Urstadt Biddle Properties Inc. (NYSE:UBA) declared a quarterly dividend on Thursday, September 7th, Wall Street Journal reports. Stockholders of record on Friday, October 6th will be paid a dividend of 0.265 per share by the real estate investment trust on Friday, October 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Thursday, October 5th.

Urstadt Biddle Properties has increased its dividend by an average of 1.3% per year over the last three years and has raised its dividend annually for the last 17 consecutive years. Urstadt Biddle Properties has a dividend payout ratio of 89.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Urstadt Biddle Properties to earn $0.61 per share next year, which means the company may not be able to cover its $1.06 annual dividend with an expected future payout ratio of 173.8%.

Shares of Urstadt Biddle Properties (NYSE:UBA) traded up 0.38% during trading on Thursday, hitting $20.90. 37,001 shares of the stock were exchanged. The stock has a market cap of $787.97 million, a price-to-earnings ratio of 20.06 and a beta of 0.53. The stock’s 50 day moving average is $20.77 and its 200-day moving average is $20.30. Urstadt Biddle Properties has a 12-month low of $18.32 and a 12-month high of $25.43.

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Urstadt Biddle Properties announced that its board has initiated a share repurchase program on Friday, June 9th that allows the company to buyback 2,000,000 shares. This buyback authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Several equities analysts have recently weighed in on UBA shares. TheStreet cut shares of Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a research note on Friday, May 12th. Zacks Investment Research raised shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. ValuEngine cut shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. FBR & Co reaffirmed a “mkt perform” rating and set a $20.00 price target on shares of Urstadt Biddle Properties in a research note on Tuesday, July 11th. Finally, BidaskClub raised shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Urstadt Biddle Properties presently has an average rating of “Buy” and a consensus price target of $23.67.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a real estate investment trust, which is engaged in the acquisition, ownership and management of commercial real estate. The Company owns Ridgeway Shopping Center (Ridgeway) property, which is located in Stamford, Connecticut. Its segments include Ridgeway and All Other Operating Segments.

Dividend History for Urstadt Biddle Properties (NYSE:UBA)

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