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

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Thursday, November 6th. Stockholders of record on Monday, December 15th will be paid a dividend of 0.19 per share by the real estate investment trust on Wednesday, December 31st. This represents a c) dividend on an annualized basis 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 raised its dividend annually for the last 2 consecutive years. Urban Edge Properties has a dividend 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 Performance

NYSE UE traded up $0.31 during trading hours on Friday, hitting $19.02. 301,383 shares of the stock were exchanged, compared to its average volume of 964,143. The company has a quick ratio of 2.61, a current ratio of 2.61 and a debt-to-equity ratio of 1.18. The company has a market cap of $2.39 billion, a price-to-earnings ratio of 21.37 and a beta of 1.25. Urban Edge Properties has a 12-month low of $15.66 and a 12-month high of $23.85. The stock has a 50-day moving average of $20.16 and a 200 day moving average of $19.37.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, October 29th. The real estate investment trust reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $119.20 million for the quarter, compared to analyst estimates 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, equities research analysts forecast that Urban Edge Properties will post 1.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on UE shares. Wall Street Zen raised Urban Edge Properties from a “sell” rating to a “hold” rating in a report on Saturday, August 2nd. BTIG Research started coverage on shares of Urban Edge Properties in a research note on Monday, August 11th. They set a “buy” rating and a $23.00 price target on the stock. Evercore ISI raised their price objective on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research note on Monday, September 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Urban Edge Properties in a research report on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Urban Edge Properties from $20.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, September 24th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock has an average 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.