Urban Edge Properties (NYSE:UE) Short Interest Down 19.1% in November

Urban Edge Properties (NYSE:UE) was the target of a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,330,000 shares, a drop of 19.1% from the November 15th total of 2,880,000 shares. Based on an average daily volume of 838,300 shares, the days-to-cover ratio is currently 2.8 days.

Urban Edge Properties Stock Performance

UE stock traded up $0.04 on Friday, reaching $22.33. 1,237,914 shares of the company were exchanged, compared to its average volume of 890,581. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.30 and a quick ratio of 1.30. The stock’s fifty day moving average price is $22.49 and its 200 day moving average price is $20.58. Urban Edge Properties has a 12 month low of $15.81 and a 12 month high of $23.85. The firm has a market capitalization of $2.79 billion, a PE ratio of 10.02 and a beta of 1.53.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data 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 for the quarter. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. On average, research analysts anticipate that Urban Edge Properties will post 1.32 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.05%. Urban Edge Properties’s dividend payout ratio (DPR) is presently 30.49%.

Insider Activity at Urban Edge Properties

In related news, CFO Mark Langer sold 93,962 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $23.57, for a total transaction of $2,214,684.34. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey S. Olson sold 240,000 shares of Urban Edge Properties stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $22.45, for a total value 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 approximately $43,350.95. The trade was a 99.20 % decrease in their position. The disclosure for this sale can be found here. 3.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Urban Edge Properties

A number of large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Urban Edge Properties in the third quarter valued at $269,000. Coldstream Capital Management Inc. acquired a new stake in Urban Edge Properties in the 3rd quarter valued at about $206,000. Geode Capital Management LLC raised its stake in shares of Urban Edge Properties by 4.4% in the third quarter. Geode Capital Management LLC now owns 3,109,608 shares of the real estate investment trust’s stock worth $66,525,000 after acquiring an additional 130,854 shares during the last quarter. Vestcor Inc lifted its position in shares of Urban Edge Properties by 1,837.8% during the third quarter. Vestcor Inc now owns 106,713 shares of the real estate investment trust’s stock worth $2,283,000 after purchasing an additional 101,206 shares in the last quarter. Finally, M&T Bank Corp grew its stake in shares of Urban Edge Properties by 11.1% during the third quarter. M&T Bank Corp now owns 12,886 shares of the real estate investment trust’s stock valued at $276,000 after purchasing an additional 1,292 shares during the last quarter. 94.94% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI boosted their price objective 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.

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.