Urban Edge Properties (NYSE:UE – Get Rating) – Capital One Financial lowered their Q4 2022 earnings per share (EPS) estimates for Urban Edge Properties in a research report issued on Monday, April 25th. Capital One Financial analyst C. Lucas now anticipates that the real estate investment trust will post earnings of $0.32 per share for the quarter, down from their previous forecast of $0.33. Capital One Financial also issued estimates for Urban Edge Properties’ Q4 2023 earnings at $0.33 EPS.
Several other equities analysts have also weighed in on the company. StockNews.com initiated coverage on Urban Edge Properties in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Zacks Investment Research downgraded Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Tuesday. 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $20.94.
Urban Edge Properties (NYSE:UE – Get 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.
A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in shares of 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 purchasing an additional 1,510,700 shares during the last quarter. Westwood Holdings Group Inc. grew its stake in shares of 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 purchasing an additional 1,156,107 shares during the last quarter. Morgan Stanley grew its stake in shares of Urban Edge Properties by 1,541.7% in the 2nd quarter. Morgan Stanley now owns 1,218,985 shares of the real estate investment trust’s stock worth $23,282,000 after purchasing an additional 1,144,735 shares during the last quarter. Cramer Rosenthal Mcglynn LLC grew its stake in shares of Urban Edge Properties by 114.1% in 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 purchasing an additional 1,135,545 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Urban Edge Properties in the 4th quarter worth approximately $20,850,000. 94.14% of the stock is currently owned by hedge funds and other institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Investors of record on Tuesday, March 15th were given a $0.16 dividend. The ex-dividend date was Monday, March 14th. This is an increase from Urban Edge Properties’s previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 3.38%. Urban Edge Properties’s dividend payout ratio (DPR) is currently 72.73%.
Urban Edge Properties Company Profile (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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