Urban Edge Properties (NYSE:UE) is reporting third quarter financial results on Thursday 5th November 2020, after market close.
According to analysts surveyed by Thomson Reuters, UE is expected to report 3Q20 income of $ 0.03 per share from revenue of $ 90.92 million.
For the full year, analysts anticipate top line of $ 343.97 million, while looking forward to income of $ 0.78 per share bottom line.
Previous Quarter Performance
Urban Edge Properties unveiled income for the second quarter of $ 0.18 per share, from the revenue of $ 73.62 million. The quarterly earnings 40.00 percent while revenues declined 28.35 percent compared with the same quarter last year. The top line results fell short of analysts by $ 8.9 million or 10.79 percent.
Stock Performance
Shares of Urban Edge Properties traded low $ -0.44 or -4.32 percent on Wednesday, reaching $ 9.75 with volume of 524.60 thousand shares. Urban Edge Properties has traded high as $ 10.08 and has cracked $ 9.68 on the downward trend
The closing price of $ 9.75, representing a 45.99 % increase from the 52 week low of $ 6.98 and a 53.06 % decrease over the 52 week high of $ 21.71.
The company has a market capital of $ 1.14 billion and is part of the Real Estate sector and REIT – Diversified industry.
Recent Analyst recommendations
- On 14th September 2020, maintained by Morgan Stanley at Underweight rating, with $ 9.80 target price.
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.
