Urban Edge Properties (NYSE:UE) Raises Dividend to $0.19 Per Share

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Tuesday, February 11th,NASDAQ Dividends reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.19 per share by the real estate investment trust on Monday, March 31st. This represents a $0.76 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date is Friday, March 14th. This is an increase from Urban Edge Properties’s previous quarterly dividend of $0.17.

Urban Edge Properties has raised its dividend by an average of 4.3% annually over the last three years. Urban Edge Properties has a dividend payout ratio of 128.3% indicating that 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 $1.40 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 48.6%.

Urban Edge Properties Stock Up 2.2 %

NYSE UE traded up $0.45 on Wednesday, reaching $21.20. The stock had a trading volume of 1,192,466 shares, compared to its average volume of 791,427. The business has a 50 day moving average price of $21.05 and a 200 day moving average price of $21.32. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 1.13. Urban Edge Properties has a 1 year low of $15.81 and a 1 year high of $23.85. The company has a market capitalization of $2.65 billion, a price-to-earnings ratio of 9.51 and a beta of 1.54.

Urban Edge Properties (NYSE:UE) last issued its earnings results on Wednesday, February 12th. The real estate investment trust reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.25. Urban Edge Properties had a return on equity of 20.89% and a net margin of 59.23%. On average, analysts forecast that Urban Edge Properties will post 1.35 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Evercore ISI decreased their price target on Urban Edge Properties from $23.00 to $22.00 and set an “in-line” rating for the company in a research note on Tuesday, December 24th.

Insider Transactions at Urban Edge Properties

In related news, CEO Jeffrey S. Olson sold 240,000 shares of the business’s stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $22.45, for a total transaction of $5,388,000.00. Following the completion of the transaction, the chief executive officer now owns 1,931 shares of the company’s stock, valued at approximately $43,350.95. The trade was a 99.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.10% of the stock is currently owned by corporate insiders.

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.