Zacks Investment Research Upgrades Urstadt Biddle Properties (UBA) to “Buy”

Share on StockTwits

Urstadt Biddle Properties (NYSE:UBA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm presently has a $23.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.47% from the stock’s current price.

According to Zacks, “Urstadt Biddle Properties is a self-administered equity real estate investment trust that provides investors with an investment vehicle for participating in ownership of income-producing properties. Their core properties consist principally of community shopping centers located in the northeast. “

A number of other research analysts have also recently issued reports on the company. ValuEngine raised Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research note on Wednesday, October 24th. TheStreet cut Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a research note on Wednesday, October 3rd. Finally, DA Davidson cut Urstadt Biddle Properties from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $23.00 in a research note on Tuesday, September 11th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Urstadt Biddle Properties currently has an average rating of “Hold” and a consensus price target of $22.00.

Shares of NYSE:UBA traded down $0.17 on Wednesday, reaching $20.27. 762 shares of the company traded hands, compared to its average volume of 75,564. Urstadt Biddle Properties has a 52 week low of $17.20 and a 52 week high of $23.94. The stock has a market capitalization of $784.34 million, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 1.71 and a beta of 0.29. The company has a current ratio of 8.30, a quick ratio of 8.30 and a debt-to-equity ratio of 0.82.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC bought a new stake in shares of Urstadt Biddle Properties in the second quarter worth about $585,000. Legal & General Group Plc grew its stake in shares of Urstadt Biddle Properties by 16.4% in the first quarter. Legal & General Group Plc now owns 143,294 shares of the real estate investment trust’s stock worth $2,775,000 after purchasing an additional 20,141 shares during the last quarter. Dupont Capital Management Corp grew its stake in shares of Urstadt Biddle Properties by 114.8% in the second quarter. Dupont Capital Management Corp now owns 64,541 shares of the real estate investment trust’s stock worth $1,461,000 after purchasing an additional 34,498 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Urstadt Biddle Properties by 20.8% in the second quarter. Renaissance Technologies LLC now owns 844,400 shares of the real estate investment trust’s stock worth $19,109,000 after purchasing an additional 145,300 shares during the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Urstadt Biddle Properties in the second quarter worth about $247,000. 58.22% of the stock is currently owned by institutional investors.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 84 properties containing approximately 5.1 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.

Further Reading: Conference Calls

Get a free copy of the Zacks research report on Urstadt Biddle Properties (UBA)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Urstadt Biddle Properties Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Urstadt Biddle Properties and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply