Summit Global Investments boosted its position in Urstadt Biddle Properties Inc. (NYSE:UBA) by 43.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,000 shares of the real estate investment trust’s stock after purchasing an additional 7,600 shares during the period. Summit Global Investments owned approximately 0.07% of Urstadt Biddle Properties worth $495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in UBA. Vanguard Group Inc. increased its position in shares of Urstadt Biddle Properties by 3.4% during the first quarter. Vanguard Group Inc. now owns 4,600,967 shares of the real estate investment trust’s stock worth $94,596,000 after acquiring an additional 149,237 shares during the period. State Street Corp increased its position in shares of Urstadt Biddle Properties by 19.0% during the first quarter. State Street Corp now owns 866,273 shares of the real estate investment trust’s stock worth $17,808,000 after acquiring an additional 138,157 shares during the period. Renaissance Technologies LLC increased its position in shares of Urstadt Biddle Properties by 23.7% during the first quarter. Renaissance Technologies LLC now owns 632,100 shares of the real estate investment trust’s stock worth $12,996,000 after acquiring an additional 121,300 shares during the period. Bank of New York Mellon Corp increased its holdings in Urstadt Biddle Properties by 3.0% during the second quarter. Bank of New York Mellon Corp now owns 522,142 shares of the real estate investment trust’s stock valued at $10,338,000 after buying an additional 15,082 shares during the period. Finally, American Century Companies Inc. increased its holdings in Urstadt Biddle Properties by 9.0% during the second quarter. American Century Companies Inc. now owns 424,499 shares of the real estate investment trust’s stock valued at $8,405,000 after buying an additional 35,122 shares during the period. 59.32% of the stock is owned by institutional investors and hedge funds.

Several equities analysts recently issued reports on the stock. Zacks Investment Research raised shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating and set a $23.00 price objective on the stock in a report on Thursday, September 7th. BidaskClub raised shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday, August 11th. TheStreet raised shares of 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 price objective on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. Finally, ValuEngine lowered shares of 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 given a buy rating to the company’s stock. Urstadt Biddle Properties currently has a consensus rating of “Buy” and an average price target of $22.33.

Shares of Urstadt Biddle Properties Inc. (NYSE:UBA) opened at 21.49 on Thursday. Urstadt Biddle Properties Inc. has a one year low of $18.32 and a one year high of $25.43. The stock has a market capitalization of $810.26 million, a P/E ratio of 20.51 and a beta of 0.53. The stock’s 50 day moving average is $20.84 and its 200-day moving average is $20.27.

Urstadt Biddle Properties (NYSE:UBA) last released its quarterly earnings data on Friday, September 8th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.17. Urstadt Biddle Properties had a return on equity of 13.62% and a net margin of 44.45%. The firm had revenue of $31.87 million for the quarter, compared to the consensus estimate of $29.30 million. On average, equities research analysts expect that Urstadt Biddle Properties Inc. will post $0.94 EPS for the current year.

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

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a $0.265 dividend. The ex-dividend date is Thursday, October 5th. This represents a $1.06 dividend on an annualized basis and a yield of 4.93%. Urstadt Biddle Properties’s dividend payout ratio is currently 99.07%.

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Urstadt Biddle Properties 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.

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

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