Urban Edge Properties (NYSE:UE) Updates FY 2024 Earnings Guidance

Urban Edge Properties (NYSE:UE) issued an update on its FY 2024 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of 1.320-1.350 for the period, compared to the consensus estimate of 1.320. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

UE has been the topic of a number of research reports. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research note on Friday, August 2nd. Evercore ISI boosted their target price on shares of Urban Edge Properties from $21.00 to $22.00 and gave the company an “in-line” rating in a research report on Monday, September 16th.

Urban Edge Properties Price Performance

Shares of NYSE UE traded down $0.25 during midday trading on Friday, reaching $21.99. The company’s stock had a trading volume of 902,774 shares, compared to its average volume of 878,418. The company has a debt-to-equity ratio of 1.13, a quick ratio of 2.11 and a current ratio of 1.30. The company has a market cap of $2.67 billion, a P/E ratio of 9.83 and a beta of 1.55. The business’s 50 day moving average price is $21.33 and its two-hundred day moving average price is $19.29. Urban Edge Properties has a fifty-two week low of $15.81 and a fifty-two week high of $22.89.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 earnings per share for the quarter. The firm had revenue of $112.26 million during the quarter. 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 1.34 EPS for the current fiscal year.

Urban Edge Properties Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $0.68 dividend on an annualized basis and a yield of 3.09%. Urban Edge Properties’s payout ratio is 30.49%.

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.