Short Interest in Urstadt Biddle Properties Inc. (NYSE:UBA) Expands By 22.4%

Urstadt Biddle Properties Inc. (NYSE:UBAGet Rating) was the recipient of a significant growth in short interest in May. As of May 31st, there was short interest totalling 561,700 shares, a growth of 22.4% from the May 15th total of 459,000 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average trading volume of 138,000 shares, the days-to-cover ratio is currently 4.1 days.

Shares of Urstadt Biddle Properties stock opened at $15.83 on Friday. Urstadt Biddle Properties has a twelve month low of $15.43 and a twelve month high of $21.66. The company has a quick ratio of 6.45, a current ratio of 6.45 and a debt-to-equity ratio of 0.87. The company’s 50 day moving average is $17.33 and its 200 day moving average is $18.86. The company has a market cap of $647.13 million, a price-to-earnings ratio of 16.49 and a beta of 1.06.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be paid a dividend of $0.237 per share. The ex-dividend date is Thursday, June 30th. This represents a $0.95 dividend on an annualized basis and a yield of 5.99%. Urstadt Biddle Properties’s dividend payout ratio is presently 98.96%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBA. Bogart Wealth LLC bought a new stake in shares of Urstadt Biddle Properties in the first quarter worth $28,000. Ensign Peak Advisors Inc purchased a new position in Urstadt Biddle Properties in the third quarter worth about $38,000. Hillsdale Investment Management Inc. grew its stake in shares of Urstadt Biddle Properties by 71.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 2,400 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,000 shares during the period. Advisor Group Holdings Inc. increased its position in shares of Urstadt Biddle Properties by 23.1% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,196 shares of the real estate investment trust’s stock valued at $60,000 after purchasing an additional 600 shares during the last quarter. Finally, Lazard Asset Management LLC increased its position in shares of Urstadt Biddle Properties by 138.4% during the 4th quarter. Lazard Asset Management LLC now owns 3,219 shares of the real estate investment trust’s stock valued at $68,000 after purchasing an additional 1,869 shares during the last quarter. 52.39% of the stock is currently owned by hedge funds and other institutional investors.

UBA has been the subject of a number of analyst reports. StockNews.com assumed coverage on shares of Urstadt Biddle Properties in a research note on Thursday, March 31st. They set a “buy” rating for the company. Piper Sandler decreased their price objective on shares of Urstadt Biddle Properties from $21.00 to $20.00 and set an “overweight” rating for the company in a report on Friday, June 10th. Finally, B. Riley reiterated a “buy” rating on shares of Urstadt Biddle Properties in a research note on Tuesday, March 15th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $21.33.

About Urstadt Biddle Properties (Get Rating)

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 81 properties containing approximately 5.2 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties.

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