Urban Edge Properties (NYSE:UE – Get Free Report) announced a quarterly dividend on Wednesday, May 6th. Stockholders of record on Monday, June 15th will be paid a dividend of 0.21 per share by the real estate investment trust on Tuesday, June 30th. This represents a c) annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend is Monday, June 15th.
Urban Edge Properties has raised its dividend by an average of 0.0%annually over the last three years and has raised its dividend every year for the last 2 years. Urban Edge Properties has a payout ratio of 171.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Urban Edge Properties to earn $1.57 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 53.5%.
Urban Edge Properties Trading Up 0.4%
Shares of NYSE UE opened at $23.88 on Friday. Urban Edge Properties has a 12 month low of $18.14 and a 12 month high of $24.11. The company has a market cap of $3.01 billion, a price-to-earnings ratio of 27.76 and a beta of 0.98. The company has a quick ratio of 2.08, a current ratio of 2.08 and a debt-to-equity ratio of 1.21. The business has a fifty day simple moving average of $21.89 and a 200-day simple moving average of $20.56.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on UE shares. BTIG Research reissued a “buy” rating and issued a $25.00 price objective on shares of Urban Edge Properties in a research note on Friday. Weiss Ratings raised Urban Edge Properties from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, April 29th. Finally, UBS Group increased their price objective on Urban Edge Properties from $20.00 to $22.00 and gave the stock a “neutral” rating in a research note on Monday, May 18th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $22.80.
View Our Latest Stock Analysis on Urban Edge Properties
Urban Edge Properties Company Profile
Urban Edge Properties is a publicly traded real estate investment trust (REIT) that specializes in owning, operating and developing grocery-anchored shopping centers. The company was formed in January 2017 as a spin-off from Regency Centers Corporation, establishing an independent platform focused on urban and densely populated markets. As a fully integrated REIT, Urban Edge oversees the acquisition, financing, leasing, redevelopment and management of its retail properties.
The company’s portfolio comprises predominantly open-air shopping centers anchored by national and regional supermarket operators.
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