Urstadt Biddle Properties (UBA) Downgraded to “Sell” at Zacks Investment Research

Urstadt Biddle Properties (NYSE:UBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday.

According to Zacks, “Urstadt Biddle Properties is a self-administered equity real estate investment trust that provides investors with an investment vehicle for participating in ownership of income-producing properties. Their core properties consist principally of community shopping centers located in the northeast. “

Separately, ValuEngine cut Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a report on Friday, November 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company. Urstadt Biddle Properties currently has an average rating of “Hold” and an average price target of $22.00.

Shares of NYSE UBA traded down $0.33 during midday trading on Friday, hitting $20.59. 49,764 shares of the stock traded hands, compared to its average volume of 95,918. The stock has a market capitalization of $829.61 million, a price-to-earnings ratio of 14.01, a PEG ratio of 1.93 and a beta of 0.57. The company has a debt-to-equity ratio of 0.82, a current ratio of 18.35 and a quick ratio of 18.35. Urstadt Biddle Properties has a one year low of $17.45 and a one year high of $23.16.

In other news, CEO Willing L. Biddle purchased 41,600 shares of the stock in a transaction dated Wednesday, December 26th. The shares were purchased at an average cost of $15.50 per share, with a total value of $644,800.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 20.78% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in UBA. BlackRock Inc. increased its stake in shares of Urstadt Biddle Properties by 5.8% in the 3rd quarter. BlackRock Inc. now owns 5,006,559 shares of the real estate investment trust’s stock worth $106,590,000 after purchasing an additional 272,242 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Urstadt Biddle Properties by 16.4% in the 3rd quarter. Renaissance Technologies LLC now owns 982,817 shares of the real estate investment trust’s stock worth $20,924,000 after purchasing an additional 138,417 shares in the last quarter. Panagora Asset Management Inc. increased its stake in shares of Urstadt Biddle Properties by 108.9% in the 3rd quarter. Panagora Asset Management Inc. now owns 147,466 shares of the real estate investment trust’s stock worth $3,140,000 after purchasing an additional 76,868 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Urstadt Biddle Properties by 13.8% in the 3rd quarter. American Century Companies Inc. now owns 250,809 shares of the real estate investment trust’s stock worth $5,340,000 after purchasing an additional 30,404 shares in the last quarter. Finally, Martingale Asset Management L P increased its stake in shares of Urstadt Biddle Properties by 14.9% in the 4th quarter. Martingale Asset Management L P now owns 229,502 shares of the real estate investment trust’s stock worth $4,412,000 after purchasing an additional 29,700 shares in the last quarter. 59.08% of the stock is currently owned by hedge funds and other institutional investors.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 84 properties containing approximately 5.1 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties.

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