Zacks Investment Research upgraded shares of Urstadt Biddle Properties (NYSE:UBA) from a hold rating to a buy rating in a research note issued to investors on Friday morning. They currently have $22.00 target price on the real estate investment trust’s stock.
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 brokerages also recently commented on UBA. B. Riley set a $20.00 target price on shares of Urstadt Biddle Properties and gave the stock a hold rating in a research note on Wednesday, January 17th. TheStreet cut shares of Urstadt Biddle Properties from a b- rating to a c+ rating in a research report on Friday, February 9th. 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 stock currently has an average rating of Hold and a consensus target price of $21.25.
Urstadt Biddle Properties (NYSE:UBA) last issued its earnings results on Friday, March 9th. The real estate investment trust reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.20). The firm had revenue of $33.00 million for the quarter, compared to analyst estimates of $32.40 million. Urstadt Biddle Properties had a return on equity of 13.40% and a net margin of 42.41%. equities analysts forecast that Urstadt Biddle Properties will post 1.32 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 16th. Investors of record on Monday, April 2nd will be given a $0.27 dividend. The ex-dividend date of this dividend is Thursday, March 29th. This represents a $1.08 dividend on an annualized basis and a yield of 5.49%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 93.91%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new stake in Urstadt Biddle Properties in the fourth quarter valued at $130,000. Tower Research Capital LLC TRC lifted its position in Urstadt Biddle Properties by 136.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,040 shares of the real estate investment trust’s stock valued at $131,000 after acquiring an additional 3,482 shares during the last quarter. Advisor Group Inc. lifted its position in Urstadt Biddle Properties by 88.0% in the fourth quarter. Advisor Group Inc. now owns 6,128 shares of the real estate investment trust’s stock valued at $134,000 after acquiring an additional 2,868 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Urstadt Biddle Properties in the third quarter valued at $183,000. Finally, Janney Montgomery Scott LLC purchased a new stake in Urstadt Biddle Properties in the third quarter valued at $202,000. 61.39% of the stock is owned by hedge funds and other institutional investors.
Urstadt Biddle Properties Company Profile
Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 82 properties containing approximately 5.1 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.
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