Urstadt Biddle Properties (NYSE:UBA) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Urstadt Biddle Properties (NYSE:UBA) from a hold rating to a buy rating in a report issued on Friday, Zacks.com reports. Zacks Investment Research currently has $24.00 price target 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. “

Several other research analysts have also issued reports on the stock. TheStreet upgraded shares of Urstadt Biddle Properties from a c+ rating to a b- rating in a research note on Wednesday, May 22nd. DA Davidson reiterated a neutral rating on shares of Urstadt Biddle Properties in a research note on Monday, July 29th.

Shares of Urstadt Biddle Properties stock opened at $20.83 on Friday. 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 stock has a 50-day simple moving average of $21.33. The company has a market cap of $856.61 million, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.88 and a beta of 0.47. Urstadt Biddle Properties has a 1 year low of $18.50 and a 1 year high of $23.16.

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, July 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 5.28%. Urstadt Biddle Properties’s dividend payout ratio is currently 74.83%.

Large investors have recently added to or reduced their stakes in the business. Victory Capital Management Inc. increased its stake in Urstadt Biddle Properties by 23.2% during the 1st quarter. Victory Capital Management Inc. now owns 89,816 shares of the real estate investment trust’s stock valued at $1,854,000 after purchasing an additional 16,900 shares in the last quarter. Geode Capital Management LLC increased its stake in Urstadt Biddle Properties by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 358,059 shares of the real estate investment trust’s stock valued at $6,881,000 after purchasing an additional 14,886 shares in the last quarter. Albert D Mason Inc. increased its stake in Urstadt Biddle Properties by 0.6% during the 1st quarter. Albert D Mason Inc. now owns 84,489 shares of the real estate investment trust’s stock valued at $1,744,000 after purchasing an additional 470 shares in the last quarter. State of Alaska Department of Revenue increased its stake in Urstadt Biddle Properties by 9.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 21,677 shares of the real estate investment trust’s stock valued at $454,000 after purchasing an additional 1,890 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Urstadt Biddle Properties by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 464,779 shares of the real estate investment trust’s stock valued at $8,933,000 after purchasing an additional 9,294 shares in the last quarter. Institutional investors and hedge funds own 58.56% 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.

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