Urstadt Biddle Properties Inc. (UBA) to Post FY2017 Earnings of $1.25 Per Share, FBR & Co Forecasts
Urstadt Biddle Properties Inc. (NYSE:UBA) – FBR & Co increased their FY2017 earnings per share estimates for Urstadt Biddle Properties in a research note issued to investors on Thursday. FBR & Co analyst C. Kucera now anticipates that the real estate investment trust will post earnings per share of $1.25 for the year, up from their prior forecast of $1.18. FBR & Co has a “Hold” rating and a $20.00 price target on the stock. FBR & Co also issued estimates for Urstadt Biddle Properties’ Q4 2017 earnings at $0.29 EPS, Q1 2018 earnings at $0.32 EPS, Q2 2018 earnings at $0.32 EPS, Q3 2018 earnings at $0.33 EPS, Q4 2018 earnings at $0.33 EPS and FY2018 earnings at $1.30 EPS.
A number of other research firms also recently weighed in on UBA. Deutsche Bank AG restated a “hold” rating and issued a $23.00 target price (up from $22.00) on shares of Urstadt Biddle Properties in a research report on Wednesday. Zacks Investment Research lowered Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Friday, September 15th. BidaskClub upgraded Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. TheStreet upgraded Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. Finally, ValuEngine downgraded Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $22.50.
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Urstadt Biddle Properties (NYSE UBA) opened at 21.52 on Friday. The stock has a market capitalization of $811.39 million, a P/E ratio of 20.53 and a beta of 0.53. The company has a 50-day moving average price of $20.96 and a 200 day moving average price of $20.25. Urstadt Biddle Properties has a 1-year low of $18.32 and a 1-year high of $25.43.
Urstadt Biddle Properties (NYSE:UBA) last announced its quarterly earnings results on Friday, September 8th. The real estate investment trust reported $0.33 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.17. The business had revenue of $31.87 million for the quarter, compared to analyst estimates of $29.30 million. Urstadt Biddle Properties had a return on equity of 13.62% and a net margin of 44.45%.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 20th. Stockholders of record on Friday, October 6th will be given a dividend of $0.265 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.06 annualized dividend and a dividend yield of 4.93%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is 99.07%.
Urstadt Biddle Properties declared that its board has initiated a stock buyback plan on Friday, June 9th that authorizes the company to repurchase 2,000,000 outstanding shares. This repurchase authorization authorizes the real estate investment trust to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
In other news, COO Stephan A. Rapaglia sold 1,500 shares of Urstadt Biddle Properties stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $21.70, for a total value of $32,550.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 20.06% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of UBA. Renaissance Technologies LLC increased its holdings in shares of Urstadt Biddle Properties by 33.3% in the second quarter. Renaissance Technologies LLC now owns 842,700 shares of the real estate investment trust’s stock valued at $16,685,000 after buying an additional 210,600 shares in the last quarter. Heartland Advisors Inc. bought a new position in shares of Urstadt Biddle Properties in the second quarter valued at $2,970,000. Vanguard Group Inc. increased its holdings in shares of 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 valued at $94,596,000 after buying an additional 149,237 shares in the last quarter. State Street Corp increased its holdings in shares of 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 valued at $17,808,000 after buying an additional 138,157 shares in the last quarter. Finally, First Manhattan Co. increased its holdings in shares of Urstadt Biddle Properties by 1,942.7% in the second quarter. First Manhattan Co. now owns 91,921 shares of the real estate investment trust’s stock valued at $1,820,000 after buying an additional 87,421 shares in the last quarter. 59.32% of the stock is currently owned by 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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