California Public Employees Retirement System lowered its stake in Urstadt Biddle Properties Inc. (NYSE:UBA) by 18.7% during the first quarter, Holdings Channel reports. The firm owned 50,400 shares of the real estate investment trust’s stock after selling 11,600 shares during the period. California Public Employees Retirement System’s holdings in Urstadt Biddle Properties were worth $1,036,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its stake in Urstadt Biddle Properties by 2.5% in the first quarter. Teachers Advisors LLC now owns 47,453 shares of the real estate investment trust’s stock valued at $976,000 after buying an additional 1,135 shares during the period. Lasalle Investment Management Securities LLC bought a new stake in Urstadt Biddle Properties during the first quarter valued at about $212,000. Principal Financial Group Inc. raised its stake in Urstadt Biddle Properties by 6.2% in the first quarter. Principal Financial Group Inc. now owns 246,495 shares of the real estate investment trust’s stock valued at $5,068,000 after buying an additional 14,485 shares during the period. Credit Agricole S A raised its stake in Urstadt Biddle Properties by 54.3% in the first quarter. Credit Agricole S A now owns 8,664 shares of the real estate investment trust’s stock valued at $178,000 after buying an additional 3,048 shares during the period. Finally, Asset Management One Co. Ltd. raised its stake in Urstadt Biddle Properties by 4.5% in the first quarter. Asset Management One Co. Ltd. now owns 99,206 shares of the real estate investment trust’s stock valued at $2,030,000 after buying an additional 4,305 shares during the period. 61.14% of the stock is currently owned by institutional investors.

Urstadt Biddle Properties Inc. (UBA) traded down 3.20% during mid-day trading on Friday, hitting $20.58. The stock had a trading volume of 133,179 shares. The stock has a market capitalization of $775.91 million, a P/E ratio of 19.75 and a beta of 0.53. The company’s 50 day moving average is $20.48 and its 200-day moving average is $20.55. Urstadt Biddle Properties Inc. has a 52 week low of $18.32 and a 52 week high of $25.43.

The business also recently declared a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend was Wednesday, June 28th. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 100.95%.

Urstadt Biddle Properties declared that its Board of Directors has authorized a stock buyback plan on Friday, June 9th that authorizes the company to repurchase 2,000,000 shares. This repurchase authorization authorizes the real estate investment trust to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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Several analysts have recently issued reports on the company. BidaskClub raised Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday. TheStreet raised Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Monday, July 17th. FBR & Co reissued a “mkt perform” rating and set a $20.00 target price on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. Zacks Investment Research raised Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a report on Friday, June 16th. Finally, ValuEngine lowered Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $23.67.

Urstadt Biddle Properties Company Profile

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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Institutional Ownership by Quarter for Urstadt Biddle Properties (NYSE:UBA)

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