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UE

Urban Edge Properties NYSE:UE Stock Report

Last Price

US$13.76

Market Cap

US$1.7b

7D

-6.6%

1Y

-25.5%

Updated

28 Sep, 2022

Data

Company Financials +
UE fundamental analysis
Snowflake Score
Valuation5/6
Future Growth0/6
Past Performance5/6
Financial Health1/6
Dividends3/6

UE Stock Overview

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 Properties Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Urban Edge Properties
Historical stock prices
Current Share PriceUS$13.76
52 Week HighUS$19.96
52 Week LowUS$13.19
Beta1.52
1 Month Change-14.69%
3 Month Change-9.53%
1 Year Change-25.50%
3 Year Change-30.36%
5 Year Change-43.93%
Change since IPO-38.57%

Recent News & Updates

Aug 25

Urban Edge adds advertising exec to board, names Norman Jenkins lead trustee

Urban Edge Properties (NYSE:UE) named Mary L. Baglivo, a marketing and advertising veteran, to its board of trustees, effective Sept. 1.  At the same time, Susan Givens will retire from the board after she accepted a new executive position. Norman Jenkins, who has more than 25 years of real estate experience, will become lead trustee. Baglivo has led her own brand strategy and consulting firm, The Baglivo Group. She previously served as the CEO Americas at Saatchi & Saatchi, the global marketing and advertising agency. Before that, she was president at Arnold Worldwide, and had held several other leadership positions at other firms. Earlier this month, Urban Edge (UE) amended and increased its revolving credit facility to $800M

Shareholder Returns

UEUS REITsUS Market
7D-6.6%-4.5%-2.0%
1Y-25.5%-19.2%-20.3%

Return vs Industry: UE underperformed the US REITs industry which returned -20.4% over the past year.

Return vs Market: UE underperformed the US Market which returned -22.1% over the past year.

Price Volatility

Is UE's price volatile compared to industry and market?
UE volatility
UE Average Weekly Movement4.3%
REITs Industry Average Movement3.9%
Market Average Movement6.9%
10% most volatile stocks in US Market15.8%
10% least volatile stocks in US Market2.8%

Stable Share Price: UE is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: UE's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
2015116Jeff Olsonhttps://www.uedge.com

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 78 properties totaling 15.1 million square feet of gross leasable area.

Urban Edge Properties Fundamentals Summary

How do Urban Edge Properties's earnings and revenue compare to its market cap?
UE fundamental statistics
Market CapUS$1.68b
Earnings (TTM)US$91.29m
Revenue (TTM)US$433.47m

17.7x

P/E Ratio

3.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
UE income statement (TTM)
RevenueUS$433.47m
Cost of RevenueUS$147.05m
Gross ProfitUS$286.42m
Other ExpensesUS$195.13m
EarningsUS$91.29m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 03, 2022

Earnings per share (EPS)0.78
Gross Margin66.08%
Net Profit Margin21.06%
Debt/Equity Ratio163.9%

How did UE perform over the long term?

See historical performance and comparison

Dividends

4.7%

Current Dividend Yield

40%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is UE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for UE?

Other financial metrics that can be useful for relative valuation.

UE key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue7.6x
Enterprise Value/EBITDA17.3x
PEG Ratio12.2x

Price to Earnings Ratio vs Peers

How does UE's PE Ratio compare to its peers?

UE PE Ratio vs Peers
The above table shows the PE ratio for UE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average38x
IVT InvenTrust Properties
34.4x-105.4%US$1.5b
ROIC Retail Opportunity Investments
33.5x-4.9%US$1.9b
MAC Macerich
48.5x41.4%US$1.8b
SKT Tanger Factory Outlet Centers
35.5x8.1%US$1.6b
UE Urban Edge Properties
17.7x1.5%US$1.7b

Price-To-Earnings vs Peers: UE is good value based on its Price-To-Earnings Ratio (17.7x) compared to the peer average (38x).


Price to Earnings Ratio vs Industry

How does UE's PE Ratio compare vs other companies in the US REITs Industry?

Price-To-Earnings vs Industry: UE is good value based on its Price-To-Earnings Ratio (17.7x) compared to the US REITs industry average (26x)


Price to Earnings Ratio vs Fair Ratio

What is UE's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

UE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.7x
Fair PE Ratio29.4x

Price-To-Earnings vs Fair Ratio: UE is good value based on its Price-To-Earnings Ratio (17.7x) compared to the estimated Fair Price-To-Earnings Ratio (29.4x).


Share Price vs Fair Value

What is the Fair Price of UE when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: UE ($13.76) is trading below our estimate of fair value ($42.26)

Significantly Below Fair Value: UE is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.


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Future Growth

How is Urban Edge Properties forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


1.5%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: UE's forecast earnings growth (1.5% per year) is below the savings rate (1.9%).

Earnings vs Market: UE's earnings (1.5% per year) are forecast to grow slower than the US market (14.8% per year).

High Growth Earnings: UE's earnings are forecast to grow, but not significantly.

Revenue vs Market: UE's revenue (4.5% per year) is forecast to grow slower than the US market (7.6% per year).

High Growth Revenue: UE's revenue (4.5% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: UE's Return on Equity is forecast to be low in 3 years time (6.9%).


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Past Performance

How has Urban Edge Properties performed over the past 5 years?

Past Performance Score

5/6

Past Performance Score 5/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


0.6%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: UE has high quality earnings.

Growing Profit Margin: UE's current net profit margins (21.1%) are higher than last year (13%).


Past Earnings Growth Analysis

Earnings Trend: UE's earnings have grown by 0.6% per year over the past 5 years.

Accelerating Growth: UE's earnings growth over the past year (99.3%) exceeds its 5-year average (0.6% per year).

Earnings vs Industry: UE earnings growth over the past year (99.3%) exceeded the REITs industry 45.8%.


Return on Equity

High ROE: UE's Return on Equity (9.2%) is considered low.


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Financial Health

How is Urban Edge Properties's financial position?

Financial Health Score

1/6

Financial Health Score 1/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: UE's short term assets ($262.8M) exceed its short term liabilities ($23.4M).

Long Term Liabilities: UE's short term assets ($262.8M) do not cover its long term liabilities ($1.9B).


Debt to Equity History and Analysis

Debt Level: UE's net debt to equity ratio (151.8%) is considered high.

Reducing Debt: UE's debt to equity ratio has increased from 159.5% to 163.9% over the past 5 years.

Debt Coverage: UE's debt is not well covered by operating cash flow (8.4%).

Interest Coverage: UE's interest payments on its debt are not well covered by EBIT (2.6x coverage).


Balance Sheet


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Dividend

What is Urban Edge Properties's current dividend yield, its reliability and sustainability?

Dividend Score

3/6

Dividend Score 3/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


4.65%

Current Dividend Yield

Dividend Yield vs Market

Urban Edge Properties Dividend Yield vs Market
How does Urban Edge Properties dividend yield compare to the market?
SegmentDividend Yield
Company (Urban Edge Properties)4.7%
Market Bottom 25% (US)1.6%
Market Top 25% (US)4.6%
Industry Average (REITs)4.0%
Analyst forecast in 3 Years (Urban Edge Properties)4.8%

Notable Dividend: UE's dividend (4.65%) is higher than the bottom 25% of dividend payers in the US market (1.67%).

High Dividend: UE's dividend (4.65%) is low compared to the top 25% of dividend payers in the US market (4.69%).


Stability and Growth of Payments

Stable Dividend: UE has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: UE has only been paying a dividend for 8 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (39.6%), UE's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonable cash payout ratio (55%), UE's dividend payments are covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

6.7yrs

Average management tenure


CEO

Jeff Olson (54 yo)

7.75yrs

Tenure

US$6,830,104

Compensation

Mr. Jeffrey S. Olson, also known as Jeff, has been the Chief Executive Officer and Chairman of Urban Edge Properties since December 29, 2014. Mr. Olson served as the Chief Executive Officer at Equity One (...


CEO Compensation Analysis

Jeff Olson's Compensation vs Urban Edge Properties Earnings
How has Jeff Olson's remuneration changed compared to Urban Edge Properties's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

US$91m

Mar 31 2022n/an/a

US$92m

Dec 31 2021US$7mUS$1m

US$103m

Sep 30 2021n/an/a

US$79m

Jun 30 2021n/an/a

US$46m

Mar 31 2021n/an/a

US$65m

Dec 31 2020US$6mUS$1m

US$94m

Sep 30 2020n/an/a

US$78m

Jun 30 2020n/an/a

US$138m

Mar 31 2020n/an/a

US$133m

Dec 31 2019US$5mUS$1m

US$109m

Sep 30 2019n/an/a

US$113m

Jun 30 2019n/an/a

US$83m

Mar 31 2019n/an/a

US$110m

Dec 31 2018US$5mUS$1m

US$105m

Sep 30 2018n/an/a

US$84m

Jun 30 2018n/an/a

US$77m

Mar 31 2018n/an/a

US$37m

Dec 31 2017US$4mUS$1m

US$67m

Sep 30 2017n/an/a

US$100m

Jun 30 2017n/an/a

US$102m

Mar 31 2017n/an/a

US$123m

Dec 31 2016US$3mUS$1m

US$91m

Sep 30 2016n/an/a

US$87m

Jun 30 2016n/an/a

US$87m

Mar 31 2016n/an/a

US$69m

Dec 31 2015US$15mUS$1m

US$39m

Compensation vs Market: Jeff's total compensation ($USD6.83M) is about average for companies of similar size in the US market ($USD5.58M).

Compensation vs Earnings: Jeff's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: UE's management team is seasoned and experienced (6.7 years average tenure).


Board Members

Experienced Board: UE's board of directors are considered experienced (7.7 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

What is the ownership structure of UE?
Owner TypeNumber of SharesOwnership Percentage
Individual Insiders1,135,0170.9%
Institutions118,636,65899.1%

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Top 25 shareholders own 88.27% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
17.3%
BlackRock, Inc.
20,320,047$279.6m-0.64%0.01%
15.39%
The Vanguard Group, Inc.
18,070,528$248.7m-0.06%0.01%
8.61%
FMR LLC
10,108,022$139.1m164.97%0.01%
6.52%
Resolution Capital Limited
7,658,199$105.4m-23.87%1.52%
5.99%
State Street Global Advisors, Inc.
7,039,461$96.9m0.66%0.01%
4.77%
Massachusetts Financial Services Company
5,605,011$77.1m33%0.02%
3.26%
Westwood Management Corp.
3,828,326$52.7m13.61%0.61%
2.85%
LaSalle Investment Management Securities, LLC
3,348,176$46.1m-5.85%1.78%
2.39%
Interstate Properties, Inc.
2,802,526$38.6m0%100%
2.28%
Nikko Asset Management Co., Ltd.
2,680,604$36.9m-5.45%0.02%
2.09%
BNY Mellon Asset Management
2,449,389$33.7m17.83%0.01%
1.91%
Geode Capital Management, LLC
2,244,368$30.9m-2.6%no data
1.62%
Heitman Real Estate Securities LLC
1,905,435$26.2m105.33%1.32%
1.58%
Stichting Pensioenfonds ABP
1,855,391$25.5m-47.57%0.04%
1.5%
Dimensional Fund Advisors LP
1,764,411$24.3m-0.36%0.01%
1.5%
Cramer Rosenthal McGlynn, LLC
1,759,393$24.2m-11.54%1.14%
1.45%
Charles Schwab Investment Management, Inc.
1,702,438$23.4m0.59%0.01%
1.36%
Northern Trust Global Investments
1,595,206$22.0m-6.83%no data
1.23%
CenterSquare Investment Management LLC
1,444,614$19.9m804.86%0.27%
0.93%
Norges Bank Investment Management
1,097,360$15.1m0%no data
0.83%
Legal & General Investment Management Limited
969,491$13.3m2.74%no data
0.82%
Steven Roth
963,042$13.3m0%no data
0.74%
Morgan Stanley Investment Management Inc.
872,579$12.0m-13.41%0.01%
0.68%
Principal Global Investors, LLC
795,233$10.9m-3.5%0.01%
0.67%
SEI Investments Company
784,456$10.8m-26.29%0.02%

Company Information

Urban Edge Properties's employee growth, exchange listings and data sources


Key Information

  • Name: Urban Edge Properties
  • Ticker: UE
  • Exchange: NYSE
  • Founded: 2015
  • Industry: Retail REITs
  • Sector: Real Estate
  • Implied Market Cap: US$1.685b
  • Market Cap: US$1.616b
  • Shares outstanding: 122.56m
  • Website: https://www.uedge.com

Number of Employees


Location

  • Urban Edge Properties
  • 888 Seventh Avenue
  • 6th Floor
  • New York
  • New York
  • 10019
  • United States


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
UENYSE (New York Stock Exchange)YesCommon SharesUSUSDJan 2015
3UEMUN (Boerse Muenchen)YesCommon SharesDEEURJan 2015

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/09/28 00:00
End of Day Share Price2022/09/28 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.