Urban Edge Properties Declares Quarterly Dividend of $0.17 (NYSE:UE)

Urban Edge Properties (NYSE:UE) announced a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Investors of record on Friday, December 13th will be paid a dividend of 0.17 per share by the real estate investment trust on Tuesday, December 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date is Friday, December 13th.

Urban Edge Properties has increased its dividend by an average of 42.8% per year over the last three years. Urban Edge Properties has a payout ratio of 170.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Urban Edge Properties to earn $1.38 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 49.3%.

Urban Edge Properties Price Performance

Shares of NYSE:UE opened at $23.15 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 1.13. The company has a market cap of $2.89 billion, a P/E ratio of 10.38 and a beta of 1.54. Urban Edge Properties has a 52 week low of $15.81 and a 52 week high of $23.53. The company has a 50-day moving average price of $21.51 and a 200 day moving average price of $19.51.

Urban Edge Properties (NYSE:UE) last announced its quarterly earnings data on Wednesday, October 30th. The real estate investment trust reported $0.07 EPS for the quarter. The firm had revenue of $112.26 million during the quarter. Urban Edge Properties had a net margin of 59.23% and a return on equity of 20.89%. Research analysts predict that Urban Edge Properties will post 1.32 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on UE shares. StockNews.com upgraded shares of Urban Edge Properties from a “sell” rating to a “hold” rating in a research report on Friday, August 2nd. Evercore ISI increased 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 report on Monday, September 16th.

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.