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

Urban Edge Properties (NYSE:UE) had its price target dropped by Evercore ISI from $23.00 to $22.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price target would suggest a potential upside of 1.90% from the company’s current price.

Urban Edge Properties Trading Up 0.5 %

Shares of NYSE:UE opened at $21.59 on Tuesday. Urban Edge Properties has a 52-week low of $15.81 and a 52-week high of $23.85. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 9.68 and a beta of 1.53. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.30 and a current ratio of 1.30. The stock’s 50-day simple moving average is $22.54 and its two-hundred day simple moving average is $20.83.

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

Insider Transactions at Urban Edge Properties

In related news, CEO Jeffrey S. Olson sold 240,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,931 shares in the company, valued at approximately $43,350.95. This represents a 99.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Mark Langer sold 93,962 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.57, for a total value of $2,214,684.34. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders own 4.30% of the company’s stock.

Institutional Investors Weigh In On Urban Edge Properties

Hedge funds and other institutional investors have recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Urban Edge Properties during the 2nd quarter valued at about $50,000. Signaturefd LLC grew its stake in shares of Urban Edge Properties by 91.6% during 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 during the last quarter. GAMMA Investing LLC raised its holdings in shares of Urban Edge Properties by 25.9% in the third quarter. GAMMA Investing LLC now owns 2,740 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 563 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Urban Edge Properties by 36.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 4,612 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,221 shares during the last quarter. Finally, Quest Partners LLC bought a new stake in shares of Urban Edge Properties during the 3rd quarter worth approximately $101,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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.