Zacks Investment Management cut its holdings in shares of Urstadt Biddle Properties Inc (NYSE:UBA) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 34,329 shares of the real estate investment trust’s stock after selling 13,574 shares during the period. Zacks Investment Management owned 0.09% of Urstadt Biddle Properties worth $660,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of UBA. Advisor Group Inc. increased its position in shares of Urstadt Biddle Properties by 59.8% in the 4th quarter. Advisor Group Inc. now owns 2,832 shares of the real estate investment trust’s stock valued at $54,000 after acquiring an additional 1,060 shares during the period. LS Investment Advisors LLC increased its position in shares of Urstadt Biddle Properties by 318.8% in the 4th quarter. LS Investment Advisors LLC now owns 3,878 shares of the real estate investment trust’s stock valued at $75,000 after acquiring an additional 2,952 shares during the period. Meeder Asset Management Inc. increased its position in shares of Urstadt Biddle Properties by 64.0% in the 4th quarter. Meeder Asset Management Inc. now owns 7,078 shares of the real estate investment trust’s stock valued at $137,000 after acquiring an additional 2,761 shares during the period. Jefferies Group LLC acquired a new position in shares of Urstadt Biddle Properties in the 3rd quarter valued at $201,000. Finally, Oregon Public Employees Retirement Fund acquired a new position in shares of Urstadt Biddle Properties in the 4th quarter valued at $218,000. 60.00% of the stock is currently owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research report on Tuesday, December 25th.
Urstadt Biddle Properties (NYSE:UBA) last released its earnings results on Friday, March 8th. The real estate investment trust reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.04). Urstadt Biddle Properties had a net margin of 28.07% and a return on equity of 9.80%. The firm had revenue of $34.46 million during the quarter, compared to analyst estimates of $32.99 million. On average, analysts expect that Urstadt Biddle Properties Inc will post 1.43 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, April 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 5.39%. The ex-dividend date is Wednesday, April 3rd. Urstadt Biddle Properties’s payout ratio is 74.83%.
In related news, CEO Willing L. Biddle purchased 41,600 shares of the business’s stock in a transaction on Wednesday, December 26th. The shares were bought at an average cost of $15.50 per share, with a total value of $644,800.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.78% of the stock is owned by corporate insiders.
About Urstadt Biddle Properties
Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 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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