Urstadt Biddle Properties Inc (UBA) Posts Earnings Results, Beats Estimates By $0.17 EPS
Urstadt Biddle Properties Inc (NYSE:UBA) posted its quarterly earnings results on Friday. The real estate investment trust reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.17, Bloomberg Earnings reports. Urstadt Biddle Properties had a return on equity of 24.11% and a net margin of 93.09%.
Urstadt Biddle Properties (UBA) traded up 0.10% during trading on Friday, reaching $20.92. The company’s stock had a trading volume of 97,531 shares. Urstadt Biddle Properties has a 12 month low of $18.32 and a 12 month high of $25.43. The stock’s 50-day moving average is $20.78 and its 200 day moving average is $20.30. The company has a market cap of $788.73 million, a P/E ratio of 20.08 and a beta of 0.53.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Shareholders of record on Friday, October 6th will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 5.07%. The ex-dividend date of this dividend is Thursday, October 5th. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 100.95%.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research note on Friday, June 16th. TheStreet downgraded Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a research note on Friday, May 12th. FBR & Co reaffirmed a “mkt perform” rating and set a $20.00 price objective on shares of Urstadt Biddle Properties in a research note on Tuesday, July 11th. ValuEngine downgraded Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, BidaskClub raised Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $23.67.
Urstadt Biddle Properties declared that its board has initiated a share buyback program on Friday, June 9th that permits the company to buyback 2,000,000 shares. This buyback authorization permits the real estate investment trust to reacquire shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its shares are undervalued.
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.
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