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

Urban Edge Properties (NYSE:UE) had its target price reduced by Evercore ISI from $23.00 to $22.00 in a research note issued 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 suggests a potential upside of 2.42% from the stock’s current price.

Urban Edge Properties Price Performance

Urban Edge Properties stock opened at $21.48 on Tuesday. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The stock has a market cap of $2.68 billion, a P/E ratio of 9.63 and a beta of 1.53. The company has a 50-day moving average price of $22.56 and a 200 day moving average price of $20.80. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share 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%. Sell-side analysts anticipate that Urban Edge Properties will post 1.32 earnings per share for the current year.

Insider Buying and Selling

In other Urban Edge Properties news, 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 transaction, the chief executive officer now owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. This trade represents a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark Langer sold 93,962 shares of Urban Edge Properties stock in a transaction that occurred 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 transaction, the chief financial officer now directly owns 35,816 shares in the company, valued at approximately $844,183.12. This trade represents a 72.40 % decrease in their position. The disclosure for this sale can be found here. 4.30% of the stock is currently owned by insiders.

Institutional Trading of Urban Edge Properties

A number of large investors have recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new stake in shares of Urban Edge Properties during the second quarter worth approximately $50,000. Signaturefd LLC increased its stake in Urban Edge Properties by 91.6% in the 2nd quarter. Signaturefd LLC now owns 2,755 shares of the real estate investment trust’s stock valued at $51,000 after purchasing an additional 1,317 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Urban Edge Properties by 25.9% during the 3rd 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 last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Urban Edge Properties by 36.0% in 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 purchasing an additional 1,221 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Urban Edge Properties in the 3rd quarter valued at approximately $101,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

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.