Short Interest in Urban Edge Properties (NYSE:UE) Increases By 60.7%

Urban Edge Properties (NYSE:UE) was the target of a significant increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,900,000 shares, an increase of 60.7% from the February 28th total of 3,050,000 shares. Based on an average daily volume of 872,400 shares, the days-to-cover ratio is presently 5.6 days. Approximately 4.0% of the shares of the stock are short sold.

Institutional Trading of Urban Edge Properties

Several institutional investors have recently added to or reduced their stakes in UE. GF Fund Management CO. LTD. acquired a new stake in shares of Urban Edge Properties in the fourth quarter valued at $47,000. Quarry LP acquired a new position in Urban Edge Properties in the 4th quarter valued at about $49,000. Smartleaf Asset Management LLC increased its stake in Urban Edge Properties by 76.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,367 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,029 shares during the period. Sterling Capital Management LLC lifted its position in shares of Urban Edge Properties by 858.7% during the fourth quarter. Sterling Capital Management LLC now owns 3,969 shares of the real estate investment trust’s stock worth $85,000 after purchasing an additional 3,555 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of Urban Edge Properties in the fourth quarter valued at approximately $93,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Analyst Ratings Changes

UE has been the topic of a number of research reports. Evercore ISI decreased their price target on shares of Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating on the stock in a research note on Tuesday, December 24th. StockNews.com upgraded Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Thursday, March 20th.

Urban Edge Properties Price Performance

Shares of UE stock traded up $0.01 during trading hours on Friday, reaching $18.88. The company had a trading volume of 529,300 shares, compared to its average volume of 877,245. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.92 and a current ratio of 1.92. Urban Edge Properties has a 12-month low of $15.81 and a 12-month high of $23.85. The stock has a fifty day moving average of $19.95 and a 200-day moving average of $21.19. The company has a market capitalization of $2.37 billion, a price-to-earnings ratio of 32.00 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last posted its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.25. Urban Edge Properties had a return on equity of 5.59% and a net margin of 16.31%. On average, equities analysts anticipate that Urban Edge Properties will post 1.4 earnings per share for the current year.

Urban Edge Properties Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a $0.19 dividend. This is a positive change from Urban Edge Properties’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Friday, March 14th. Urban Edge Properties’s dividend payout ratio is currently 128.81%.

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.