Urstadt Biddle Properties Inc. (NYSE:UBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Thursday. The brokerage currently has a $24.00 price objective on the real estate investment trust’s stock. Zacks Investment Research’s price target would indicate a potential upside of 11.47% from the company’s current price.
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 lifted their target price on Urstadt Biddle Properties from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, June 16th.
Shares of Urstadt Biddle Properties (NYSE:UBA) opened at 21.53 on Thursday. The firm’s 50-day moving average is $22.33 and its 200-day moving average is $22.38. Urstadt Biddle Properties has a 52 week low of $18.27 and a 52 week high of $25.19. The firm has a market capitalization of $798.40 million, a P/E ratio of 20.64 and a beta of 0.76.
Urstadt Biddle Properties (NYSE:UBA) last released its earnings results on Thursday, September 8th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate of $0.32 by $0.01. The business had revenue of $28.30 million for the quarter. Urstadt Biddle Properties had a return on equity of 14.81% and a net margin of 45.17%. Equities analysts anticipate that Urstadt Biddle Properties will post $1.18 EPS for the current year.
The company also recently disclosed 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 4.83%. The ex-dividend date of this dividend is Wednesday, October 5th. Urstadt Biddle Properties’s dividend payout ratio is currently 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 sale was disclosed in a legal filing with the SEC, which is available through this link. 22.82% of the stock is owned by corporate insiders.
A number of large investors have recently made changes to their positions in UBA. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in shares of Urstadt Biddle Properties by 27.5% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 4,637 shares of the real estate investment trust’s stock worth $115,000 after buying an additional 1,000 shares in the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its stake in shares of Urstadt Biddle Properties by 4.8% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 5,129 shares of the real estate investment trust’s stock worth $127,000 after buying an additional 233 shares in the last quarter. Mason Street Advisors LLC purchased a new stake in shares of Urstadt Biddle Properties during the second quarter worth about $128,000. Guggenheim Capital LLC purchased a new stake in shares of Urstadt Biddle Properties during the second quarter worth about $190,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Urstadt Biddle Properties during the second quarter worth about $195,000. Institutional investors and hedge funds own 53.63% of the company’s stock.
Urstadt Biddle Properties Company Profile
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.