Urstadt Biddle Properties (UBA) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Urstadt Biddle Properties (NYSE:UBA) from a buy rating to a hold rating in a research note published on Wednesday.

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. “

Other research analysts have also issued reports about the stock. BidaskClub upgraded shares of Urstadt Biddle Properties from a hold rating to a buy rating in a research note on Friday, August 11th. FBR & Co restated a hold rating and set a $20.00 price objective on shares of Urstadt Biddle Properties in a research note on Thursday, September 21st. Deutsche Bank restated a hold rating and set a $23.00 price objective (up from $22.00) on shares of Urstadt Biddle Properties in a research note on Wednesday, September 20th. Finally, B. Riley restated a neutral rating on shares of Urstadt Biddle Properties in a research note on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $22.33.

Urstadt Biddle Properties (NYSE UBA) traded down $0.31 during trading on Wednesday, hitting $22.71. 57,100 shares of the stock traded hands, compared to its average volume of 116,693. The firm has a market cap of $906.85, a price-to-earnings ratio of 17.57, a PEG ratio of 2.22 and a beta of 0.53. Urstadt Biddle Properties has a one year low of $18.32 and a one year high of $25.43. The company has a quick ratio of 7.58, a current ratio of 7.58 and a debt-to-equity ratio of 0.71.

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 for the quarter, topping the consensus estimate of $0.16 by $0.17. The company had revenue of $31.87 million for the quarter, compared to analyst estimates of $29.30 million. Urstadt Biddle Properties had a net margin of 44.45% and a return on equity of 13.62%. sell-side analysts anticipate that Urstadt Biddle Properties will post 1.25 earnings per share for the current fiscal year.

In related news, VP John T. Hayes sold 4,900 shares of the company’s stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $22.20, for a total value of $108,780.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Stephan A. Rapaglia sold 1,500 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $21.70, for a total transaction of $32,550.00. The disclosure for this sale can be found here. 20.06% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Arizona State Retirement System grew its stake in Urstadt Biddle Properties by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 15,552 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 100 shares during the last quarter. Texas Permanent School Fund grew its stake in Urstadt Biddle Properties by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 21,706 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 181 shares during the last quarter. M&T Bank Corp grew its position in shares of Urstadt Biddle Properties by 7.0% during the 2nd quarter. M&T Bank Corp now owns 12,678 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 833 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Urstadt Biddle Properties by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,323 shares of the real estate investment trust’s stock worth $2,343,000 after purchasing an additional 1,068 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in shares of Urstadt Biddle Properties by 2.5% during the 1st quarter. Teachers Advisors LLC now owns 47,453 shares of the real estate investment trust’s stock worth $976,000 after purchasing an additional 1,135 shares in the last quarter. Institutional investors and hedge funds own 60.13% of the company’s stock.

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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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