Urstadt Biddle Properties Inc. (UBA) Sees Large Volume Increase
Urstadt Biddle Properties Inc. (NYSE:UBA) saw unusually-strong trading volume on Friday . Approximately 287,777 shares traded hands during mid-day trading, an increase of 10% from the previous session’s volume of 261,377 shares.The stock last traded at $23.64 and had previously closed at $23.50.
Several research analysts recently commented on UBA shares. BMO Capital Markets reiterated a “market perform” rating on shares of Urstadt Biddle Properties in a research report on Thursday, March 31st. Zacks Investment Research upgraded Urstadt Biddle Properties from a “hold” rating to a “strong-buy” rating and set a $27.00 price target for the company in a research report on Saturday, June 18th. Finally, Deutsche Bank AG lifted their price target 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.
The stock’s 50-day moving average is $23.84 and its 200 day moving average is $21.20. The firm has a market capitalization of $809.18 million and a price-to-earnings ratio of 22.64.
Urstadt Biddle Properties (NYSE:UBA) last posted its earnings results on Tuesday, June 7th. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.04. The firm had revenue of $29.20 million for the quarter. Equities research analysts forecast that Urstadt Biddle Properties Inc. will post $1.20 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Friday, July 1st were paid 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 of this dividend was Wednesday, June 29th.
In related news, EVP Thomas D. Myers sold 5,000 shares of the company’s stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $22.97, for a total transaction of $114,850.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Stephan A. Rapaglia sold 1,500 shares of the company’s stock in a transaction dated Tuesday, June 21st. The stock was sold at an average price of $23.52, for a total transaction of $35,280.00. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently added to or reduced their stakes in the company. Foresters Investment Management Company Inc. increased its position in 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 valued at $19,527,000 after buying an additional 4,900 shares during the period. Dimensional Fund Advisors LP increased its position in 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 valued at $6,248,000 after buying an additional 21,289 shares during the period. Matarin Capital Management LLC bought a new position in Urstadt Biddle Properties during the fourth quarter valued at $1,093,000. Schroder Investment Management Group bought a new position in Urstadt Biddle Properties during the fourth quarter valued at $1,778,000. Finally, Morgan Stanley increased its position in 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 valued at $1,070,000 after buying an additional 9,667 shares during the period.
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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