Wall Street analysts expect Urstadt Biddle Properties Inc. (NYSE:UBA) to announce earnings of $0.30 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Urstadt Biddle Properties’ earnings, with estimates ranging from $0.29 to $0.31. Urstadt Biddle Properties posted earnings per share of $0.32 during the same quarter last year, which would indicate a negative year-over-year growth rate of 6.3%. The business is expected to report its next earnings results on Thursday, September 14th.
On average, analysts expect that Urstadt Biddle Properties will report full year earnings of $1.19 per share for the current fiscal year, with EPS estimates ranging from $1.16 to $1.21. For the next financial year, analysts forecast that the firm will report earnings of $1.25 per share, with EPS estimates ranging from $1.23 to $1.31. Zacks’ EPS averages are an average based on a survey of research analysts that follow Urstadt Biddle Properties.
A number of brokerages have issued reports on UBA. Zacks Investment Research raised shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a research report on Friday, June 16th. TheStreet downgraded shares of Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a research report on Friday, May 12th. FBR & Co reissued a “mkt perform” rating and set a $20.00 price objective on shares of Urstadt Biddle Properties in a research report on Tuesday, July 11th. Finally, ValuEngine downgraded shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $23.67.
Several hedge funds have recently added to or reduced their stakes in UBA. Vanguard Group Inc. increased its stake in Urstadt Biddle Properties by 3.4% in the first quarter. Vanguard Group Inc. now owns 4,600,967 shares of the real estate investment trust’s stock worth $94,596,000 after buying an additional 149,237 shares in the last quarter. State Street Corp increased its stake in Urstadt Biddle Properties by 19.0% in the first quarter. State Street Corp now owns 866,273 shares of the real estate investment trust’s stock worth $17,808,000 after buying an additional 138,157 shares in the last quarter. Renaissance Technologies LLC increased its stake in Urstadt Biddle Properties by 23.7% in the first quarter. Renaissance Technologies LLC now owns 632,100 shares of the real estate investment trust’s stock worth $12,996,000 after buying an additional 121,300 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Urstadt Biddle Properties by 0.5% in the first quarter. Bank of New York Mellon Corp now owns 507,060 shares of the real estate investment trust’s stock worth $10,425,000 after buying an additional 2,282 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Urstadt Biddle Properties by 36.3% in the first quarter. American Century Companies Inc. now owns 389,377 shares of the real estate investment trust’s stock worth $8,006,000 after buying an additional 103,752 shares in the last quarter. 60.92% of the stock is currently owned by hedge funds and other institutional investors.
Urstadt Biddle Properties (NYSE:UBA) traded up 1.38% during midday trading on Thursday, reaching $21.23. 88,915 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $20.17 and a 200 day moving average price of $20.64. The company has a market cap of $631.17 million, a price-to-earnings ratio of 19.66 and a beta of 0.52. Urstadt Biddle Properties has a 12-month low of $18.32 and a 12-month high of $25.43.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.99%. The ex-dividend date was Wednesday, June 28th. Urstadt Biddle Properties’s dividend payout ratio is presently 100.95%.
Urstadt Biddle Properties announced that its board has authorized a share buyback program on Friday, June 9th that allows the company to repurchase 2,000,000 outstanding shares. This repurchase authorization allows the real estate investment trust to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors 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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