Morgan Stanley reiterated coverage of Urban Edge Props with a rating of Underweight and set a new price target of $18.75 from $17.25 previously
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| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 12/21/2023 | $14.00 → $18.00 | Underweight → Equal-Weight | Morgan Stanley |
| 11/27/2023 | $18.00 | Outperform → In-line | Evercore ISI |
| 9/23/2021 | $24.00 | Outperform | Wolfe Research |
| 9/20/2021 | $21.00 | In-line → Outperform | Evercore ISI |
Urban Edge Properties (NYSE:UE) announced today that its Board of Trustees has declared a regular quarterly dividend of $0.17 per common share. The dividend will be payable on December 31, 2024 to common shareholders of record on December 13, 2024. 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, D.C. to Boston corridor. Urban Edge owns 75 properties totaling 17.4 million square feet of gross leasable area. View source version on businesswire.com: https://www.businesswire.com/news/home/20241106961196/en/
-- Raises Outlook for Full-Year 2024 FFO as Adjusted -- Urban Edge Properties (NYSE:UE) (the "Company") today announced its results for the quarter ended September 30, 2024 and updated its outlook for full-year 2024. "Our third quarter results reflect continued momentum in executing our strategic plan," said Jeff Olson, Chairman and CEO. "We are pleased to announce the $126 million acquisition of The Village at Waugh Chapel in Anne Arundel County, Maryland and the sale of a single-tenant Home Depot in Union, New Jersey for $71 million. Over the last year, we have acquired $552 million of high-quality retail assets in our core markets at a 7% capitalization rate and have sold over $425 mil
Urban Edge Properties (NYSE:UE) announced today that it will release its third quarter 2024 earnings prior to the market open on Wednesday, October 30, 2024. The Company will host an earnings conference call and audio webcast on October 30, 2024 at 8:30am ET. All interested parties can access the earnings call by dialing 1-877-407-9716 (Toll Free) or 1-201-493-6779 (Toll/International) using conference ID 13748725 or by using the following link for instant telephone access to the event: Call Me. The call will also be webcast and available in listen-only mode at this link: UE Third Quarter 2024 Earnings Conference Call, or on the investors page of our website: www.uedge.com. If you are una
Urban Edge Properties (NYSE:UE) announced today that its Board of Trustees has declared a regular quarterly dividend of $0.17 per common share. The dividend will be payable on December 31, 2024 to common shareholders of record on December 13, 2024. 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, D.C. to Boston corridor. Urban Edge owns 75 properties totaling 17.4 million square feet of gross leasable area. View source version on businesswire.com: https://www.businesswire.com/news/home/20241106961196/en/
-- Raises Outlook for Full-Year 2024 FFO as Adjusted -- Urban Edge Properties (NYSE:UE) (the "Company") today announced its results for the quarter ended September 30, 2024 and updated its outlook for full-year 2024. "Our third quarter results reflect continued momentum in executing our strategic plan," said Jeff Olson, Chairman and CEO. "We are pleased to announce the $126 million acquisition of The Village at Waugh Chapel in Anne Arundel County, Maryland and the sale of a single-tenant Home Depot in Union, New Jersey for $71 million. Over the last year, we have acquired $552 million of high-quality retail assets in our core markets at a 7% capitalization rate and have sold over $425 mil
Urban Edge Properties (NYSE:UE) announced today that it will release its third quarter 2024 earnings prior to the market open on Wednesday, October 30, 2024. The Company will host an earnings conference call and audio webcast on October 30, 2024 at 8:30am ET. All interested parties can access the earnings call by dialing 1-877-407-9716 (Toll Free) or 1-201-493-6779 (Toll/International) using conference ID 13748725 or by using the following link for instant telephone access to the event: Call Me. The call will also be webcast and available in listen-only mode at this link: UE Third Quarter 2024 Earnings Conference Call, or on the investors page of our website: www.uedge.com. If you are una
Urban Edge Properties (NYSE:UE) announced today the appointment of Catherine D. Rice to the Company's Board of Trustees, effective March 15, 2023. Ms. Rice is a seasoned leader with an extensive background in the real estate and financial industries and on public company boards. Her more than thirty-five years of experience includes key management and CFO roles with public and private real estate companies and deep expertise in the public and private capital markets where she has been involved in over $50 billion of capital-raising and financial advisory transactions. "We are thrilled to welcome Katy to our Board," said Jeff Olson, Chairman and CEO. "She brings valuable expertise across a
Urban Edge Properties (NYSE:UE) today announced the hiring of Jeffrey S. Mooallem as Chief Operating Officer, effective January 9, 2023. Mr. Mooallem is a veteran real estate executive with extensive experience across the industry. For the past five years, he has served as the President and CEO of Gazit Horizons, a U.S. subsidiary of Gazit Globe, a global real estate company, and prior to that, he served in executive leadership positions at Equity One, Inc., Federal Realty Investment Trust and Turnberry. Mr. Mooallem has deep expertise leasing, acquiring and redeveloping retail real estate and helped lead the transformation of Serramonte Mall in Daly City, California, Aventura Mall in Avent
-- Etan Bluman Appointed Senior Vice President, Finance and Investor Relations -- Urban Edge Properties (NYSE:UE) today announced Andrea Drazin has been named Chief Accounting Officer, effective October 14, 2022. Ms. Drazin will succeed Jennifer Holmes, who will step down to pursue a new opportunity as the Chief Financial Officer of a private residential developer. Ms. Drazin, who joined Urban Edge in March 2015, currently serves as Vice President, Corporate Controller responsible for SEC reporting, corporate accounting and treasury management. Prior to joining Urban Edge in 2015, Ms. Drazin worked in the audit practice for five years at Deloitte & Touche LLP specializing in real estate.
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4 - Urban Edge Properties (0001611547) (Issuer)
Morgan Stanley upgraded Urban Edge Properties from Underweight to Equal-Weight and set a new price target of $18.00 from $14.00 previously
Evercore ISI downgraded Urban Edge Properties from Outperform to In-line and set a new price target of $18.00
Wolfe Research initiated coverage of Urban Edge Properties with a rating of Outperform and set a new price target of $24.00
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2024 Outlook The Company has updated its 2024 full-year outlook, estimating net income of $0.12 to $0.17 per diluted share, FFO of $1.22 to $1.27 per diluted share, and FFO as Adjusted of $1.27 to $1.32 per diluted share. A reconciliation of the range of estimated earnings, FFO and FFO as Adjusted, as well as the assumptions used in our guidance can be found on page 4 of this release.
Urban Edge Props (NYSE:UE) reported quarterly earnings of $0.33 per share which beat the analyst consensus estimate of $0.30 by 10 percent. This is a 3.13 percent increase over earnings of $0.32 per share from the same period last year. The company reported quarterly sales of $109.626 million which beat the analyst consensus estimate of $107.693 million by 1.79 percent. This is a 10.24 percent increase over sales of $99.441 million the same period last year.
What Defines a Value Stock? A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock. Benzinga Insights has compiled a list of value stocks in the real estate sector that may be worth watching: Seven Hills Realty Trust (NASDAQ:SEVN) - P/E: 7.08 Comstock Holding Co (NASDAQ:CHCI) - P/E: 6.63 PennyMac Mortgage IT (NYSE:PMT) - P/E: 8.76 Presidio Property Trust (NASDAQ:SQFT) - P/E: 0.72 Urban Edge Props (NYSE:UE) - P/E: 8.11 Most recently, Seven Hills Realty Trust reported earnings per share at