Zacks Investment Research cut shares of Urstadt Biddle Properties Inc. (NYSE:UBA) from a buy rating to a hold rating in a report issued on Friday morning.

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. “

A number of other analysts also recently commented on UBA. BidaskClub upgraded Urstadt Biddle Properties from a hold rating to a buy rating in a report on Friday, August 11th. FBR & Co restated a mkt perform rating and set a $20.00 price objective on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. ValuEngine downgraded Urstadt Biddle Properties from a buy rating to a hold rating in a report on Friday, June 2nd. Finally, TheStreet upgraded Urstadt Biddle Properties from a c+ rating to a b- rating in a report on Monday, July 17th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $22.33.

Urstadt Biddle Properties (NYSE UBA) opened at 21.93 on Friday. Urstadt Biddle Properties has a 52-week low of $18.32 and a 52-week high of $25.43. The stock has a market capitalization of $826.85 million, a price-to-earnings ratio of 20.93 and a beta of 0.53. The stock’s 50 day moving average price is $20.94 and its 200 day moving average price is $20.25.

Urstadt Biddle Properties (NYSE:UBA) last issued its quarterly earnings results on Friday, September 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.17. The company had revenue of $31.87 million during the quarter, compared to the consensus estimate of $29.30 million. Urstadt Biddle Properties had a return on equity of 13.62% and a net margin of 44.45%. On average, analysts forecast that Urstadt Biddle Properties will post $0.94 EPS for the current year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.83%. Urstadt Biddle Properties’s payout ratio is 99.07%.

Urstadt Biddle Properties announced that its board has approved a share repurchase program on Friday, June 9th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Several hedge funds have recently added to or reduced their stakes in UBA. Teachers Advisors LLC increased its holdings in shares of Urstadt Biddle Properties by 11.3% during the 4th quarter. Teachers Advisors LLC now owns 46,318 shares of the real estate investment trust’s stock worth $1,117,000 after buying an additional 4,693 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in shares of Urstadt Biddle Properties by 4.3% during the 1st quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 500 shares during the last quarter. Nationwide Fund Advisors increased its holdings in shares of Urstadt Biddle Properties by 181.2% during the 1st quarter. Nationwide Fund Advisors now owns 95,732 shares of the real estate investment trust’s stock worth $1,968,000 after buying an additional 61,689 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in shares of Urstadt Biddle Properties by 20.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 45,560 shares of the real estate investment trust’s stock worth $935,000 after buying an additional 7,677 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Urstadt Biddle Properties by 36.3% during the 1st quarter. American Century Companies Inc. now owns 389,377 shares of the real estate investment trust’s stock worth $8,006,000 after buying an additional 103,752 shares during the last quarter. Institutional investors and hedge funds own 59.32% of the company’s stock.

Urstadt Biddle Properties Company Profile

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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