Urban Edge Properties (NYSE:UE) Announces Quarterly Dividend of $0.19

Urban Edge Properties (NYSE:UE) announced a quarterly dividend on Tuesday, February 11th,NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, March 31st. This represents a $0.76 annualized dividend and a yield of 3.58%. The ex-dividend date is Friday, March 14th. This is an increase from Urban Edge Properties’s previous quarterly dividend of $0.17.

Urban Edge Properties has raised its dividend payment by an average of 4.3% annually over the last three years. Urban Edge Properties has a dividend payout ratio of 128.3% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Urban Edge Properties to earn $1.40 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 48.6%.

Urban Edge Properties Stock Performance

Urban Edge Properties stock traded up $0.45 during mid-day trading on Wednesday, hitting $21.20. 1,192,466 shares of the company’s stock traded hands, compared to its average volume of 791,427. The firm has a 50 day moving average price of $21.05 and a 200 day moving average price of $21.32. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market cap of $2.65 billion, a PE ratio of 9.51 and a beta of 1.54. Urban Edge Properties has a one year low of $15.81 and a one year high of $23.85.

Urban Edge Properties (NYSE:UE) last announced its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. On average, equities analysts forecast that Urban Edge Properties will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Evercore ISI dropped their price objective on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th.

Insider Transactions at Urban Edge Properties

In other news, CEO Jeffrey S. Olson sold 240,000 shares of the business’s 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 directly owns 1,931 shares of the company’s stock, valued at $43,350.95. The trade was a 99.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.10% 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.