Urban Edge Properties (NYSE:UE) Plans $0.17 Quarterly Dividend

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend is Friday, December 13th.

Urban Edge Properties has raised its dividend payment by an average of 42.8% per year over the last three years. Urban Edge Properties has a payout ratio of 170.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Urban Edge Properties to earn $1.38 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 49.3%.

Urban Edge Properties Stock Performance

UE traded up $0.11 during midday trading on Friday, hitting $23.26. 9,226 shares of the company traded hands, compared to its average volume of 879,913. The firm has a market capitalization of $2.90 billion, a PE ratio of 10.38 and a beta of 1.54. The company’s 50-day moving average is $21.51 and its 200 day moving average is $19.51. Urban Edge Properties has a 52 week low of $15.81 and a 52 week high of $23.53. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13.

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

Wall Street Analysts Forecast Growth

UE has been the topic of several analyst reports. Evercore ISI lifted their price target on shares of Urban Edge Properties from $21.00 to $22.00 and gave the stock an “in-line” rating in a research note on Monday, September 16th. StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

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.