First Quadrant L P CA Reduces Stake in Urstadt Biddle Properties Inc. (NYSE:UBA)

First Quadrant L P CA decreased its stake in Urstadt Biddle Properties Inc. (NYSE:UBA) by 15.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,315 shares of the real estate investment trust’s stock after selling 2,902 shares during the period. First Quadrant L P CA’s holdings in Urstadt Biddle Properties were worth $303,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. American Century Companies Inc. raised its position in Urstadt Biddle Properties by 36.3% in the first quarter. American Century Companies Inc. now owns 389,377 shares of the real estate investment trust’s stock valued at $8,006,000 after buying an additional 103,752 shares in the last quarter. Great West Life Assurance Co. Can raised its position in Urstadt Biddle Properties by 20.3% in the first quarter. Great West Life Assurance Co. Can now owns 45,560 shares of the real estate investment trust’s stock valued at $935,000 after buying an additional 7,677 shares in the last quarter. Bowling Portfolio Management LLC purchased a new position in Urstadt Biddle Properties during the first quarter valued at $370,000. ProShare Advisors LLC raised its position in Urstadt Biddle Properties by 5.7% in the first quarter. ProShare Advisors LLC now owns 272,417 shares of the real estate investment trust’s stock valued at $6,227,000 after buying an additional 14,667 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Urstadt Biddle Properties by 181.2% in the first quarter. Nationwide Fund Advisors now owns 95,732 shares of the real estate investment trust’s stock valued at $1,968,000 after buying an additional 61,689 shares in the last quarter. Institutional investors own 61.14% of the company’s stock.

Shares of Urstadt Biddle Properties Inc. (NYSE:UBA) traded down 3.20% during mid-day trading on Friday, hitting $20.58. 133,179 shares of the company traded hands. The stock has a market capitalization of $775.91 million, a price-to-earnings ratio of 19.75 and a beta of 0.53. Urstadt Biddle Properties Inc. has a one year low of $18.32 and a one year high of $25.43. The firm has a 50-day moving average of $20.48 and a 200-day moving average of $20.55.

Urstadt Biddle Properties announced that its board has initiated a share repurchase program on Friday, June 9th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were issued a dividend of $0.265 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.06 dividend on an annualized basis and a yield of 5.15%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 100.95%.

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Several research firms have recently weighed in on UBA. BidaskClub upgraded shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research note on Friday. TheStreet upgraded shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a research note on Monday, July 17th. Zacks Investment Research upgraded shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. FBR & Co restated a “mkt perform” rating and set a $20.00 price objective on shares of Urstadt Biddle Properties in a research note on Tuesday, July 11th. Finally, ValuEngine lowered shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $23.67.

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.

Institutional Ownership by Quarter for Urstadt Biddle Properties (NYSE:UBA)

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