FY2018 EPS Estimates for Urstadt Biddle Properties Inc. Cut by DA Davidson (UBA)
Urstadt Biddle Properties Inc. (NYSE:UBA) – Equities research analysts at DA Davidson reduced their FY2018 earnings per share (EPS) estimates for Urstadt Biddle Properties in a report issued on Tuesday. DA Davidson analyst J. Lykins now forecasts that the real estate investment trust will post earnings of $1.30 per share for the year, down from their prior forecast of $1.31.
A number of other equities research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating and set a $23.00 price objective for the company in a report on Thursday, September 7th. BidaskClub upgraded shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday, August 11th. TheStreet upgraded shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Monday, July 17th. FBR & Co reiterated a “mkt perform” rating and issued a $20.00 price objective on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. Finally, ValuEngine cut shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Urstadt Biddle Properties has an average rating of “Buy” and an average price target of $22.33.
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Shares of Urstadt Biddle Properties (NYSE:UBA) traded up 0.51% on Thursday, reaching $21.60. The company had a trading volume of 18,983 shares. Urstadt Biddle Properties has a 52 week low of $18.32 and a 52 week high of $25.43. The firm has a market capitalization of $814.41 million, a P/E ratio of 20.61 and a beta of 0.53. The company’s 50-day moving average price is $20.84 and its 200 day moving average price is $20.27.
Urstadt Biddle Properties (NYSE:UBA) last announced its quarterly earnings results on Friday, September 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.17. The company had revenue of $31.87 million during the quarter, compared to analysts’ expectations of $29.30 million. Urstadt Biddle Properties had a return on equity of 13.62% and a net margin of 44.45%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. lifted its stake in shares of Urstadt Biddle Properties by 16.6% in the first quarter. Prudential Financial Inc. now owns 78,988 shares of the real estate investment trust’s stock valued at $1,624,000 after buying an additional 11,220 shares during the period. Heartland Advisors Inc. bought a new stake in shares of Urstadt Biddle Properties in the second quarter valued at about $2,970,000. Vanguard Group Inc. lifted its stake in shares of Urstadt Biddle Properties by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,600,967 shares of the real estate investment trust’s stock valued at $94,596,000 after buying an additional 149,237 shares during the period. Lasalle Investment Management Securities LLC bought a new stake in shares of Urstadt Biddle Properties in the first quarter valued at about $212,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Urstadt Biddle Properties by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 5,823 shares of the real estate investment trust’s stock valued at $115,000 after buying an additional 2,543 shares during the period. Institutional investors and hedge funds own 59.32% of the company’s stock.
Urstadt Biddle Properties announced that its board has authorized a stock buyback plan on Friday, June 9th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 4.93%. The ex-dividend date of this dividend is Thursday, October 5th. Urstadt Biddle Properties’s payout ratio is presently 99.07%.
Urstadt Biddle Properties Company Profile
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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