Keefe, Bruyette & Woods Starts Urstadt Biddle Properties (UBA) at Market Perform; Local Sharpshooter Shopping Center REIT

Keefe, Bruyette & Woods initiates coverage on Urstadt Biddle Properties (NYSE: UBA) with a Market Perform. PT $20.

KBW analyst said, "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."

INDUSTRY OPINION: A stabilizing economy and lack of new development have eased negative trends in the retail industry. Though challenges remain, there is reason for optimism.

For more ratings news on Urstadt Biddle Properties click here and for the rating history of Urstadt Biddle Properties click here.

Shares of Urstadt Biddle Properties closed at $18.94 yesterday.

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