Insider Selling: Urstadt Biddle Properties Inc. (UBA) COO Sells $32,550.00 in Stock
Urstadt Biddle Properties Inc. (NYSE:UBA) COO Stephan A. Rapaglia sold 1,500 shares of the stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $21.70, for a total transaction of $32,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Urstadt Biddle Properties Inc. (NYSE UBA) traded down 0.78% during mid-day trading on Friday, hitting $21.52. 94,011 shares of the company were exchanged. The firm has a market capitalization of $811.39 million, a P/E ratio of 20.53 and a beta of 0.53. Urstadt Biddle Properties Inc. has a 12-month low of $18.32 and a 12-month high of $25.43. The company’s 50-day moving average price is $20.96 and its 200-day moving average price is $20.25.
Urstadt Biddle Properties (NYSE:UBA) last released its quarterly earnings data on Friday, September 8th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.17. The business had revenue of $31.87 million during 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%. Equities research analysts predict that Urstadt Biddle Properties Inc. will post $0.96 earnings per share for the current fiscal year.
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 given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 4.93%. The ex-dividend date is Thursday, October 5th. Urstadt Biddle Properties’s dividend payout ratio is 99.07%.
Urstadt Biddle Properties declared that its board has initiated a share buyback program on Friday, June 9th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue increased its position in Urstadt Biddle Properties by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,823 shares of the real estate investment trust’s stock valued at $115,000 after acquiring an additional 2,543 shares during the period. Mason Street Advisors LLC increased its position in Urstadt Biddle Properties by 10.3% in the 1st quarter. Mason Street Advisors LLC now owns 6,952 shares of the real estate investment trust’s stock valued at $143,000 after acquiring an additional 651 shares during the period. Credit Agricole S A increased its position in Urstadt Biddle Properties by 54.3% in the 1st quarter. Credit Agricole S A now owns 8,664 shares of the real estate investment trust’s stock valued at $178,000 after acquiring an additional 3,048 shares during the period. Lasalle Investment Management Securities LLC acquired a new position in Urstadt Biddle Properties in the 1st quarter valued at approximately $212,000. Finally, Naples Global Advisors LLC increased its position in Urstadt Biddle Properties by 5.7% in the 2nd quarter. Naples Global Advisors LLC now owns 11,175 shares of the real estate investment trust’s stock valued at $221,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 59.32% of the company’s stock.
Several analysts have recently weighed in on UBA shares. FBR & Co reaffirmed a “hold” rating and set a $20.00 price objective on shares of Urstadt Biddle Properties in a report on Thursday. Zacks Investment Research raised shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a report on Friday, June 16th. TheStreet raised shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Monday, July 17th. ValuEngine lowered shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Deutsche Bank AG reissued a “hold” rating and issued a $23.00 price target (up previously from $22.00) on shares of Urstadt Biddle Properties in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $22.50.
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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