Loeb Partners Corp Sells 2,500 Shares of Urstadt Biddle Properties Inc. (UBA)
Loeb Partners Corp lowered its position in Urstadt Biddle Properties Inc. (NYSE:UBA) by 10.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,000 shares of the real estate investment trust’s stock after selling 2,500 shares during the period. Loeb Partners Corp owned 0.06% of Urstadt Biddle Properties worth $436,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Prudential Financial Inc. increased its position in Urstadt Biddle Properties by 16.6% in the first quarter. Prudential Financial Inc. now owns 78,988 shares of the real estate investment trust’s stock valued at $1,624,000 after buying an additional 11,220 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its position in Urstadt Biddle Properties by 0.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,025 shares of the real estate investment trust’s stock valued at $507,000 after buying an additional 61 shares in the last quarter. State Street Corp increased its position in Urstadt Biddle Properties by 10.1% in the fourth quarter. State Street Corp now owns 728,116 shares of the real estate investment trust’s stock valued at $17,554,000 after buying an additional 66,915 shares in the last quarter. Guggenheim Capital LLC purchased a new position in Urstadt Biddle Properties during the fourth quarter valued at $852,000. Finally, Lasalle Investment Management Securities LLC purchased a new position in Urstadt Biddle Properties during the first quarter valued at $212,000. 61.14% of the stock is owned by institutional investors.
Shares of Urstadt Biddle Properties Inc. (NYSE UBA) traded down 3.20% during trading on Friday, hitting $20.58. The stock had a trading volume of 133,179 shares. The company has a market cap of $775.91 million, a P/E 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 stock’s 50-day moving average price is $20.48 and its 200-day moving average price is $20.55.
Urstadt Biddle Properties declared that its board has approved a share repurchase program on Friday, June 9th that permits the company to repurchase 2,000,000 outstanding shares. This repurchase authorization permits the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board of directors believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.265 dividend. The ex-dividend date was Wednesday, June 28th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 5.15%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is 100.95%.
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UBA has been the subject of several research reports. ValuEngine downgraded Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. TheStreet raised Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. FBR & Co reaffirmed a “mkt perform” rating and issued a $20.00 target price on shares of Urstadt Biddle Properties in a research report on Tuesday, July 11th. Zacks Investment Research raised Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. Finally, BidaskClub raised Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research report on Friday. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Urstadt Biddle Properties currently has a consensus rating of “Buy” and a consensus target price of $23.67.
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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