Urstadt Biddle Properties (NYSE:UBA) Downgraded by Zacks Investment Research

Urstadt Biddle Properties (NYSE:UBA) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, Zacks.com reports.

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. “

Separately, TheStreet raised Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Wednesday, May 22nd.

UBA opened at $21.40 on Friday. The company has a market capitalization of $851.43 million, a price-to-earnings ratio of 14.56, a price-to-earnings-growth ratio of 1.88 and a beta of 0.54. The company has a current ratio of 8.54, a quick ratio of 8.44 and a debt-to-equity ratio of 0.87. Urstadt Biddle Properties has a 12-month low of $18.50 and a 12-month high of $23.16.

In other news, COO Stephan A. Rapaglia sold 1,874 shares of Urstadt Biddle Properties stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $20.74, for a total transaction of $38,866.76. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 20.78% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in UBA. Norges Bank acquired a new stake in shares of Urstadt Biddle Properties during the 4th quarter worth approximately $7,309,000. Renaissance Technologies LLC grew its holdings in shares of Urstadt Biddle Properties by 8.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,125,417 shares of the real estate investment trust’s stock worth $23,229,000 after purchasing an additional 90,600 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Urstadt Biddle Properties by 1.0% during the 4th quarter. BlackRock Inc. now owns 5,054,821 shares of the real estate investment trust’s stock worth $97,154,000 after purchasing an additional 48,262 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Urstadt Biddle Properties by 839.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 52,046 shares of the real estate investment trust’s stock worth $1,075,000 after purchasing an additional 46,508 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Urstadt Biddle Properties by 9.3% during the 1st quarter. Geode Capital Management LLC now owns 391,421 shares of the real estate investment trust’s stock worth $8,078,000 after purchasing an additional 33,362 shares in the last quarter. 58.55% of the stock is currently owned by institutional investors.

Urstadt Biddle Properties Company Profile

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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