Urstadt Biddle Properties Inc. (NYSE:UBA) was the recipient of a large drop in short interest in April. As of April 15th, there was short interest totalling 395,600 shares, a drop of 16.2% from the March 31st total of 472,100 shares. Based on an average daily trading volume, of 172,300 shares, the days-to-cover ratio is presently 2.3 days. Currently, 1.3% of the shares of the company are short sold.
Several research firms have commented on UBA. DA Davidson lifted their target price on shares of Urstadt Biddle Properties from $16.00 to $20.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 16th. Zacks Investment Research raised shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Tuesday, March 9th. B. Riley lifted their price target on shares of Urstadt Biddle Properties from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, March 16th. Finally, Piper Sandler raised shares of Urstadt Biddle Properties from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $18.00 to $22.00 in a report on Thursday, April 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $18.60.
Several institutional investors and hedge funds have recently added to or reduced their stakes in UBA. Meeder Asset Management Inc. grew its position in Urstadt Biddle Properties by 1,064.7% in the first quarter. Meeder Asset Management Inc. now owns 3,366 shares of the real estate investment trust’s stock worth $55,000 after acquiring an additional 3,077 shares in the last quarter. Marshall Wace LLP purchased a new position in Urstadt Biddle Properties in the first quarter worth $151,000. HighTower Advisors LLC purchased a new position in Urstadt Biddle Properties in the fourth quarter worth $157,000. Advisor Partners LLC purchased a new position in Urstadt Biddle Properties in the third quarter worth $120,000. Finally, Virtu Financial LLC purchased a new position in Urstadt Biddle Properties in the fourth quarter worth $196,000. Hedge funds and other institutional investors own 53.55% of the company’s stock.
Shares of UBA traded up $0.07 during mid-day trading on Tuesday, reaching $18.40. 105,389 shares of the stock traded hands, compared to its average volume of 180,361. The firm has a fifty day moving average price of $17.57 and a 200 day moving average price of $14.71. The company has a market cap of $741.56 million, a price-to-earnings ratio of 84.32 and a beta of 0.99. The company has a current ratio of 2.85, a quick ratio of 2.85 and a debt-to-equity ratio of 0.97. Urstadt Biddle Properties has a 1 year low of $8.22 and a 1 year high of $18.63.
Urstadt Biddle Properties (NYSE:UBA) last released its quarterly earnings results on Thursday, March 11th. The real estate investment trust reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.09. Urstadt Biddle Properties had a net margin of 17.50% and a return on equity of 6.39%. On average, sell-side analysts anticipate that Urstadt Biddle Properties will post 1.23 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, April 16th. Stockholders of record on Thursday, April 1st were given a dividend of $0.14 per share. The ex-dividend date was Wednesday, March 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.04%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is currently 47.06%.
Urstadt Biddle Properties Company Profile
Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 81 properties containing approximately 5.2 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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