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

Urban Edge Properties (NYSE:UE) had its price objective raised by analysts at Evercore ISI from $21.00 to $22.00 in a report released on Monday, Benzinga reports. The firm currently has an “in-line” rating on the real estate investment trust’s stock. Evercore ISI’s price objective points to a potential upside of 3.55% from the company’s current price.

Separately, StockNews.com raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, August 2nd.

Urban Edge Properties Stock Performance

Shares of UE opened at $21.25 on Monday. The stock has a market capitalization of $2.58 billion, a P/E ratio of 9.24 and a beta of 1.55. The company has a debt-to-equity ratio of 1.19, a quick ratio of 2.11 and a current ratio of 2.11. Urban Edge Properties has a 1 year low of $14.36 and a 1 year high of $21.66. The company’s fifty day moving average is $20.11 and its two-hundred day moving average is $18.22.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.06). The firm had revenue of $106.36 million for the quarter, compared to analyst estimates of $110.34 million. Urban Edge Properties had a return on equity of 24.65% and a net margin of 66.89%. On average, sell-side analysts predict that Urban Edge Properties will post 1.31 earnings per share for the current year.

Institutional Investors Weigh In On Urban Edge Properties

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. grew its holdings in shares of Urban Edge Properties by 33.1% in the 1st quarter. Sei Investments Co. now owns 688,744 shares of the real estate investment trust’s stock worth $11,895,000 after acquiring an additional 171,246 shares during the period. Centersquare Investment Management LLC boosted its position in Urban Edge Properties by 15.8% during the first quarter. Centersquare Investment Management LLC now owns 2,171,758 shares of the real estate investment trust’s stock worth $36,334,000 after purchasing an additional 296,324 shares in the last quarter. Evoke Wealth LLC acquired a new stake in Urban Edge Properties in the fourth quarter valued at $1,106,000. Russell Investments Group Ltd. grew its holdings in Urban Edge Properties by 16.2% in the first quarter. Russell Investments Group Ltd. now owns 191,555 shares of the real estate investment trust’s stock valued at $3,308,000 after purchasing an additional 26,650 shares during the last quarter. Finally, Jennison Associates LLC raised its stake in shares of Urban Edge Properties by 98.6% during the 1st quarter. Jennison Associates LLC now owns 2,006,915 shares of the real estate investment trust’s stock worth $34,659,000 after buying an additional 996,287 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors and hedge funds.

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.