Analysts Set Urban Edge Properties (NYSE:UE) Price Target at $22.00

Shares of Urban Edge Properties (NYSE:UE) have earned an average recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $22.00.

A number of equities research analysts have commented on UE shares. UBS Group cut their target price on shares of Urban Edge Properties from $21.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, January 8th. Morgan Stanley lifted their target price on Urban Edge Properties from $21.00 to $22.00 and gave the company an “equal weight” rating in a research report on Monday, January 5th. Finally, Weiss Ratings raised Urban Edge Properties from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, December 29th.

Institutional Trading of Urban Edge Properties

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp boosted its holdings in Urban Edge Properties by 1.3% in the 2nd quarter. State Street Corp now owns 7,394,625 shares of the real estate investment trust’s stock worth $137,984,000 after buying an additional 92,101 shares during the period. Wellington Management Group LLP purchased a new stake in shares of Urban Edge Properties during the third quarter worth about $92,600,000. Geode Capital Management LLC raised its stake in Urban Edge Properties by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,351,775 shares of the real estate investment trust’s stock valued at $62,552,000 after purchasing an additional 46,714 shares during the period. Jennison Associates LLC raised its stake in Urban Edge Properties by 2.6% during the 2nd quarter. Jennison Associates LLC now owns 3,277,304 shares of the real estate investment trust’s stock valued at $61,154,000 after purchasing an additional 84,256 shares during the period. Finally, Resolution Capital Ltd lifted its holdings in Urban Edge Properties by 11.8% in the 2nd quarter. Resolution Capital Ltd now owns 2,475,155 shares of the real estate investment trust’s stock worth $46,186,000 after purchasing an additional 262,167 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Urban Edge Properties Stock Up 0.4%

NYSE:UE opened at $21.08 on Thursday. The firm has a market cap of $2.65 billion, a P/E ratio of 23.68 and a beta of 1.06. Urban Edge Properties has a fifty-two week low of $15.66 and a fifty-two week high of $21.73. The company has a debt-to-equity ratio of 1.18, a quick ratio of 2.61 and a current ratio of 2.61. The firm has a 50-day simple moving average of $19.30 and a two-hundred day simple moving average of $19.67.

About Urban Edge Properties

Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.

The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.