Urban Edge Properties (NYSE:UE) Sees Large Increase in Short Interest

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Urban Edge Properties (NYSE:UE) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 4,710,000 shares, a growth of 47.6% from the September 30th total of 3,190,000 shares. Based on an average trading volume of 965,700 shares, the short-interest ratio is currently 4.9 days. Approximately 4.0% of the shares of the company are sold short.

Shares of UE traded up $0.12 during trading hours on Thursday, reaching $20.74. The company had a trading volume of 36,096 shares, compared to its average volume of 1,097,093. The firm has a 50 day simple moving average of $20.39 and a 200-day simple moving average of $18.38. The company has a current ratio of 7.97, a quick ratio of 7.97 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $2.52 billion, a price-to-earnings ratio of 15.85 and a beta of 0.88. Urban Edge Properties has a 12-month low of $15.96 and a 12-month high of $21.74.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings results on Wednesday, October 30th. The real estate investment trust reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.15. The business had revenue of $91.24 million during the quarter, compared to the consensus estimate of $94.02 million. Urban Edge Properties had a net margin of 28.69% and a return on equity of 11.11%. Sell-side analysts forecast that Urban Edge Properties will post 1.19 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 4.24%. Urban Edge Properties’s dividend payout ratio is presently 67.18%.

Several research firms have recently commented on UE. Zacks Investment Research upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Tuesday, August 20th. Compass Point started coverage on shares of Urban Edge Properties in a report on Thursday, August 15th. They issued a “buy” rating and a $20.00 price target for the company. Finally, ValuEngine upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Friday, September 6th.

Large investors have recently bought and sold shares of the business. First Trust Advisors LP raised its position in Urban Edge Properties by 2.1% in the 1st quarter. First Trust Advisors LP now owns 41,610 shares of the real estate investment trust’s stock valued at $791,000 after buying an additional 838 shares during the last quarter. Retirement Systems of Alabama boosted its position in shares of Urban Edge Properties by 5.2% in the second quarter. Retirement Systems of Alabama now owns 156,612 shares of the real estate investment trust’s stock worth $2,714,000 after acquiring an additional 7,780 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Urban Edge Properties by 18.0% in the second quarter. Nisa Investment Advisors LLC now owns 30,751 shares of the real estate investment trust’s stock worth $533,000 after acquiring an additional 4,683 shares during the last quarter. 6 Meridian boosted its position in shares of Urban Edge Properties by 2.8% in the second quarter. 6 Meridian now owns 25,437 shares of the real estate investment trust’s stock worth $441,000 after acquiring an additional 696 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its position in shares of Urban Edge Properties by 7.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 48,564 shares of the real estate investment trust’s stock worth $842,000 after acquiring an additional 3,187 shares during the last quarter. Hedge funds and other institutional investors own 86.93% of the company’s stock.

Urban Edge Properties Company Profile

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 87 properties totaling 16.1 million square feet of gross leasable area.

Further Reading: Equal Weight Rating

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