Lazard Asset Management LLC Boosts Stake in Urstadt Biddle Properties Inc. (NYSE:UBA)

Lazard Asset Management LLC grew its stake in Urstadt Biddle Properties Inc. (NYSE:UBAGet Rating) by 21.5% in the second quarter, HoldingsChannel reports. The institutional investor owned 4,343 shares of the real estate investment trust’s stock after buying an additional 769 shares during the period. Lazard Asset Management LLC’s holdings in Urstadt Biddle Properties were worth $70,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in UBA. Invesco Ltd. raised its holdings in shares of Urstadt Biddle Properties by 79.0% in the first quarter. Invesco Ltd. now owns 998,463 shares of the real estate investment trust’s stock worth $18,782,000 after buying an additional 440,567 shares during the last quarter. LSV Asset Management raised its holdings in shares of Urstadt Biddle Properties by 259.7% in the first quarter. LSV Asset Management now owns 523,300 shares of the real estate investment trust’s stock worth $9,843,000 after buying an additional 377,825 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Urstadt Biddle Properties by 67.4% in the first quarter. JPMorgan Chase & Co. now owns 387,748 shares of the real estate investment trust’s stock worth $7,294,000 after buying an additional 156,089 shares during the last quarter. Grace & White Inc. NY raised its holdings in shares of Urstadt Biddle Properties by 64.8% in the second quarter. Grace & White Inc. NY now owns 317,327 shares of the real estate investment trust’s stock worth $5,141,000 after buying an additional 124,800 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Urstadt Biddle Properties by 3.1% in the first quarter. Vanguard Group Inc. now owns 4,182,596 shares of the real estate investment trust’s stock worth $78,674,000 after buying an additional 124,543 shares during the last quarter. Hedge funds and other institutional investors own 53.89% of the company’s stock.

Wall Street Analyst Weigh In

UBA has been the subject of a number of research analyst reports. TheStreet raised shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Tuesday. Piper Sandler reduced their target price on shares of Urstadt Biddle Properties from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Friday, October 7th. StockNews.com began coverage on shares of Urstadt Biddle Properties in a report on Wednesday, October 12th. They set a “buy” rating for the company. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Urstadt Biddle Properties from $22.00 to $19.00 and set a “hold” rating for the company in a report on Tuesday, September 13th. Finally, B. Riley reduced their target price on shares of Urstadt Biddle Properties from $20.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, September 14th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Urstadt Biddle Properties Stock Down 0.5 %

UBA opened at $18.96 on Friday. Urstadt Biddle Properties Inc. has a fifty-two week low of $15.07 and a fifty-two week high of $21.64. The company has a debt-to-equity ratio of 0.89, a quick ratio of 3.64 and a current ratio of 3.64. The company has a fifty day moving average of $17.55 and a two-hundred day moving average of $17.21. The stock has a market capitalization of $760.68 million, a price-to-earnings ratio of 29.17 and a beta of 1.10.

Urstadt Biddle Properties Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, September 30th were issued a $0.2375 dividend. This is a boost from Urstadt Biddle Properties’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Thursday, September 29th. This represents a $0.95 dividend on an annualized basis and a yield of 5.01%. Urstadt Biddle Properties’s payout ratio is presently 146.16%.

Urstadt Biddle Properties Company Profile

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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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Institutional Ownership by Quarter for Urstadt Biddle Properties (NYSE:UBA)

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