Urstadt Biddle Properties (NYSE:UBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research 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 reiterated a “neutral” rating on shares of Urstadt Biddle Properties in a research report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Urstadt Biddle Properties has an average rating of “Hold” and a consensus price target of $21.75.
Urstadt Biddle Properties (NYSE:UBA) last released its quarterly earnings results on Friday, December 15th. The real estate investment trust reported $0.01 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.29). The business had revenue of $32.31 million during the quarter, compared to analyst estimates of $30.01 million. Urstadt Biddle Properties had a net margin of 42.95% and a return on equity of 13.19%. equities analysts anticipate that Urstadt Biddle Properties will post 1.31 EPS for the current fiscal year.
In other Urstadt Biddle Properties news, Director Catherine U. Biddle purchased 109,542 shares of the stock in a transaction dated Friday, December 22nd. The shares were acquired at an average cost of $16.00 per share, for a total transaction of $1,752,672.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 20.06% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in UBA. Renaissance Technologies LLC grew its position in shares of Urstadt Biddle Properties by 33.3% in the second quarter. Renaissance Technologies LLC now owns 842,700 shares of the real estate investment trust’s stock valued at $16,685,000 after purchasing an additional 210,600 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in shares of Urstadt Biddle Properties by 83.1% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 228,809 shares of the real estate investment trust’s stock valued at $4,975,000 after purchasing an additional 103,818 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Urstadt Biddle Properties by 44.8% in the third quarter. JPMorgan Chase & Co. now owns 266,414 shares of the real estate investment trust’s stock valued at $5,879,000 after purchasing an additional 82,421 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Urstadt Biddle Properties by 1.6% in the second quarter. Vanguard Group Inc. now owns 4,676,473 shares of the real estate investment trust’s stock valued at $92,594,000 after purchasing an additional 75,506 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Urstadt Biddle Properties by 71.8% during the second quarter. Goldman Sachs Group Inc. now owns 150,153 shares of the real estate investment trust’s stock valued at $2,973,000 after buying an additional 62,774 shares during the period. Institutional investors and hedge funds own 61.54% of the company’s stock.
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About Urstadt Biddle Properties
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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