Urban Edge Properties (NYSE:UE) Upgraded to “Hold” by Zacks Investment Research

Urban Edge Properties (NYSE:UEGet Rating) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday, 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 downgraded shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Wednesday, May 11th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $20.94.

Shares of UE traded down $0.26 during mid-day trading on Wednesday, reaching $19.27. The stock had a trading volume of 50,917 shares, compared to its average volume of 929,365. The firm has a market cap of $2.26 billion, a price-to-earnings ratio of 24.39 and a beta of 1.52. Urban Edge Properties has a 12 month low of $16.61 and a 12 month high of $20.33. The business has a fifty day moving average of $18.82 and a 200 day moving average of $18.52. The company has a debt-to-equity ratio of 1.62, a quick ratio of 3.67 and a current ratio of 3.67.

Urban Edge Properties (NYSE:UEGet Rating) last released its earnings results on Wednesday, February 16th. The real estate investment trust reported $0.36 EPS for the quarter, topping the consensus estimate of $0.27 by $0.09. Urban Edge Properties had a net margin of 21.47% and a return on equity of 8.99%. The firm had revenue of $128.58 million for the quarter, compared to the consensus estimate of $94.98 million. During the same quarter in the previous year, the firm earned $0.23 earnings per share. On average, research analysts forecast that Urban Edge Properties will post 1.19 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. abrdn plc raised its stake in Urban Edge Properties by 3.2% during the first quarter. abrdn plc now owns 25,690 shares of the real estate investment trust’s stock valued at $498,000 after purchasing an additional 807 shares in the last quarter. First Trust Advisors LP raised its stake in Urban Edge Properties by 2.1% during the first quarter. First Trust Advisors LP now owns 41,610 shares of the real estate investment trust’s stock valued at $791,000 after purchasing an additional 838 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Urban Edge Properties by 115.3% during the third quarter. O Shaughnessy Asset Management LLC now owns 1,824 shares of the real estate investment trust’s stock valued at $33,000 after purchasing an additional 977 shares in the last quarter. Advisor Group Holdings Inc. raised its stake in Urban Edge Properties by 31.3% during the third quarter. Advisor Group Holdings Inc. now owns 5,336 shares of the real estate investment trust’s stock valued at $101,000 after purchasing an additional 1,273 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Urban Edge Properties by 7.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 19,271 shares of the real estate investment trust’s stock valued at $366,000 after purchasing an additional 1,274 shares in the last quarter. 94.09% of the stock is currently owned by 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.

Featured Stories

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.