Urban Edge Properties (NYSE:UE) Raised to Outperform at Evercore ISI

Evercore ISI upgraded shares of Urban Edge Properties (NYSE:UE) from an in-line rating to an outperform rating in a research note published on Tuesday, BenzingaRatingsTable reports. The firm currently has $13.00 price target on the real estate investment trust’s stock.

Several other research firms have also recently issued reports on UE. Odeon Capital Group started coverage on Urban Edge Properties in a research report on Wednesday, April 8th. They set a buy rating and a $12.00 target price for the company. Zacks Investment Research cut Urban Edge Properties from a buy rating to a hold rating in a research report on Saturday, April 25th. Finally, ValuEngine cut Urban Edge Properties from a hold rating to a sell rating in a research report on Thursday, June 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Urban Edge Properties has a consensus rating of Hold and a consensus price target of $14.55.

Shares of UE opened at $11.21 on Tuesday. The company has a quick ratio of 10.61, a current ratio of 10.61 and a debt-to-equity ratio of 1.62. The business has a 50-day simple moving average of $10.36 and a two-hundred day simple moving average of $14.14. The stock has a market cap of $1.31 billion, a price-to-earnings ratio of 10.19 and a beta of 1.47. Urban Edge Properties has a 52 week low of $6.98 and a 52 week high of $21.74.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, April 29th. The real estate investment trust reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.35. The business had revenue of $93.36 million during the quarter, compared to analysts’ expectations of $96.60 million. Urban Edge Properties had a return on equity of 13.10% and a net margin of 34.69%. On average, equities analysts anticipate that Urban Edge Properties will post 1 earnings per share for the current fiscal year.

Hedge funds have recently modified their holdings of the stock. Resolution Capital Ltd purchased a new position in Urban Edge Properties during the 1st quarter worth $43,028,000. Goldman Sachs Group Inc. increased its holdings in shares of Urban Edge Properties by 124.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,338,521 shares of the real estate investment trust’s stock valued at $83,213,000 after acquiring an additional 2,409,858 shares during the period. Centersquare Investment Management LLC increased its holdings in shares of Urban Edge Properties by 483.1% in the 1st quarter. Centersquare Investment Management LLC now owns 2,213,080 shares of the real estate investment trust’s stock valued at $19,497,000 after acquiring an additional 1,833,559 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Urban Edge Properties by 39.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 6,036,421 shares of the real estate investment trust’s stock valued at $53,182,000 after acquiring an additional 1,702,770 shares during the period. Finally, Norges Bank acquired a new stake in shares of Urban Edge Properties in the 4th quarter worth $30,023,000. 88.88% of the stock is owned by hedge funds and other institutional investors.

Urban Edge Properties Company Profile

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 87 properties totaling 16.1 million square feet of gross leasable area.

Featured Story: Roth IRA

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.