Panagora Asset Management Inc. decreased its stake in Urstadt Biddle Properties Inc. (NYSE:UBA – Get Rating) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,495 shares of the real estate investment trust’s stock after selling 6,502 shares during the period. Panagora Asset Management Inc. owned approximately 0.51% of Urstadt Biddle Properties worth $3,799,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Captrust Financial Advisors bought a new position in Urstadt Biddle Properties in the second quarter worth $45,000. Quadrant Capital Group LLC boosted its stake in Urstadt Biddle Properties by 442.8% during the third quarter. Quadrant Capital Group LLC now owns 3,805 shares of the real estate investment trust’s stock worth $59,000 after buying an additional 3,104 shares in the last quarter. Advisor Group Holdings Inc. boosted its stake in Urstadt Biddle Properties by 23.1% during the first quarter. Advisor Group Holdings Inc. now owns 3,196 shares of the real estate investment trust’s stock worth $60,000 after buying an additional 600 shares in the last quarter. Mutual of America Capital Management LLC boosted its stake in Urstadt Biddle Properties by 18.5% during the third quarter. Mutual of America Capital Management LLC now owns 6,002 shares of the real estate investment trust’s stock worth $93,000 after buying an additional 936 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in Urstadt Biddle Properties by 42.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,640 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 1,963 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have weighed in on UBA. Piper Sandler lifted their price target on shares of Urstadt Biddle Properties from $20.00 to $21.00 in a research note on Thursday. StockNews.com began coverage on shares of Urstadt Biddle Properties in a research note on Saturday, June 3rd. They set a “hold” rating on the stock. Three analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, Urstadt Biddle Properties presently has a consensus rating of “Hold” and an average price target of $19.67.
Urstadt Biddle Properties Stock Down 0.0 %
Urstadt Biddle Properties (NYSE:UBA – Get Rating) last issued its earnings results on Wednesday, June 7th. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.20 by ($0.06). Urstadt Biddle Properties had a net margin of 27.05% and a return on equity of 11.38%. The firm had revenue of $35.07 million during the quarter, compared to analyst estimates of $36.14 million. Equities research analysts predict that Urstadt Biddle Properties Inc. will post 1.57 earnings per share for the current fiscal year.
Urstadt Biddle Properties Cuts Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Wednesday, June 14th will be given a dividend of $0.2083 per share. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.83 annualized dividend and a yield of 4.01%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is 149.25%.
Urstadt Biddle Properties Company Profile
Urstadt Biddle Properties, Inc operates as a real estate investment trust, which engages in the acquisition, ownership, and management of commercial properties. It operates through the Ridgeway and All Other Operating segments. The company was founded on July 7, 1969 and is headquartered in Greenwich, CT.
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