Evercore ISI Lowers Urban Edge Properties (NYSE:UE) Price Target to $22.00

Urban Edge Properties (NYSE:UE) had its target price lowered by research analysts at Evercore ISI from $23.00 to $22.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target suggests a potential upside of 2.42% from the company’s current price.

Urban Edge Properties Price Performance

Shares of NYSE UE opened at $21.48 on Tuesday. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. Urban Edge Properties has a 1-year low of $15.81 and a 1-year high of $23.85. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 9.63 and a beta of 1.53. The business has a 50-day moving average of $22.56 and a 200-day moving average of $20.80.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $112.26 million during the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. On average, equities analysts anticipate that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Insider Activity

In other Urban Edge Properties news, CFO Mark Langer sold 93,962 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the sale, the chief financial officer now directly owns 35,816 shares of the company’s stock, valued at approximately $844,183.12. This represents a 72.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey S. Olson sold 240,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,931 shares in the company, valued at $43,350.95. This represents a 99.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.30% of the company’s stock.

Hedge Funds Weigh In On Urban Edge Properties

Several hedge funds and other institutional investors have recently made changes to their positions in UE. Point72 Hong Kong Ltd acquired a new stake in Urban Edge Properties in the second quarter worth about $50,000. Signaturefd LLC increased its holdings in shares of Urban Edge Properties by 91.6% in the second quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after buying an additional 1,317 shares in the last quarter. GAMMA Investing LLC increased its stake in Urban Edge Properties by 25.9% in the 3rd quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after purchasing an additional 563 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Urban Edge Properties by 36.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,221 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Urban Edge Properties in the third quarter valued at $101,000. 94.94% of the stock is currently owned by institutional investors and hedge funds.

Urban Edge Properties Company Profile

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.