Urban Edge Properties (NYSE:UE) Price Target Raised to $21.00 at Morgan Stanley

Urban Edge Properties (NYSE:UE) had its price objective increased by Morgan Stanley from $20.00 to $21.00 in a report published on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the real estate investment trust’s stock.

Other equities analysts have also recently issued reports about the company. BTIG Research began coverage on Urban Edge Properties in a research note on Monday, August 11th. They set a “buy” rating and a $23.00 target price on the stock. Evercore ISI boosted their target price on Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Wall Street Zen raised Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Saturday, August 2nd. Finally, LADENBURG THALM/SH SH began coverage on Urban Edge Properties in a research note on Tuesday, September 9th. They set a “neutral” rating and a $23.00 target price on the stock. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.25.

Urban Edge Properties Price Performance

Shares of Urban Edge Properties stock opened at $19.97 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.39 and a quick ratio of 2.39. The business’s 50 day simple moving average is $20.17 and its two-hundred day simple moving average is $19.03. The stock has a market capitalization of $2.51 billion, a P/E ratio of 23.77 and a beta of 1.28. Urban Edge Properties has a one year low of $15.66 and a one year high of $23.85.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, July 30th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.02. Urban Edge Properties had a return on equity of 7.74% and a net margin of 22.86%.The firm had revenue of $113.91 million for the quarter, compared to analysts’ expectations of $115.99 million. Urban Edge Properties has set its FY 2025 guidance at 1.400-1.440 EPS. Analysts forecast that Urban Edge Properties will post 1.4 EPS for the current year.

Urban Edge Properties Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a dividend of $0.19 per share. The ex-dividend date is Monday, September 15th. This represents a $0.76 annualized dividend and a dividend yield of 3.8%. Urban Edge Properties’s payout ratio is currently 90.48%.

Institutional Investors Weigh In On Urban Edge Properties

Several hedge funds have recently made changes to their positions in the company. Arizona State Retirement System boosted its holdings in Urban Edge Properties by 1.7% in the first quarter. Arizona State Retirement System now owns 35,818 shares of the real estate investment trust’s stock worth $681,000 after acquiring an additional 605 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in Urban Edge Properties by 6.6% in the first quarter. Contravisory Investment Management Inc. now owns 12,175 shares of the real estate investment trust’s stock worth $231,000 after acquiring an additional 758 shares in the last quarter. Quadrant Capital Group LLC boosted its holdings in Urban Edge Properties by 5.7% in the second quarter. Quadrant Capital Group LLC now owns 14,744 shares of the real estate investment trust’s stock worth $275,000 after acquiring an additional 792 shares in the last quarter. California State Teachers Retirement System boosted its holdings in Urban Edge Properties by 0.7% in the second quarter. California State Teachers Retirement System now owns 112,542 shares of the real estate investment trust’s stock worth $2,100,000 after acquiring an additional 816 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in Urban Edge Properties by 2.5% in the second quarter. Daiwa Securities Group Inc. now owns 44,144 shares of the real estate investment trust’s stock worth $824,000 after acquiring an additional 1,066 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

About Urban Edge Properties

Urban Edge Properties is a NYSE listed real estate investment trust focused on owning, managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the Washington, DC to Boston corridor. Urban Edge owns 76 properties totaling 17.1 million square feet of gross leasable area.