Urstadt Biddle Properties (NYSE:UBA) Hits New 1-Year Low After Analyst Downgrade

Urstadt Biddle Properties Inc. (NYSE:UBAGet Rating) shares reached a new 52-week low during mid-day trading on Monday after Piper Sandler lowered their price target on the stock from $21.00 to $20.00. Piper Sandler currently has an overweight rating on the stock. Urstadt Biddle Properties traded as low as $15.98 and last traded at $15.98, with a volume of 119 shares traded. The stock had previously closed at $16.43.

Several other analysts have also issued reports on the company. StockNews.com started coverage on Urstadt Biddle Properties in a report on Thursday, March 31st. They set a “buy” rating on the stock. B. Riley reissued a “buy” rating on shares of Urstadt Biddle Properties in a report on Tuesday, March 15th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $21.33.

Several hedge funds have recently made changes to their positions in UBA. Invesco Ltd. lifted its position 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 buying an additional 440,567 shares during the last quarter. LSV Asset Management lifted its position 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 buying an additional 377,825 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Urstadt Biddle Properties by 67.4% during the 1st quarter. JPMorgan Chase & Co. now owns 387,748 shares of the real estate investment trust’s stock worth $7,294,000 after buying an additional 156,089 shares during the last quarter. Vanguard Group Inc. lifted its position 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 buying an additional 124,543 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Urstadt Biddle Properties during the 4th quarter worth $1,952,000. Institutional investors and hedge funds own 52.39% of the company’s stock.

The company has a debt-to-equity ratio of 0.87, a current ratio of 6.45 and a quick ratio of 6.45. The stock has a market capitalization of $646.25 million, a P/E ratio of 16.47 and a beta of 1.06. The firm has a 50-day simple moving average of $17.58 and a 200 day simple moving average of $18.97.

Urstadt Biddle Properties (NYSE:UBAGet Rating) last posted its earnings results on Friday, March 11th. The real estate investment trust reported $0.14 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.08). Urstadt Biddle Properties had a net margin of 36.22% and a return on equity of 14.34%. Sell-side analysts anticipate that Urstadt Biddle Properties Inc. will post 1.51 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Friday, July 1st will be given a $0.237 dividend. The ex-dividend date of this dividend is Thursday, June 30th. This represents a $0.95 annualized dividend and a yield of 6.00%. Urstadt Biddle Properties’s dividend payout ratio is presently 98.96%.

Urstadt Biddle Properties Company Profile (NYSE:UBA)

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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