westwood Holdings Group Inc. now owns 3,456,635 shares of the real estate investment trust’s stock valued at $65,677,000 after purchasing an additional 1,156,107 shares during the period. Morgan Stanley increased its position in shares of Urban Edge Properties by 1,541.7% in the second quarter. Morgan Stanley now owns 1,218,985 shares of the real estate investment trust’s stock valued at $23,282,000 after buying an additional 1,144,735 shares in the last quarter. Cramer Rosenthal Mcglynn LLC raised its stake in shares of Urban Edge Properties by 114.1% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 2,130,951 shares of the real estate investment trust’s stock worth $39,018,000 after buying an additional 1,135,545 shares during the period. Finally, Norges Bank purchased a new position in shares of Urban Edge Properties during the 4th quarter valued at approximately $20,850,000. Hedge funds and other institutional investors own 94.14% of the company’s stock.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a $0.16 dividend. This is an increase from Urban Edge Properties’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 14th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 3.37%. Urban Edge Properties’s dividend payout ratio is presently 72.73%.

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.

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Earnings History and Estimates for Urban Edge Properties (NYSE:UE)

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