Urstadt Biddle Properties (NYSE:UBA) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Saturday.
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. “
Separately, B. Riley set a $20.00 target price on Urstadt Biddle Properties and gave the stock a “hold” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $21.75.
Urstadt Biddle Properties (NYSE:UBA) last issued its earnings results on Friday, December 15th. The real estate investment trust reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.29). Urstadt Biddle Properties had a return on equity of 13.19% and a net margin of 42.95%. sell-side analysts anticipate that Urstadt Biddle Properties will post 1.3 earnings per share for the current year.
In other news, Director Catherine U. Biddle bought 109,542 shares of the company’s stock in a transaction on Friday, December 22nd. The shares were bought at an average cost of $16.00 per share, with a total value of $1,752,672.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 20.06% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. M&T Bank Corp increased its position in Urstadt Biddle Properties by 7.0% in the 2nd quarter. M&T Bank Corp now owns 12,678 shares of the real estate investment trust’s stock worth $250,000 after purchasing an additional 833 shares during the last quarter. Schwab Charles Investment Management Inc. increased its position in Urstadt Biddle Properties by 0.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,323 shares of the real estate investment trust’s stock worth $2,343,000 after purchasing an additional 1,068 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Urstadt Biddle Properties by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,854 shares of the real estate investment trust’s stock valued at $492,000 after acquiring an additional 1,496 shares during the last quarter. Voya Investment Management LLC increased its holdings in shares of Urstadt Biddle Properties by 14.3% during the 2nd quarter. Voya Investment Management LLC now owns 16,046 shares of the real estate investment trust’s stock valued at $318,000 after acquiring an additional 2,006 shares during the last quarter. Finally, Baker Ellis Asset Management LLC increased its holdings in shares of Urstadt Biddle Properties by 2.6% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 94,664 shares of the real estate investment trust’s stock valued at $2,054,000 after acquiring an additional 2,400 shares during the last quarter. 60.09% of the stock is currently owned by institutional investors.
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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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