$33.99 Million in Sales Expected for Urstadt Biddle Properties Inc (NYSE:UBA) This Quarter

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Brokerages predict that Urstadt Biddle Properties Inc (NYSE:UBA) will post $33.99 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Urstadt Biddle Properties’ earnings, with the lowest sales estimate coming in at $33.54 million and the highest estimate coming in at $34.55 million. Urstadt Biddle Properties posted sales of $32.54 million in the same quarter last year, which suggests a positive year-over-year growth rate of 4.5%. The firm is expected to report its next earnings results on Friday, December 13th.

According to Zacks, analysts expect that Urstadt Biddle Properties will report full year sales of $136.97 million for the current financial year, with estimates ranging from $136.23 million to $137.85 million. For the next year, analysts anticipate that the company will report sales of $139.39 million, with estimates ranging from $137.60 million to $142.34 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Urstadt Biddle Properties.

A number of research analysts have recently issued reports on UBA shares. B. Riley reiterated a “neutral” rating on shares of Urstadt Biddle Properties in a research note on Thursday, October 3rd. DA Davidson reiterated a “neutral” rating on shares of Urstadt Biddle Properties in a research note on Monday, July 29th. Finally, Zacks Investment Research lowered shares of Urstadt Biddle Properties from a “hold” rating to a “sell” rating in a research note on Friday, September 13th.

Shares of Urstadt Biddle Properties stock traded down $0.18 on Thursday, reaching $23.83. 45,748 shares of the stock were exchanged, compared to its average volume of 93,605. Urstadt Biddle Properties has a 1-year low of $18.50 and a 1-year high of $24.76. The company has a current ratio of 5.22, a quick ratio of 5.22 and a debt-to-equity ratio of 0.88. The business has a fifty day moving average price of $23.81 and a two-hundred day moving average price of $22.25. The firm has a market capitalization of $960.78 million, a PE ratio of 16.21, a PEG ratio of 2.05 and a beta of 0.46.

The business also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Friday, October 4th were given a dividend of $0.275 per share. The ex-dividend date was Thursday, October 3rd. This represents a $1.10 annualized dividend and a yield of 4.62%. Urstadt Biddle Properties’s payout ratio is currently 74.83%.

In other Urstadt Biddle Properties news, CFO John T. Hayes sold 5,252 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $23.49, for a total transaction of $123,369.48. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Stephan A. Rapaglia sold 1,500 shares of the company’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $23.78, for a total transaction of $35,670.00. The disclosure for this sale can be found here. Corporate insiders own 20.78% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in UBA. Victory Capital Management Inc. grew its position in shares of Urstadt Biddle Properties by 754.3% in the second quarter. Victory Capital Management Inc. now owns 767,300 shares of the real estate investment trust’s stock valued at $16,113,000 after purchasing an additional 677,484 shares during the last quarter. BlackRock Inc. raised its stake in Urstadt Biddle Properties by 1.3% during the second quarter. BlackRock Inc. now owns 5,103,461 shares of the real estate investment trust’s stock worth $107,171,000 after purchasing an additional 66,378 shares during the period. Asset Management One Co. Ltd. raised its stake in Urstadt Biddle Properties by 103.8% during the second quarter. Asset Management One Co. Ltd. now owns 120,113 shares of the real estate investment trust’s stock worth $2,522,000 after purchasing an additional 61,177 shares during the period. Renaissance Technologies LLC raised its stake in Urstadt Biddle Properties by 4.6% during the second quarter. Renaissance Technologies LLC now owns 1,177,717 shares of the real estate investment trust’s stock worth $24,732,000 after purchasing an additional 52,300 shares during the period. Finally, Northern Trust Corp raised its stake in Urstadt Biddle Properties by 9.8% during the second quarter. Northern Trust Corp now owns 540,493 shares of the real estate investment trust’s stock worth $11,350,000 after purchasing an additional 48,305 shares during the period. Institutional investors and hedge funds own 59.21% of the company’s stock.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 million square feet of space. Listed on the New York Stock Exchange since 1970, it provides investors with a means of participating in ownership of income-producing properties.

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