Urstadt Biddle Properties Inc. (NYSE:UBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Tuesday.

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 analysts have also issued reports about the stock. TheStreet lowered shares of Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a research report on Friday, May 12th. FBR & Co reiterated a “mkt perform” rating and issued a $20.00 price target on shares of Urstadt Biddle Properties in a research report on Tuesday, July 11th. ValuEngine lowered shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $23.67.

Urstadt Biddle Properties (NYSE UBA) traded down 1.44% on Tuesday, hitting $20.55. The stock had a trading volume of 13,245 shares. The company has a 50-day moving average price of $20.52 and a 200 day moving average price of $20.50. The firm has a market cap of $774.78 million, a PE ratio of 19.72 and a beta of 0.53. Urstadt Biddle Properties has a 52-week low of $18.32 and a 52-week high of $25.43.

Urstadt Biddle Properties announced that its Board of Directors has initiated a share buyback program on Friday, June 9th that permits the company to buyback 2,000,000 outstanding shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

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Hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Urstadt Biddle Properties by 0.6% in the second quarter. Arizona State Retirement System now owns 15,552 shares of the real estate investment trust’s stock worth $308,000 after buying an additional 100 shares during the period. UBS Group AG raised its position in shares of Urstadt Biddle Properties by 1.4% in the first quarter. UBS Group AG now owns 12,623 shares of the real estate investment trust’s stock worth $260,000 after buying an additional 176 shares during the period. Texas Permanent School Fund raised its position in shares of Urstadt Biddle Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 21,706 shares of the real estate investment trust’s stock worth $430,000 after buying an additional 181 shares during the period. Loeb Partners Corp raised its position in shares of Urstadt Biddle Properties by 2.1% in the first quarter. Loeb Partners Corp now owns 24,500 shares of the real estate investment trust’s stock worth $504,000 after buying an additional 500 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Urstadt Biddle Properties by 4.3% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 61.18% of the company’s stock.

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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