Urban Edge Properties reports results for the quarter ended June 30 - Earnings Summary

• Urban Edge Properties UE.N reported quarterly adjusted earnings of 7 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of 26 cents. The mean expectation of three analysts for the quarter was for earnings of 9 cents per share. Wall Street expected results to range from 4 cents to 17 cents per share.

• Revenue rose 7.3% to $114.08 million from a year ago; analysts expected $115.99 million.

• Urban Edge Properties's reported EPS for the quarter was 46 cents​.

• The company reported quarterly net income of $57.98 million.

• Urban Edge Properties shares had risen by 6.9% this quarter and lost 7.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.2% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the commercial reits peer group is also "buy"

• Wall Street's median 12-month price target for Urban Edge Properties is $22.50, about 11.4% above its last closing price of $19.94

This summary was machine generated from LSEG data July 30 at 01:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)