Urstadt Biddle Properties Inc (NYSE:UBP) Sees Large Increase in Short Interest

Urstadt Biddle Properties Inc (NYSE:UBP) was the target of a large increase in short interest in July. As of July 15th, there was short interest totalling 22,000 shares, an increase of 13.4% from the June 30th total of 19,400 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily trading volume, of 5,300 shares, the days-to-cover ratio is presently 4.2 days.

A hedge fund recently raised its stake in Urstadt Biddle Properties stock. Renaissance Technologies LLC increased its position in shares of Urstadt Biddle Properties Inc (NYSE:UBP) by 7.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,300 shares of the real estate investment trust’s stock after purchasing an additional 5,100 shares during the period. Renaissance Technologies LLC owned about 0.19% of Urstadt Biddle Properties worth $1,536,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 2.15% of the company’s stock.

UBP opened at $8.51 on Friday. The business has a 50 day moving average price of $9.88 and a 200 day moving average price of $12.95. Urstadt Biddle Properties has a twelve month low of $8.30 and a twelve month high of $19.87. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.64 and a current ratio of 2.64. The firm has a market cap of $340.95 million, a P/E ratio of 18.11 and a beta of 0.71.

Urstadt Biddle Properties (NYSE:UBP) last issued its quarterly earnings results on Monday, June 8th. The real estate investment trust reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.07). Urstadt Biddle Properties had a return on equity of 9.65% and a net margin of 25.43%. The business had revenue of $31.28 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, July 17th. Stockholders of record on Friday, July 3rd were issued a dividend of $0.063 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.25 dividend on an annualized basis and a dividend yield of 2.96%.

Separately, ValuEngine upgraded Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd.

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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