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

Urban Edge Properties (NYSE:UE) announced a quarterly dividend on Thursday, November 6th. Stockholders of record on Monday, December 15th will be given a dividend of 0.19 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, December 15th.

Urban Edge Properties has decreased its dividend by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 2 consecutive years. Urban Edge Properties has a payout ratio of 155.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Urban Edge Properties to earn $1.41 per share next year, which means the company should continue to be able to cover its $0.76 annual dividend with an expected future payout ratio of 53.9%.

Urban Edge Properties Stock Up 1.7%

Shares of UE stock traded up $0.31 on Friday, reaching $19.02. 301,383 shares of the stock were exchanged, compared to its average volume of 964,143. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of 21.37 and a beta of 1.25. The business’s 50 day moving average price is $20.16 and its 200 day moving average price is $19.37. The company has a current ratio of 2.61, a quick ratio of 2.61 and a debt-to-equity ratio of 1.18. Urban Edge Properties has a twelve month low of $15.66 and a twelve month high of $23.85.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, October 29th. The real estate investment trust reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $119.20 million during the quarter, compared to the consensus estimate of $117.85 million. Urban Edge Properties had a return on equity of 8.10% and a net margin of 23.73%. Urban Edge Properties has set its FY 2025 guidance at 1.420-1.440 EPS. As a group, sell-side analysts expect that Urban Edge Properties will post 1.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on UE shares. BTIG Research began coverage on Urban Edge Properties in a research note on Monday, August 11th. They set a “buy” rating and a $23.00 target price for the company. Morgan Stanley boosted their price objective on shares of Urban Edge Properties from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 24th. Evercore ISI upped their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a report on Monday, September 15th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Urban Edge Properties in a research note on Wednesday, October 8th. Finally, LADENBURG THALM/SH SH began coverage on shares of Urban Edge Properties in a research report on Tuesday, September 9th. They issued a “neutral” rating and a $23.00 price target for the company. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $22.00.

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.