KBW Has Market Perform On Urstadt Biddle Properties Inc.

KBW has a Market Perform rating and a $20 price target on shares of Urstadt Biddle Properties Inc. UBA. In a note to clients, KBW writes, "Initiating coverage of small-cap niche strip shopping center REIT Urstadt Biddle Properties Inc. (UBA) with a Market Perform rating and a 12-month price target of $20.00. UBA owns 50 properties primarily concentrated in suburban New York City area, Southern Connecticut, and New Jersey. We view UBA's portfolio concentrated in desirable demographic markets for retail, its focused niche strategy in its region, and strong balance sheet favorably." Shares of UBA lost 22 cents yesterday to close at $18.94, a loss of 1.15%.