Do Analysts Think Urban Edge Properties (UE) Is Still Worth Buying In 2024?

Urban Edge Properties (NYSE:UE) does about 881.17K shares in volume on a normal day but saw 908325 shares change hands in Tuesday’s trading. The company now has a market cap of 2.06B USD. Its current market price is $17.37, marking an increase of 0.40% compared to the previous close of $17.30. The 52 week high reached by this stock is $18.79 whilst the lowest price level in 52 weeks is $13.12.

Urban Edge Properties (UE) has a 20-day trading average at $16.83 and the current price is -7.56% off the 52-week high compared with 32.34% distance from its 52-week low. The 50-day simple moving average of the closing price is $16.76 and its 200-day simple moving average is $16.73. If we look at the stock’s price movements over the week, volatility stands at 1.20%, which increases to 1.82% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 62.17 to suggest the stock is neutral.

The consensus objective for the share price is $19.75, suggesting that the stock has a potential upside of 12.05% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on December 21, 2023 when Morgan Stanley upgraded the stock to “Equal-Weight” and issued a price target of between $14 and $18. Evercore ISI downgraded the stock to “In-line” from Outperform on November 27, 2023 at a price target of $18. Wolfe Research initiated its price target at $24.

Urban Edge Properties (UE) stock is up 0.46% over the week and 7.16% over the past month. Its price is -5.08% year-to-date and 22.24% over the past year.

To reach the target analysts have set, the stock logically needs to grow 12.05 percent from here.

The company has a return on investment of 9.05% and return on equity of 25.94%. The price to earnings ratio (P/E ratio) amounts to 7.57 while the forward price to earnings ratio is 66.81. The beta has a value of 1.53. Price to book ratio is 1.79 and price to sales ratio is 4.83.