Renaissance Technologies LLC lifted its holdings in shares of Urstadt Biddle Properties Inc (NYSE:UBA) by 20.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 844,400 shares of the real estate investment trust’s stock after buying an additional 145,300 shares during the quarter. Renaissance Technologies LLC owned about 2.13% of Urstadt Biddle Properties worth $19,109,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of UBA. BlackRock Inc. grew its position in shares of Urstadt Biddle Properties by 7.2% during the 2nd quarter. BlackRock Inc. now owns 4,734,317 shares of the real estate investment trust’s stock worth $107,138,000 after buying an additional 319,942 shares during the period. Millennium Management LLC grew its holdings in Urstadt Biddle Properties by 480.9% during the first quarter. Millennium Management LLC now owns 165,009 shares of the real estate investment trust’s stock valued at $3,185,000 after purchasing an additional 136,604 shares during the period. Dupont Capital Management Corp grew its holdings in Urstadt Biddle Properties by 114.8% during the second quarter. Dupont Capital Management Corp now owns 64,541 shares of the real estate investment trust’s stock valued at $1,461,000 after purchasing an additional 34,498 shares during the period. TD Asset Management Inc. acquired a new position in Urstadt Biddle Properties during the second quarter valued at approximately $690,000. Finally, Northern Trust Corp grew its holdings in Urstadt Biddle Properties by 5.2% during the first quarter. Northern Trust Corp now owns 573,228 shares of the real estate investment trust’s stock valued at $11,062,000 after purchasing an additional 28,219 shares during the period. Institutional investors own 58.24% of the company’s stock.
Shares of NYSE UBA opened at $20.76 on Wednesday. The company has a market cap of $829.52 million, a P/E ratio of 18.05, a PEG ratio of 1.78 and a beta of 0.29. The company has a quick ratio of 8.30, a current ratio of 8.30 and a debt-to-equity ratio of 0.82. Urstadt Biddle Properties Inc has a 52-week low of $17.20 and a 52-week high of $23.94.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 19th. Investors of record on Friday, October 5th will be issued a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.20%. The ex-dividend date of this dividend is Thursday, October 4th. Urstadt Biddle Properties’s dividend payout ratio is currently 93.91%.
In related news, VP John T. Hayes sold 3,834 shares of the business’s stock in a transaction that occurred on Thursday, July 26th. The shares were sold at an average price of $22.61, for a total transaction of $86,686.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 20.39% of the stock is currently owned by insiders.
A number of brokerages recently issued reports on UBA. Zacks Investment Research cut shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. DA Davidson boosted their price objective on shares of Urstadt Biddle Properties to $24.00 and gave the company a “buy” rating in a report on Friday, June 15th. Finally, ValuEngine cut shares of Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. One equities research analyst has rated the stock with a sell rating and three have given a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $22.33.
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.
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