Urstadt Biddle Properties (NYSE:UBA) Lifted to “Hold” at Zacks Investment Research

Urstadt Biddle Properties (NYSE:UBA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Thursday, Zacks.com reports.

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. “

A number of other equities research analysts also recently commented on UBA. ValuEngine downgraded Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a report on Tuesday. B. Riley reiterated a “neutral” rating on shares of Urstadt Biddle Properties in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $24.00.

Urstadt Biddle Properties stock traded up $0.01 during trading hours on Thursday, hitting $24.47. 36,733 shares of the stock traded hands, compared to its average volume of 93,042. The company has a debt-to-equity ratio of 0.88, a current ratio of 5.22 and a quick ratio of 5.22. The firm’s 50 day moving average price is $24.10 and its 200-day moving average price is $22.50. The stock has a market capitalization of $974.83 million, a price-to-earnings ratio of 16.65, a P/E/G ratio of 2.04 and a beta of 0.45. Urstadt Biddle Properties has a 1 year low of $18.50 and a 1 year high of $24.76.

In other news, COO Stephan A. Rapaglia sold 1,500 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $23.78, for a total value of $35,670.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO John T. Hayes sold 5,252 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $23.49, for a total value of $123,369.48. The disclosure for this sale can be found here. 20.78% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of Urstadt Biddle Properties by 1.8% during the 3rd quarter. California State Teachers Retirement System now owns 46,091 shares of the real estate investment trust’s stock worth $1,092,000 after acquiring an additional 812 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Urstadt Biddle Properties by 82.6% during the second quarter. Nisa Investment Advisors LLC now owns 2,547 shares of the real estate investment trust’s stock worth $53,000 after purchasing an additional 1,152 shares in the last quarter. Sheaff Brock Investment Advisors LLC boosted its position in Urstadt Biddle Properties by 6.6% during the second quarter. Sheaff Brock Investment Advisors LLC now owns 19,047 shares of the real estate investment trust’s stock worth $400,000 after purchasing an additional 1,176 shares in the last quarter. Swiss National Bank grew its holdings in Urstadt Biddle Properties by 2.6% in the second quarter. Swiss National Bank now owns 55,736 shares of the real estate investment trust’s stock valued at $1,170,000 after purchasing an additional 1,400 shares during the period. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Urstadt Biddle Properties by 33.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,302 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 1,567 shares during the period. 59.07% of the stock is currently owned by hedge funds and other institutional investors.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 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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