Brokerages Anticipate Urstadt Biddle Properties Inc (UBA) Will Post Quarterly Sales of $31.56 Million
Wall Street brokerages expect that Urstadt Biddle Properties Inc (NYSE:UBA) will report $31.56 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Urstadt Biddle Properties’ earnings. The lowest sales estimate is $30.47 million and the highest is $32.65 million. Urstadt Biddle Properties reported sales of $29.07 million in the same quarter last year, which indicates a positive year over year growth rate of 8.6%. The business is expected to report its next earnings report on Friday, March 9th.
According to Zacks, analysts expect that Urstadt Biddle Properties will report full year sales of $31.56 million for the current year, with estimates ranging from $120.05 million to $130.95 million. For the next financial year, analysts forecast that the business will post sales of $128.19 million per share, with estimates ranging from $123.08 million to $133.29 million. Zacks’ sales averages are an average based on a survey of analysts that follow Urstadt Biddle Properties.
Several equities research analysts recently weighed in on UBA shares. Zacks Investment Research upgraded Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a report on Wednesday, September 27th. FBR & Co restated a “hold” rating and set a $20.00 target price on shares of Urstadt Biddle Properties in a report on Thursday, September 21st. Deutsche Bank restated a “hold” rating and set a $23.00 target price (up from $22.00) on shares of Urstadt Biddle Properties in a report on Wednesday, September 20th. Finally, B. Riley restated a “neutral” rating on shares of Urstadt Biddle Properties in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. Urstadt Biddle Properties currently has a consensus rating of “Hold” and an average price target of $22.33.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in Urstadt Biddle Properties in the 3rd quarter worth approximately $183,000. Janney Montgomery Scott LLC purchased a new stake in Urstadt Biddle Properties in the 3rd quarter worth approximately $202,000. Stevens Capital Management LP purchased a new stake in Urstadt Biddle Properties in the 3rd quarter worth approximately $207,000. Allianz Asset Management GmbH purchased a new stake in Urstadt Biddle Properties in the 3rd quarter worth approximately $255,000. Finally, Capital Fund Management S.A. bought a new position in shares of Urstadt Biddle Properties in the 2nd quarter worth approximately $248,000. Institutional investors and hedge funds own 60.09% of the company’s stock.
Shares of Urstadt Biddle Properties (NYSE UBA) traded down $0.51 during mid-day trading on Thursday, reaching $20.21. The company had a trading volume of 115,100 shares, compared to its average volume of 79,943. The stock has a market cap of $793.07, a PE ratio of 22.97, a PEG ratio of 2.05 and a beta of 0.54. Urstadt Biddle Properties has a 52 week low of $18.32 and a 52 week high of $23.94. The company has a debt-to-equity ratio of 0.76, a current ratio of 7.58 and a quick ratio of 7.58.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Shareholders of record on Friday, January 5th will be issued a $0.27 dividend. The ex-dividend date is Thursday, January 4th. This represents a $1.08 annualized dividend and a yield of 5.34%. This is a boost from Urstadt Biddle Properties’s previous quarterly dividend of $0.27. Urstadt Biddle Properties’s dividend payout ratio (DPR) is 122.73%.
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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