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

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 analysts have also recently weighed in on the stock. BidaskClub raised shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research note 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 restated 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 lowered shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Urstadt Biddle Properties currently has a consensus rating of “Buy” and an average target price of $22.33.

Shares of Urstadt Biddle Properties (NYSE:UBA) opened at 21.70 on Friday. The firm has a 50-day moving average of $20.89 and a 200 day moving average of $20.29. The company has a market cap of $818.18 million, a P/E ratio of 20.71 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 (NYSE:UBA) last posted 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. Urstadt Biddle Properties had a net margin of 44.45% and a return on equity of 13.62%. The business had revenue of $31.87 million during the quarter, compared to analysts’ expectations of $29.30 million. Equities analysts expect that Urstadt Biddle Properties will post $0.94 EPS for the current fiscal year.

Urstadt Biddle Properties declared that its Board of Directors has approved a stock repurchase program on Friday, June 9th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

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Hedge funds have recently modified their holdings of the company. Prudential Financial Inc. lifted its holdings in shares of Urstadt Biddle Properties by 16.6% in the 1st quarter. Prudential Financial Inc. now owns 78,988 shares of the real estate investment trust’s stock worth $1,624,000 after acquiring an additional 11,220 shares during the last quarter. Heartland Advisors Inc. acquired a new position in shares of Urstadt Biddle Properties in the 2nd quarter worth approximately $2,970,000. Vanguard Group Inc. lifted its holdings in shares of Urstadt Biddle Properties by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 4,600,967 shares of the real estate investment trust’s stock worth $94,596,000 after acquiring an additional 149,237 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Urstadt Biddle Properties by 9.0% in the 2nd quarter. American Century Companies Inc. now owns 424,499 shares of the real estate investment trust’s stock worth $8,405,000 after acquiring an additional 35,122 shares during the last quarter. Finally, Lasalle Investment Management Securities LLC acquired a new position in shares of Urstadt Biddle Properties in the 1st quarter worth approximately $212,000. Hedge funds and other institutional investors own 59.32% of the company’s stock.

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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