JPMorgan Chase & Co. boosted its position in Urstadt Biddle Properties Inc. (NYSE:UBA) by 5.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 161,991 shares of the real estate investment trust’s stock after buying an additional 7,975 shares during the period. JPMorgan Chase & Co. owned about 0.47% of Urstadt Biddle Properties worth $4,014,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its stake in Urstadt Biddle Properties by 3.1% in the second quarter. Ameriprise Financial Inc. now owns 131,909 shares of the real estate investment trust’s stock worth $3,270,000 after buying an additional 3,990 shares during the period. Janney Montgomery Scott LLC purchased a new stake in Urstadt Biddle Properties during the second quarter worth approximately $229,000. TD Asset Management Inc. increased its stake in Urstadt Biddle Properties by 40.2% in the second quarter. TD Asset Management Inc. now owns 44,275 shares of the real estate investment trust’s stock worth $1,097,000 after buying an additional 12,700 shares during the period. State Board of Administration of Florida Retirement System increased its stake in Urstadt Biddle Properties by 0.4% in the second quarter. State Board of Administration of Florida Retirement System now owns 38,128 shares of the real estate investment trust’s stock worth $945,000 after buying an additional 168 shares during the period. Finally, Stanley Laman Group Ltd. purchased a new stake in Urstadt Biddle Properties during the second quarter worth approximately $1,082,000. 53.62% of the stock is owned by hedge funds and other institutional investors.
Urstadt Biddle Properties Inc. (NYSE:UBA) traded up 0.14% during mid-day trading on Monday, hitting $21.88. The stock had a trading volume of 12,472 shares. The stock has a 50-day moving average price of $22.26 and a 200 day moving average price of $22.38. Urstadt Biddle Properties Inc. has a 12-month low of $18.27 and a 12-month high of $25.19. The firm has a market cap of $811.38 million, a P/E ratio of 20.98 and a beta of 0.76.
Urstadt Biddle Properties (NYSE:UBA) last released its quarterly earnings data on Thursday, September 8th. The real estate investment trust reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.32 by $0.01. Urstadt Biddle Properties had a net margin of 45.17% and a return on equity of 14.81%. The business earned $28.30 million during the quarter. Equities analysts anticipate that Urstadt Biddle Properties Inc. will post $1.18 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be issued a $0.26 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.76%. Urstadt Biddle Properties’s payout ratio is currently 98.11%.
Several research analysts recently weighed in on the company. DA Davidson assumed coverage on Urstadt Biddle Properties in a research report on Friday. They set a “buy” rating and a $24.00 price target for the company. Zacks Investment Research upgraded Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday. Finally, Deutsche Bank AG cut Urstadt Biddle Properties from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research report on Monday, July 18th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $24.00.
In other news, VP John T. Hayes sold 3,000 shares of the stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $22.15, for a total value of $66,450.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 22.82% of the stock is owned by insiders.
About Urstadt Biddle Properties
Urstadt Biddle Properties Inc is a real estate investment trust. The Company is engaged in the acquisition, ownership and management of commercial real estate. The Company’s primary business is the ownership of real estate investments, which consist principally of investments in income-producing properties, with primary emphasis on properties in the metropolitan New York tri-state area outside of the City of New York.
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