Capstone Asset Management Co. Reduces Position in Urstadt Biddle Properties Inc. (UBA)

Capstone Asset Management Co. cut its position in shares of Urstadt Biddle Properties Inc. (NYSE:UBA) by 3.0% during the second quarter, Holdings Channel reports. The institutional investor owned 14,075 shares of the real estate investment trust’s stock after selling 430 shares during the period. Capstone Asset Management Co.’s holdings in Urstadt Biddle Properties were worth $279,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Mason Street Advisors LLC raised its position in shares of Urstadt Biddle Properties by 10.3% in the first quarter. Mason Street Advisors LLC now owns 6,952 shares of the real estate investment trust’s stock worth $143,000 after buying an additional 651 shares in the last quarter. Credit Agricole S A raised its position in shares of Urstadt Biddle Properties by 54.3% in the first quarter. Credit Agricole S A now owns 8,664 shares of the real estate investment trust’s stock worth $178,000 after buying an additional 3,048 shares in the last quarter. Lasalle Investment Management Securities LLC purchased a new position in shares of Urstadt Biddle Properties during the first quarter worth $212,000. Tudor Investment Corp ET AL purchased a new position in shares of Urstadt Biddle Properties during the first quarter worth $228,000. Finally, Louisiana State Employees Retirement System raised its position in shares of Urstadt Biddle Properties by 4.3% in the first quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the real estate investment trust’s stock worth $249,000 after buying an additional 500 shares in the last quarter. 61.18% of the stock is currently owned by institutional investors and hedge funds.

Urstadt Biddle Properties Inc. (UBA) traded up 0.73% during mid-day trading on Wednesday, reaching $20.67. The company had a trading volume of 17,201 shares. The company has a market capitalization of $779.30 million, a price-to-earnings ratio of 19.84 and a beta of 0.53. Urstadt Biddle Properties Inc. has a 12 month low of $18.32 and a 12 month high of $25.43. The firm’s 50 day moving average price is $20.55 and its 200-day moving average price is $20.48.

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

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A number of brokerages have recently weighed in on UBA. ValuEngine lowered Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. FBR & Co reissued a “mkt perform” rating and issued a $20.00 price objective on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. BidaskClub raised Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research lowered Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, TheStreet lowered Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a report on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price 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.

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

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