Urstadt Biddle Properties (NYSE:UBA) Lowered to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of Urstadt Biddle Properties (NYSE:UBA) from a buy rating to a hold rating in a report released on Saturday morning, Zacks.com reports.

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 equities research analysts have also weighed in on the stock. DA Davidson restated a neutral rating on shares of Urstadt Biddle Properties in a report on Monday, July 29th. TheStreet upgraded shares of Urstadt Biddle Properties from a c+ rating to a b- rating in a report on Wednesday, May 22nd.

Shares of UBA traded up $0.07 during midday trading on Friday, reaching $21.49. The stock had a trading volume of 84,371 shares, compared to its average volume of 77,546. Urstadt Biddle Properties has a 1-year low of $18.50 and a 1-year high of $23.16. The business has a fifty day moving average price of $21.34. The firm has a market capitalization of $853.82 million, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.88 and a beta of 0.47. The company has a debt-to-equity ratio of 0.87, a quick ratio of 8.54 and a current ratio of 8.54.

The business also recently declared a quarterly dividend, which was paid on Friday, July 19th. Investors of record on Friday, July 5th were paid a dividend of $0.275 per share. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.10 annualized dividend and a yield of 5.12%. Urstadt Biddle Properties’s dividend payout ratio is currently 74.83%.

A number of large investors have recently made changes to their positions in the stock. Advisor Group Inc. boosted its holdings in shares of Urstadt Biddle Properties by 59.8% in the 4th quarter. Advisor Group Inc. now owns 2,832 shares of the real estate investment trust’s stock worth $54,000 after purchasing an additional 1,060 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Urstadt Biddle Properties by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 464,779 shares of the real estate investment trust’s stock worth $8,933,000 after purchasing an additional 9,294 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Urstadt Biddle Properties by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 358,059 shares of the real estate investment trust’s stock worth $6,881,000 after purchasing an additional 14,886 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Urstadt Biddle Properties by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 242,048 shares of the real estate investment trust’s stock worth $4,652,000 after purchasing an additional 1,318 shares in the last quarter. Finally, Bank of America Corp DE boosted its holdings in shares of Urstadt Biddle Properties by 39.8% in the 4th quarter. Bank of America Corp DE now owns 63,420 shares of the real estate investment trust’s stock worth $1,218,000 after purchasing an additional 18,058 shares in the last quarter. Hedge funds and other institutional investors own 58.54% of the company’s stock.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties.

Further Reading: What is the significance of a dead cat bounce?

Get a free copy of the Zacks research report on Urstadt Biddle Properties (UBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Urstadt Biddle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urstadt Biddle Properties and related companies with MarketBeat.com's FREE daily email newsletter.