DA Davidson Research Analysts Raise Earnings Estimates for Urstadt Biddle Properties Inc. (UBA)
Urstadt Biddle Properties Inc. (NYSE:UBA) – Stock analysts at DA Davidson upped their FY2017 earnings estimates for Urstadt Biddle Properties in a report issued on Friday. DA Davidson analyst J. Lykins now anticipates that the real estate investment trust will post earnings per share of $1.28 for the year, up from their prior forecast of $1.27. DA Davidson also issued estimates for Urstadt Biddle Properties’ Q4 2017 earnings at $0.33 EPS, Q1 2018 earnings at $0.34 EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.34 EPS and Q4 2018 earnings at $0.35 EPS.
Other research analysts have also issued reports about the stock. TheStreet upgraded shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Monday, July 17th. BidaskClub upgraded shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday, August 11th. FBR & Co restated a “hold” rating and issued a $20.00 price objective on shares of Urstadt Biddle Properties in a report on Thursday. Deutsche Bank AG restated a “hold” rating and issued a $23.00 price objective (up from $22.00) on shares of Urstadt Biddle Properties in a report on Wednesday, September 20th. Finally, Zacks Investment Research lowered shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Urstadt Biddle Properties currently has an average rating of “Hold” and a consensus price target of $22.50.
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Shares of Urstadt Biddle Properties (NYSE UBA) opened at 21.52 on Monday. Urstadt Biddle Properties has a 52-week low of $18.32 and a 52-week high of $25.43. The company’s 50 day moving average is $20.96 and its 200 day moving average is $20.25. The firm has a market cap of $811.39 million, a price-to-earnings ratio of 20.53 and a beta of 0.53.
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 (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.17. The business had revenue of $31.87 million for the quarter, compared to analyst estimates of $29.30 million. Urstadt Biddle Properties had a net margin of 44.45% and a return on equity of 13.62%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Heartland Advisors Inc. bought a new position in Urstadt Biddle Properties in the 2nd quarter worth $2,970,000. Prudential Financial Inc. increased its stake 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 in the last quarter. American Century Companies Inc. increased its stake 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 in the last quarter. Vanguard Group Inc. increased its stake 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 in the last quarter. Finally, Lasalle Investment Management Securities LLC bought a new position in shares of Urstadt Biddle Properties in the 1st quarter worth about $212,000. Institutional investors and hedge funds own 59.32% of the company’s stock.
In other Urstadt Biddle Properties news, COO Stephan A. Rapaglia sold 1,500 shares of the company’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $21.70, for a total value of $32,550.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.06% of the stock is currently owned by corporate insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.06 annualized dividend and a yield of 4.93%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 99.07%.
Urstadt Biddle Properties declared that its Board of Directors has initiated a stock buyback program on Friday, June 9th that allows the company to repurchase 2,000,000 shares. This repurchase authorization allows 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 of directors believes its shares are undervalued.
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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