Deutsche Bank AG reiterated their hold rating on shares of Urstadt Biddle Properties Inc. (NYSE:UBA) in a report released on Wednesday morning. The brokerage currently has a $23.00 target price on the real estate investment trust’s stock, up from their previous target price of $22.00.

UBA has been the subject of several other research reports. ValuEngine cut Urstadt Biddle Properties from a buy rating to a hold rating in a research note on Friday, June 2nd. BidaskClub raised Urstadt Biddle Properties from a hold rating to a buy rating in a research note on Friday, August 11th. FBR & Co reaffirmed a mkt perform rating and issued a $20.00 price objective on shares of Urstadt Biddle Properties in a research note on Tuesday, July 11th. Zacks Investment Research cut Urstadt Biddle Properties from a hold rating to a sell rating in a research note on Tuesday, August 15th. Finally, TheStreet raised Urstadt Biddle Properties from a c+ rating to a b- rating in a research note on Monday, July 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $22.50.

Urstadt Biddle Properties (NYSE UBA) traded up 0.32% during mid-day trading on Wednesday, hitting $21.83. The stock had a trading volume of 37,339 shares. The stock has a market cap of $823.08 million, a price-to-earnings ratio of 20.83 and a beta of 0.53. The stock’s 50-day moving average price is $20.96 and its 200-day moving average price is $20.25. Urstadt Biddle Properties has a 12 month low of $18.32 and a 12 month high of $25.43.

Urstadt Biddle Properties (NYSE:UBA) last posted its earnings results on Friday, September 8th. The real estate investment trust reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.17. The company had revenue of $31.87 million during the quarter, compared to analysts’ expectations 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 predict that Urstadt Biddle Properties will post $0.94 earnings per share for the current year.

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Urstadt Biddle Properties announced that its Board of Directors has authorized a share buyback plan on Friday, June 9th that permits the company to repurchase 2,000,000 shares. This repurchase authorization permits the real estate investment trust to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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 paid a $0.265 dividend. 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 4.87%. Urstadt Biddle Properties’s payout ratio is presently 99.07%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Urstadt Biddle Properties in the second quarter valued at $542,000. The Manufacturers Life Insurance Company grew its stake in shares of Urstadt Biddle Properties by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 24,854 shares of the real estate investment trust’s stock valued at $492,000 after buying an additional 1,496 shares in the last quarter. State Street Corp grew its stake in shares of Urstadt Biddle Properties by 4.2% in the second quarter. State Street Corp now owns 902,684 shares of the real estate investment trust’s stock valued at $17,879,000 after buying an additional 36,411 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Urstadt Biddle Properties by 71.8% in the second quarter. Goldman Sachs Group Inc. now owns 150,153 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 62,774 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its stake in shares of Urstadt Biddle Properties by 53.2% in the second quarter. Tudor Investment Corp ET AL now owns 16,953 shares of the real estate investment trust’s stock valued at $336,000 after buying an additional 5,887 shares in the last quarter. 59.32% of the stock is owned by institutional investors and hedge funds.

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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