Urstadt Biddle Properties Inc. (NYSE:UBA – Get Rating) announced a quarterly dividend on Thursday, September 8th, Wall Street Journal reports. Investors of record on Friday, September 30th will be paid a dividend of 0.2375 per share by the real estate investment trust on Friday, October 14th. This represents a $0.95 annualized dividend and a dividend yield of 5.75%. The ex-dividend date is Thursday, September 29th. This is an increase from Urstadt Biddle Properties's previous quarterly dividend of $0.24.
Urstadt Biddle Properties has decreased its dividend payment by an average of 8.3% per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Urstadt Biddle Properties has a dividend payout ratio of 93.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings tumble. Equities research analysts expect Urstadt Biddle Properties to earn $1.62 per share next year, which means the company should continue to be able to cover its $0.95 annual dividend with an expected future payout ratio of 58.6%.
Get Urstadt Biddle Properties alerts:Urstadt Biddle Properties Price Performance
Shares of UBA stock traded up $0.14 during trading on Thursday, hitting $16.53. The company had a trading volume of 98,149 shares, compared to its average volume of 140,048. The company has a debt-to-equity ratio of 0.87, a quick ratio of 6.45 and a current ratio of 6.45. The firm has a market capitalization of $675.68 million, a P/E ratio of 17.07 and a beta of 1.08. The stock's 50-day moving average price is $17.30 and its 200 day moving average price is $17.72. Urstadt Biddle Properties has a one year low of $15.43 and a one year high of $21.66.
Institutional Investors Weigh In On Urstadt Biddle Properties
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Captrust Financial Advisors bought a new stake in Urstadt Biddle Properties during the second quarter worth $45,000. Advisor Group Holdings Inc. increased its holdings 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 worth $60,000 after buying an additional 600 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Urstadt Biddle Properties by 42.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,640 shares of the real estate investment trust's stock worth $125,000 after buying an additional 1,963 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Urstadt Biddle Properties during the first quarter worth $252,000. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Urstadt Biddle Properties by 30.8% during the first quarter. Envestnet Asset Management Inc. now owns 14,142 shares of the real estate investment trust's stock worth $266,000 after buying an additional 3,330 shares in the last quarter. 53.89% of the stock is currently owned by institutional investors.Analyst Upgrades and Downgrades
Separately, Piper Sandler cut their price target on Urstadt Biddle Properties from $21.00 to $20.00 and set an "overweight" rating for the company in a research note on Friday, June 10th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Urstadt Biddle Properties currently has an average rating of "Moderate Buy" and a consensus price target of $21.33.
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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