Urban Edge Properties (NYSE:UE) to Issue $0.22 Quarterly Dividend

Urban Edge Properties (NYSE:UE) declared a quarterly dividend on Thursday, May 9th, Wall Street Journal reports. Investors of record on Friday, June 14th will be paid a dividend of 0.22 per share by the real estate investment trust on Friday, June 28th. This represents a $0.88 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date of this dividend is Thursday, June 13th.

Urban Edge Properties has raised its dividend payment by an average of 3.2% annually over the last three years. Urban Edge Properties has a dividend payout ratio of 66.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Urban Edge Properties to earn $1.28 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 68.8%.

Shares of NYSE UE opened at $17.67 on Wednesday. The company has a market capitalization of $2.13 billion, a P/E ratio of 13.49 and a beta of 0.92. Urban Edge Properties has a 1 year low of $16.13 and a 1 year high of $23.37. The company has a debt-to-equity ratio of 1.54, a current ratio of 6.66 and a quick ratio of 6.66.

Urban Edge Properties (NYSE:UE) last issued its quarterly earnings data on Wednesday, May 1st. The real estate investment trust reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.10. The business had revenue of $97.73 million during the quarter, compared to analyst estimates of $99.43 million. Urban Edge Properties had a net margin of 26.64% and a return on equity of 10.84%. Analysts forecast that Urban Edge Properties will post 1.25 earnings per share for the current fiscal year.

A number of brokerages recently issued reports on UE. Evercore ISI lowered shares of Urban Edge Properties from an “in-line” rating to an “underperform” rating in a report on Tuesday, February 19th. ValuEngine lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Monday, February 25th. Finally, Zacks Investment Research lowered shares of Urban Edge Properties from a “hold” rating to a “sell” rating in a report on Friday, April 12th.

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About Urban Edge Properties

Urban Edge Properties is a NYSE listed real estate investment trust focused on managing, acquiring, developing, and redeveloping retail real estate in urban communities, primarily in the New York metropolitan region. Urban Edge owns 87 properties totaling 16.1 million square feet of gross leasable area.

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Dividend History for Urban Edge Properties (NYSE:UE)

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