Urstadt Biddle Properties Inc. (NYSE:UBA)’s share price dropped 5% on Thursday . The stock traded as low as $23.25 and last traded at $23.41, with a volume of 1,080,826 shares traded. The stock had previously closed at $24.64.

UBA has been the topic of several recent analyst reports. Deutsche Bank AG increased their target price on Urstadt Biddle Properties from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, June 16th. Zacks Investment Research upgraded Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research report on Friday, April 29th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Urstadt Biddle Properties in a research report on Thursday, March 31st.

The company has a 50 day moving average of $23.84 and a 200 day moving average of $21.20. The stock has a market capitalization of $809.18 million and a P/E ratio of 22.64.

Urstadt Biddle Properties (NYSE:UBA) last issued its quarterly earnings results on Tuesday, June 7th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $29.20 million for the quarter. Equities research analysts anticipate that Urstadt Biddle Properties Inc. will post $1.20 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.41%. The ex-dividend date was Wednesday, June 29th.

In related news, COO Stephan A. Rapaglia sold 1,500 shares of Urstadt Biddle Properties stock in a transaction on Tuesday, June 21st. The stock was sold at an average price of $23.52, for a total value of $35,280.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Thomas D. Myers sold 5,000 shares of Urstadt Biddle Properties stock in a transaction on Friday, June 10th. The stock was sold at an average price of $22.97, for a total value of $114,850.00. The disclosure for this sale can be found here.

Several institutional investors recently modified their holdings of UBA. Foresters Investment Management Company Inc. boosted its position in shares of Urstadt Biddle Properties by 0.5% in the fourth quarter. Foresters Investment Management Company Inc. now owns 1,014,930 shares of the real estate investment trust’s stock worth $19,527,000 after buying an additional 4,900 shares during the last quarter. Mutual of America Capital Management LLC boosted its position in shares of Urstadt Biddle Properties by 9.3% in the fourth quarter. Mutual of America Capital Management LLC now owns 104,454 shares of the real estate investment trust’s stock worth $2,010,000 after buying an additional 8,917 shares during the last quarter. Morgan Stanley boosted its position in shares of Urstadt Biddle Properties by 21.0% in the fourth quarter. Morgan Stanley now owns 55,597 shares of the real estate investment trust’s stock worth $1,070,000 after buying an additional 9,667 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Urstadt Biddle Properties by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 324,715 shares of the real estate investment trust’s stock worth $6,248,000 after buying an additional 21,289 shares during the last quarter. Finally, Matarin Capital Management LLC bought a new position in shares of Urstadt Biddle Properties during the fourth quarter worth about $1,093,000.

Urstadt Biddle Properties Inc is a real estate investment trust. The Company is engaged in the acquisition, ownership and management of commercial real estate. The Company’s primary business is the ownership of real estate investments, which consist principally of investments in income-producing properties, with primary emphasis on properties in the metropolitan New York tri-state area outside of the City of New York.

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