Urstadt Biddle Properties Inc. (UBA) Expected to Announce Quarterly Sales of $30.01 Million
Wall Street analysts predict that Urstadt Biddle Properties Inc. (NYSE:UBA) will post sales of $30.01 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Urstadt Biddle Properties’ earnings, with the lowest sales estimate coming in at $29.93 million and the highest estimate coming in at $30.07 million. Urstadt Biddle Properties reported sales of $31.90 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.9%. The firm is scheduled to report its next earnings results on Thursday, December 21st.
According to Zacks, analysts expect that Urstadt Biddle Properties will report full-year sales of $30.01 million for the current financial year, with estimates ranging from $120.86 million to $121.01 million. For the next year, analysts expect that the firm will post sales of $122.26 million per share, with estimates ranging from $120.05 million to $125.18 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Urstadt Biddle Properties.
Urstadt Biddle Properties (NYSE:UBA) last announced its quarterly earnings data on Friday, September 8th. The real estate investment trust reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.17. The firm had revenue of $31.87 million during the quarter, compared to the consensus estimate of $29.30 million. Urstadt Biddle Properties had a net margin of 44.45% and a return on equity of 13.62%.
Several research analysts have commented on UBA shares. TheStreet upgraded shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. Zacks Investment Research cut shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. FBR & Co reaffirmed a “mkt perform” rating and issued a $20.00 price target on shares of Urstadt Biddle Properties in a research note on Tuesday, July 11th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $23.00 price target (up from $22.00) on shares of Urstadt Biddle Properties in a research note on Wednesday, September 20th. Finally, BidaskClub raised shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $22.75.
Shares of Urstadt Biddle Properties (UBA) traded up 1.27% during midday trading on Wednesday, reaching $22.30. 30,237 shares of the company were exchanged. Urstadt Biddle Properties has a 52-week low of $18.32 and a 52-week high of $25.43. The company’s 50-day moving average price is $21.40 and its 200 day moving average price is $20.39. The stock has a market capitalization of $663.02 million, a price-to-earnings ratio of 20.46 and a beta of 0.53.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date is Thursday, October 5th. Urstadt Biddle Properties’s dividend payout ratio is currently 99.07%.
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In other news, VP John T. Hayes sold 4,900 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $22.20, for a total value of $108,780.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Stephan A. Rapaglia sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $21.70, for a total transaction of $32,550.00. The disclosure for this sale can be found here. Corporate insiders own 20.06% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. State of Alaska Department of Revenue lifted its stake in Urstadt Biddle Properties by 77.5% during the second quarter. State of Alaska Department of Revenue now owns 5,823 shares of the real estate investment trust’s stock valued at $115,000 after purchasing an additional 2,543 shares during the last quarter. Mason Street Advisors LLC lifted its stake in Urstadt Biddle Properties by 10.3% during the first quarter. Mason Street Advisors LLC now owns 6,952 shares of the real estate investment trust’s stock valued at $143,000 after purchasing an additional 651 shares during the last quarter. Credit Agricole S A lifted its stake in Urstadt Biddle Properties by 54.3% during the first quarter. Credit Agricole S A now owns 8,664 shares of the real estate investment trust’s stock valued at $178,000 after purchasing an additional 3,048 shares during the last quarter. Tudor Investment Corp ET AL acquired a new stake in Urstadt Biddle Properties during the first quarter valued at approximately $228,000. Finally, Naples Global Advisors LLC lifted its stake in Urstadt Biddle Properties by 5.7% during the second quarter. Naples Global Advisors LLC now owns 11,175 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 600 shares during the last quarter. 59.32% of the stock is owned by institutional investors and hedge funds.
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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