DA Davidson began coverage on shares of Urstadt Biddle Properties Inc. (NYSE:UBA) in a report issued on Friday morning. The firm issued a buy rating and a $24.00 price objective on the real estate investment trust’s stock.
Other research analysts also recently issued reports about the company. Deutsche Bank AG lifted 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. Zacks Investment Research cut Urstadt Biddle Properties from a buy rating to a hold rating in a research report on Wednesday, September 7th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $24.00.
Shares of Urstadt Biddle Properties (NYSE:UBA) traded down 0.37% during mid-day trading on Friday, reaching $21.77. The company’s stock had a trading volume of 44,507 shares. The firm’s 50-day moving average price is $22.26 and its 200 day moving average price is $22.38. The firm has a market cap of $807.30 million, a P/E ratio of 20.87 and a beta of 0.76. Urstadt Biddle Properties has a 12-month low of $18.27 and a 12-month high of $25.19.
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 Zacks’ 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 company earned $28.30 million during the quarter. On average, analysts expect that Urstadt Biddle Properties will post $1.18 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be given a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.76%. Urstadt Biddle Properties’s payout ratio is 98.11%.
In other news, VP John T. Hayes sold 3,000 shares of the firm’s stock in a transaction on 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 22.82% of the stock is owned by insiders.
A number of hedge funds have recently modified their holdings of the company. 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 approximately $128,000. Guggenheim Capital LLC purchased a new stake in shares of Urstadt Biddle Properties during the second quarter worth approximately $190,000. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Urstadt Biddle Properties during the second quarter worth approximately $195,000. 53.62% of the stock is owned by institutional investors.
Urstadt Biddle Properties Company Profile