Urstadt Biddle Properties (NYSE:UBA) Reaches New 52-Week High at $21.09

Posted by Defense World Staff on Jun 18th, 2023

Urstadt Biddle Properties Inc. (NYSE:UBA – Get Rating)’s stock price reached a new 52-week high on Friday . The company traded as high as $21.09 and last traded at $20.96, with a volume of 66079 shares traded. The stock had previously closed at $20.90.

Analyst Ratings Changes

A number of equities research analysts recently commented on UBA shares. StockNews.com started coverage on shares of Urstadt Biddle Properties in a research note on Sunday, June 11th. They issued a “hold” rating on the stock. Piper Sandler increased their price objective on shares of Urstadt Biddle Properties from $20.00 to $21.00 in a research note on Thursday, June 8th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $19.67.

Urstadt Biddle Properties Price Performance

The company has a market capitalization of $825.93 million, a price-to-earnings ratio of 31.34 and a beta of 1.10. The company’s 50 day simple moving average is $18.42 and its 200-day simple moving average is $18.22. The company has a current ratio of 6.34, a quick ratio of 6.34 and a debt-to-equity ratio of 1.00.

Urstadt Biddle Properties (NYSE:UBA – Get Rating) last released its quarterly earnings results on Wednesday, June 7th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.06). Urstadt Biddle Properties had a return on equity of 11.38% and a net margin of 27.05%. The firm had revenue of $35.07 million for the quarter, compared to analyst estimates of $36.14 million. On average, 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 company also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Wednesday, June 14th will be paid a dividend of $0.2083 per share. The ex-dividend date is Tuesday, June 13th. This represents a $0.83 annualized dividend and a dividend yield of 3.97%. Urstadt Biddle Properties’s dividend payout ratio is currently 123.88%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Urstadt Biddle Properties by 3.1% during the 1st quarter. Vanguard Group Inc. now owns 4,182,596 shares of the real estate investment trust’s stock worth $78,674,000 after acquiring an additional 124,543 shares during the period. State Street Corp lifted its holdings in shares of Urstadt Biddle Properties by 8.1% during the 1st quarter. State Street Corp now owns 1,161,247 shares of the real estate investment trust’s stock worth $22,116,000 after acquiring an additional 87,507 shares during the period. Invesco Ltd. lifted its holdings in shares of Urstadt Biddle Properties by 79.0% during the 1st quarter. Invesco Ltd. now owns 998,463 shares of the real estate investment trust’s stock worth $18,782,000 after acquiring an additional 440,567 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Urstadt Biddle Properties by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 635,931 shares of the real estate investment trust’s stock worth $12,050,000 after acquiring an additional 5,200 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of Urstadt Biddle Properties by 259.7% during the 1st quarter. LSV Asset Management now owns 523,300 shares of the real estate investment trust’s stock worth $9,843,000 after acquiring an additional 377,825 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

About Urstadt Biddle Properties

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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.