Urstadt Biddle Properties Inc. (NYSE:UBA – Get Rating) – Stock analysts at B. Riley reduced their FY2023 EPS estimates for Urstadt Biddle Properties in a research note issued on Wednesday, September 14th. B. Riley analyst C. Kucera now anticipates that the real estate investment trust will post earnings per share of $1.58 for the year, down from their previous forecast of $1.64. B. Riley currently has a "Buy" rating and a $19.00 target price on the stock. The consensus estimate for Urstadt Biddle Properties' current full-year earnings is $1.47 per share. B. Riley also issued estimates for Urstadt Biddle Properties' Q4 2023 earnings at $0.42 EPS.
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Several other equities research analysts have also recently weighed in on the stock. TheStreet cut shares of Urstadt Biddle Properties from a "b-" rating to a "c+" rating in a research report on Monday, September 12th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Urstadt Biddle Properties from $22.00 to $19.00 and set a "hold" rating on the stock in a research report on Tuesday. Piper Sandler reduced their price target on shares of Urstadt Biddle Properties from $21.00 to $20.00 and set an "overweight" rating on the stock in a research report on Friday, June 10th. Finally, StockNews.com cut shares of Urstadt Biddle Properties from a "buy" rating to a "hold" rating in a research report on Monday, September 12th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.33.
Urstadt Biddle Properties Trading Up 3.3 %
Urstadt Biddle Properties stock opened at $16.48 on Friday. The stock has a market cap of $673.64 million, a P/E ratio of 25.35 and a beta of 1.08. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.64 and a quick ratio of 3.64. Urstadt Biddle Properties has a 1 year low of $15.43 and a 1 year high of $21.66. The firm's 50 day moving average price is $17.31 and its 200-day moving average price is $17.60.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Advisor Group Holdings Inc. boosted its stake in shares of Urstadt Biddle Properties by 23.1% during the first quarter. Advisor Group Holdings Inc. now owns 3,196 shares of the real estate investment trust's stock valued at $60,000 after purchasing an additional 600 shares during the period. State of Alaska Department of Revenue boosted its stake in shares of Urstadt Biddle Properties by 1.7% during the second quarter. State of Alaska Department of Revenue now owns 36,841 shares of the real estate investment trust's stock valued at $596,000 after purchasing an additional 620 shares during the period. Mutual of America Capital Management LLC boosted its stake in shares of Urstadt Biddle Properties by 16.6% during the second quarter. Mutual of America Capital Management LLC now owns 5,066 shares of the real estate investment trust's stock valued at $82,000 after purchasing an additional 720 shares during the period. Lazard Asset Management LLC boosted its stake in shares of Urstadt Biddle Properties by 21.5% during the second quarter. Lazard Asset Management LLC now owns 4,343 shares of the real estate investment trust's stock valued at $70,000 after purchasing an additional 769 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its stake in shares of Urstadt Biddle Properties by 2.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 32,014 shares of the real estate investment trust's stock valued at $602,000 after purchasing an additional 816 shares during the period. 53.89% of the stock is owned by hedge funds and other institutional investors.
Urstadt Biddle Properties Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.2375 per share. This represents a $0.95 annualized dividend and a yield of 5.76%. This is a positive change from Urstadt Biddle Properties's previous quarterly dividend of $0.24. The ex-dividend date is Thursday, September 29th. Urstadt Biddle Properties's payout ratio is presently 146.16%.
About Urstadt Biddle Properties
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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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