Urstadt Biddle Properties Inc (UBA) Expected to Post Quarterly Sales of $31.56 Million
Analysts expect Urstadt Biddle Properties Inc (NYSE:UBA) to post $31.56 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Urstadt Biddle Properties’ earnings, with the lowest sales estimate coming in at $30.47 million and the highest estimate coming in at $32.65 million. Urstadt Biddle Properties posted sales of $29.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The company is expected to announce its next quarterly earnings results on Friday, March 9th.
On average, analysts expect that Urstadt Biddle Properties will report full year sales of $31.56 million for the current financial year, with estimates ranging from $120.05 million to $130.95 million. For the next year, analysts anticipate that the firm will post sales of $128.19 million per share, with estimates ranging from $123.08 million to $133.29 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Urstadt Biddle Properties.
Several research firms have recently weighed in on UBA. Zacks Investment Research lowered Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a research note on Friday. FBR & Co reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Urstadt Biddle Properties in a research note on Thursday, September 21st. Deutsche Bank reaffirmed a “hold” rating and issued a $23.00 price objective (up from $22.00) on shares of Urstadt Biddle Properties in a research note on Wednesday, September 20th. Finally, B. Riley reaffirmed a “neutral” rating on shares of Urstadt Biddle Properties in a research note on Wednesday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $22.33.
Urstadt Biddle Properties (NYSE UBA) remained flat at $$21.09 during midday trading on Monday. 97,000 shares of the stock traded hands, compared to its average volume of 117,511. The firm has a market capitalization of $830.82, a price-to-earnings ratio of 23.43, a price-to-earnings-growth ratio of 2.05 and a beta of 0.53. Urstadt Biddle Properties has a 12-month low of $18.32 and a 12-month high of $24.52. The company has a current ratio of 7.58, a quick ratio of 7.58 and a debt-to-equity ratio of 0.76.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Friday, January 5th will be paid a $0.27 dividend. This is a positive change from Urstadt Biddle Properties’s previous quarterly dividend of $0.27. This represents a $1.08 annualized dividend and a dividend yield of 5.12%. The ex-dividend date of this dividend is Thursday, January 4th. Urstadt Biddle Properties’s payout ratio is currently 117.78%.
In other news, VP John T. Hayes sold 4,900 shares of Urstadt Biddle Properties stock in a transaction dated Thursday, October 5th. The stock was sold at an average price of $22.20, for a total value of $108,780.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 20.06% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in Urstadt Biddle Properties during the 3rd quarter worth approximately $183,000. Janney Montgomery Scott LLC acquired a new position in Urstadt Biddle Properties during the 3rd quarter worth approximately $202,000. Stevens Capital Management LP acquired a new position in Urstadt Biddle Properties during the 3rd quarter worth approximately $207,000. Capital Fund Management S.A. acquired a new position in Urstadt Biddle Properties during the 2nd quarter worth approximately $248,000. Finally, M&T Bank Corp lifted its position in Urstadt Biddle Properties by 7.0% during the 2nd quarter. M&T Bank Corp now owns 12,678 shares of the real estate investment trust’s stock worth $250,000 after acquiring an additional 833 shares in the last quarter. 60.09% of the stock is currently owned by hedge funds and other institutional investors.
Urstadt Biddle Properties Company Profile
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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