Macquarie Group Ltd. boosted its stake in shares of Urstadt Biddle Properties Inc (NYSE:UBA) by 42.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 11,800 shares of the real estate investment trust’s stock after purchasing an additional 3,500 shares during the period. Macquarie Group Ltd.’s holdings in Urstadt Biddle Properties were worth $251,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Algert Global LLC bought a new position in Urstadt Biddle Properties during the third quarter valued at about $472,000. Tower Research Capital LLC TRC bought a new position in Urstadt Biddle Properties during the second quarter valued at about $585,000. AXA grew its position in Urstadt Biddle Properties by 38.7% during the third quarter. AXA now owns 29,270 shares of the real estate investment trust’s stock valued at $623,000 after buying an additional 8,170 shares during the period. Virginia Retirement Systems ET AL grew its position in Urstadt Biddle Properties by 45.5% during the third quarter. Virginia Retirement Systems ET AL now owns 33,600 shares of the real estate investment trust’s stock valued at $715,000 after buying an additional 10,500 shares during the period. Finally, Northern Trust Corp grew its position in Urstadt Biddle Properties by 0.4% during the second quarter. Northern Trust Corp now owns 575,759 shares of the real estate investment trust’s stock valued at $13,030,000 after buying an additional 2,531 shares during the period. Institutional investors own 59.31% of the company’s stock.
Shares of NYSE:UBA opened at $20.34 on Monday. The company has a debt-to-equity ratio of 0.82, a current ratio of 8.30 and a quick ratio of 8.30. The stock has a market cap of $812.08 million, a price-to-earnings ratio of 13.84, a price-to-earnings-growth ratio of 1.81 and a beta of 0.45. Urstadt Biddle Properties Inc has a twelve month low of $17.20 and a twelve month high of $23.16.
A number of brokerages have weighed in on UBA. ValuEngine lowered shares of Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Zacks Investment Research upgraded shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Wednesday, October 31st. Finally, TheStreet lowered shares of Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a research report on Wednesday, October 3rd. One analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $22.00.
In other Urstadt Biddle Properties news, CEO Willing L. Biddle bought 41,600 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was purchased at an average price of $15.50 per share, for a total transaction of $644,800.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 20.39% of the stock is owned by company insiders.
About Urstadt Biddle Properties
Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 84 properties containing approximately 5.1 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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