Zacks Investment Research upgraded shares of Urstadt Biddle Properties Inc. (NYSE:UBA) from a sell rating to a hold rating in a research report released on Thursday, September 7th. The brokerage currently has $23.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Urstadt Biddle Properties is a self-administered equity real estate investment trust that provides investors with an investment vehicle for participating in ownership of income-producing properties. Their core properties consist principally of community shopping centers located in the northeast. “
Several other research firms have also issued reports on UBA. TheStreet raised Urstadt Biddle Properties from a c+ rating to a b- rating in a research report on Monday, July 17th. BidaskClub raised Urstadt Biddle Properties from a hold rating to a buy rating in a research report on Friday, August 11th. FBR & Co reissued a mkt perform rating and issued a $20.00 target price on shares of Urstadt Biddle Properties in a research report on Tuesday, July 11th. Finally, ValuEngine downgraded Urstadt Biddle Properties from a buy rating to a hold rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and an average target price of $22.33.
Urstadt Biddle Properties (UBA) traded up 1.38% on Thursday, reaching $21.99. 322,374 shares of the company traded hands. Urstadt Biddle Properties has a 52-week low of $18.32 and a 52-week high of $25.43. The stock has a 50-day moving average price of $20.91 and a 200-day moving average price of $20.28. The firm has a market cap of $829.11 million, a P/E ratio of 20.98 and a beta of 0.53.
Urstadt Biddle Properties (NYSE:UBA) last announced its earnings results on Friday, September 8th. The real estate investment trust reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.17. The firm had revenue of $31.87 million for the quarter, compared to analysts’ expectations of $29.30 million. Urstadt Biddle Properties had a net margin of 44.45% and a return on equity of 13.62%. Analysts anticipate that Urstadt Biddle Properties will post $0.94 earnings per share for the current fiscal year.
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The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.82%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 99.07%.
Urstadt Biddle Properties announced that its Board of Directors has initiated a stock buyback program on Friday, June 9th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Institutional investors and hedge funds have recently modified their holdings of the company. Prudential Financial Inc. raised its holdings in shares of Urstadt Biddle Properties by 16.6% during the 1st quarter. Prudential Financial Inc. now owns 78,988 shares of the real estate investment trust’s stock worth $1,624,000 after acquiring an additional 11,220 shares in the last quarter. Heartland Advisors Inc. purchased a new stake in shares of Urstadt Biddle Properties during the 2nd quarter worth approximately $2,970,000. Vanguard Group Inc. raised its holdings in shares of Urstadt Biddle Properties by 3.4% during the 1st quarter. Vanguard Group Inc. now owns 4,600,967 shares of the real estate investment trust’s stock worth $94,596,000 after acquiring an additional 149,237 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Urstadt Biddle Properties by 9.0% during the 2nd quarter. American Century Companies Inc. now owns 424,499 shares of the real estate investment trust’s stock worth $8,405,000 after acquiring an additional 35,122 shares in the last quarter. Finally, Lasalle Investment Management Securities LLC purchased a new stake in shares of Urstadt Biddle Properties during the 1st quarter worth approximately $212,000. 59.32% of the stock is currently owned by institutional investors and hedge funds.
About Urstadt Biddle Properties
Urstadt Biddle Properties Inc is a real estate investment trust, which is engaged in the acquisition, ownership and management of commercial real estate. The Company owns Ridgeway Shopping Center (Ridgeway) property, which is located in Stamford, Connecticut. Its segments include Ridgeway and All Other Operating Segments.
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