Urban Edge Properties (NYSE:UE) Given New $22.00 Price Target at UBS Group

Urban Edge Properties (NYSE:UE) had its price target upped by research analysts at UBS Group from $21.00 to $22.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the real estate investment trust’s stock. UBS Group‘s price objective would indicate a potential upside of 5.88% from the stock’s current price.

Several other equities research analysts have also weighed in on UE. Wall Street Zen raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Sunday, September 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Urban Edge Properties in a report on Wednesday, November 4th. Two investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Urban Edge Properties presently has an average rating of “Moderate Buy” and an average target price of $23.00.

Urban Edge Properties Stock Performance

NYSE:UE traded down $0.12 during trading hours on Wednesday, reaching $20.78. The stock had a trading volume of 862,020 shares, compared to its average volume of 968,549. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.89 and a current ratio of 1.89. The stock has a 50 day simple moving average of $20.00 and a 200 day simple moving average of $21.23. Urban Edge Properties has a 12-month low of $18.46 and a 12-month high of $24.11. The stock has a market cap of $2.62 billion, a P/E ratio of 25.03 and a beta of 1.04.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, October 28th. The real estate investment trust reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.29. Urban Edge Properties had a return on equity of 7.53% and a net margin of 21.12%. The firm had revenue of $119.56 million for the quarter, compared to analysts’ expectations of $120.49 million. On average, research analysts forecast that Urban Edge Properties will post 1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Urban Edge Properties

Institutional investors have recently made changes to their positions in the stock. Public Sector Pension Investment Board boosted its holdings in shares of Urban Edge Properties by 56.9% in the third quarter. Public Sector Pension Investment Board now owns 679,405 shares of the real estate investment trust’s stock worth $13,136,000 after acquiring an additional 246,426 shares during the period. Global Retirement Partners LLC lifted its holdings in Urban Edge Properties by 353.7% during the 3rd quarter. Global Retirement Partners LLC now owns 6,147 shares of the real estate investment trust’s stock worth $120,000 after purchasing an additional 4,792 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Urban Edge Properties by 1.6% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 117,322 shares of the real estate investment trust’s stock worth $2,291,000 after purchasing an additional 1,807 shares in the last quarter. HighTower Advisors LLC boosted its stake in Urban Edge Properties by 29.3% in the 3rd quarter. HighTower Advisors LLC now owns 21,336 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 4,838 shares during the period. Finally, Virtus Advisers LLC boosted its stake in Urban Edge Properties by 16.1% in the 3rd quarter. Virtus Advisers LLC now owns 39,286 shares of the real estate investment trust’s stock worth $767,000 after purchasing an additional 5,457 shares during the period. Hedge funds and other institutional investors own 94.94% of the company’s stock.

Urban Edge Properties Company Profile

Urban Edge Properties is a real estate investment trust that owns, manages, leases and redevelops retail properties. Its portfolio includes shopping centers and other retail destinations, with many properties anchored by grocery stores and serving densely populated communities. The company focuses on the Northeast and Mid-Atlantic, including the New York metropolitan area and markets around Washington, D.C. Its work includes leasing space to retailers and investing in property improvements and redevelopment.