Urstadt Biddle Properties Inc. (UBA) Upgraded to Buy by Zacks Investment Research
Zacks Investment Research upgraded shares of Urstadt Biddle Properties Inc. (NYSE:UBA) from a hold rating to a buy rating in a research note released on Thursday morning. They currently have $24.00 target price 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. “
Separately, Deutsche Bank AG raised their price target on Urstadt Biddle Properties from $23.00 to $24.00 and gave the company a buy rating in a report on Thursday, June 16th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Urstadt Biddle Properties presently has an average rating of Buy and an average price target of $24.00.
Shares of Urstadt Biddle Properties (NYSE:UBA) traded up 0.93% during midday trading on Thursday, reaching $21.76. 41,681 shares of the company’s stock traded hands. The stock has a 50 day moving average of $22.29 and a 200-day moving average of $22.37. Urstadt Biddle Properties has a 52-week low of $18.27 and a 52-week high of $25.19. The stock has a market cap of $806.93 million, a price-to-earnings ratio of 20.86 and a beta of 0.76.
Urstadt Biddle Properties (NYSE:UBA) last announced its quarterly earnings results on Thursday, September 8th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.32 by $0.01. Urstadt Biddle Properties had a net margin of 45.17% and a return on equity of 14.81%. The business had revenue of $28.30 million for the quarter. On average, equities research analysts expect that Urstadt Biddle Properties will post $1.18 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 21st. Investors of record on Friday, October 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date is Wednesday, October 5th. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 98.11%.
In related news, VP John T. Hayes sold 3,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $22.15, for a total value of $66,450.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 22.82% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Urstadt Biddle Properties by 2.4% in the second quarter. Vanguard Group Inc. now owns 3,966,471 shares of the real estate investment trust’s stock worth $98,289,000 after buying an additional 92,076 shares during the period. Silvercrest Asset Management Group LLC increased its position in Urstadt Biddle Properties by 112.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 165,285 shares of the real estate investment trust’s stock worth $3,463,000 after buying an additional 87,328 shares during the period. AQR Capital Management LLC increased its position in Urstadt Biddle Properties by 171.4% in the second quarter. AQR Capital Management LLC now owns 95,252 shares of the real estate investment trust’s stock worth $2,360,000 after buying an additional 60,154 shares during the period. ProShare Advisors LLC increased its position in Urstadt Biddle Properties by 146.5% in the second quarter. ProShare Advisors LLC now owns 83,016 shares of the real estate investment trust’s stock worth $2,057,000 after buying an additional 49,336 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in Urstadt Biddle Properties during the second quarter worth approximately $1,201,000. 53.63% of the stock is owned by institutional investors and hedge funds.
About Urstadt Biddle Properties
Urstadt Biddle Properties Inc is a real estate investment trust. The Company is engaged in the acquisition, ownership and management of commercial real estate. The Company’s primary business is the ownership of real estate investments, which consist principally of investments in income-producing properties, with primary emphasis on properties in the metropolitan New York tri-state area outside of the City of New York.
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