Pacific Heights Asset Management LLC maintained its position in shares of Urstadt Biddle Properties Inc. (NYSE:UBA) during the second quarter, Holdings Channel reports. The fund owned 500,000 shares of the real estate investment trust’s stock at the end of the second quarter. Pacific Heights Asset Management LLC’s holdings in Urstadt Biddle Properties were worth $12,390,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of UBA. Naples Global Advisors LLC purchased a new position in shares of Urstadt Biddle Properties during the second quarter worth approximately $200,000. BNP Paribas Arbitrage SA bought a new position in Urstadt Biddle Properties during the second quarter valued at about $203,000. HL Financial Services LLC bought a new position in Urstadt Biddle Properties during the second quarter valued at about $248,000. Virginia Retirement System bought a new position in Urstadt Biddle Properties during the first quarter valued at about $277,000. Finally, Arizona State Retirement System increased its position in Urstadt Biddle Properties by 4.6% in the first quarter. Arizona State Retirement System now owns 13,552 shares of the real estate investment trust’s stock valued at $284,000 after buying an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.
Shares of Urstadt Biddle Properties Inc. (NYSE:UBA) traded down 1.13% during midday trading on Monday, hitting $21.97. 167,918 shares of the stock were exchanged. The company has a market cap of $814.71 million, a PE ratio of 21.06 and a beta of 0.76. The firm has a 50-day moving average price of $22.59 and a 200-day moving average price of $22.31. Urstadt Biddle Properties Inc. has a 12-month low of $18.27 and a 12-month high of $25.19.
Urstadt Biddle Properties (NYSE:UBA) last issued its earnings results on Thursday, September 8th. The real estate investment trust reported $0.31 EPS for the quarter, missing the Zacks’ consensus estimate 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. On average, equities analysts predict that Urstadt Biddle Properties Inc. will post $1.18 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 21st. Stockholders of record on Friday, October 7th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date of this dividend is Wednesday, October 5th. Urstadt Biddle Properties’s dividend payout ratio is presently 98.11%.
Several research firms have issued reports on UBA. Deutsche Bank AG upped their price objective on shares of Urstadt Biddle Properties from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, June 16th. Zacks Investment Research downgraded shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th.
Urstadt Biddle Properties Company Profile
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.
Want to see what other hedge funds are holding UBA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Urstadt Biddle Properties Inc. (NYSE:UBA).
Receive News & Ratings for Urstadt Biddle Properties Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urstadt Biddle Properties Inc. and related companies with MarketBeat.com's FREE daily email newsletter.