Analysts Expect Urstadt Biddle Properties Inc. (UBA) Will Post Quarterly Sales of $30.01 Million
Wall Street analysts forecast that Urstadt Biddle Properties Inc. (NYSE:UBA) will announce sales of $30.01 million for the current quarter, Zacks reports. Three analysts have issued estimates for Urstadt Biddle Properties’ earnings. The highest sales estimate is $30.07 million and the lowest is $29.93 million. Urstadt Biddle Properties reported sales of $31.90 million in the same quarter last year, which would suggest a negative year over year growth rate of 5.9%. The business is scheduled to announce its next quarterly earnings report on Thursday, December 21st.
On average, analysts expect that Urstadt Biddle Properties will report full-year sales of $30.01 million for the current fiscal year, with estimates ranging from $120.86 million to $121.01 million. For the next year, analysts forecast that the firm will report sales of $122.26 million per share, with estimates ranging from $120.05 million to $125.18 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Urstadt Biddle Properties.
Urstadt Biddle Properties (NYSE:UBA) last posted its quarterly earnings results on Friday, September 8th. The real estate investment trust reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.17. Urstadt Biddle Properties had a return on equity of 13.62% and a net margin of 44.45%. The company had revenue of $31.87 million during the quarter, compared to the consensus estimate of $29.30 million.
A number of brokerages have recently commented on UBA. BidaskClub upgraded Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday, August 11th. FBR & Co restated a “mkt perform” rating and issued a $20.00 price target on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. Zacks Investment Research upgraded Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a report on Wednesday, September 27th. Deutsche Bank AG restated a “hold” rating and issued a $23.00 price target (up from $22.00) on shares of Urstadt Biddle Properties in a report on Wednesday, September 20th. Finally, TheStreet upgraded Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a report on Monday, July 17th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $22.75.
In other Urstadt Biddle Properties news, COO Stephan A. Rapaglia sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $21.70, for a total value of $32,550.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John T. Hayes sold 4,900 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $22.20, for a total value of $108,780.00. The disclosure for this sale can be found here. Corporate insiders own 20.06% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its stake in Urstadt Biddle Properties by 0.6% in the second quarter. Arizona State Retirement System now owns 15,552 shares of the real estate investment trust’s stock valued at $308,000 after buying an additional 100 shares during the period. UBS Group AG raised its stake in Urstadt Biddle Properties by 1.4% in the first quarter. UBS Group AG now owns 12,623 shares of the real estate investment trust’s stock valued at $260,000 after buying an additional 176 shares during the period. Texas Permanent School Fund raised its stake in Urstadt Biddle Properties by 0.8% in the second quarter. Texas Permanent School Fund now owns 21,706 shares of the real estate investment trust’s stock valued at $430,000 after buying an additional 181 shares during the period. Naples Global Advisors LLC raised its stake in Urstadt Biddle Properties by 5.7% in the second quarter. Naples Global Advisors LLC now owns 11,175 shares of the real estate investment trust’s stock valued at $221,000 after buying an additional 600 shares during the period. Finally, Mason Street Advisors LLC raised its stake in Urstadt Biddle Properties by 10.3% in the first quarter. Mason Street Advisors LLC now owns 6,952 shares of the real estate investment trust’s stock valued at $143,000 after buying an additional 651 shares during the period. Hedge funds and other institutional investors own 59.32% of the company’s stock.
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Urstadt Biddle Properties (UBA) traded up 0.94% during midday trading on Wednesday, hitting $22.57. The stock had a trading volume of 96,505 shares. Urstadt Biddle Properties has a 52 week low of $18.32 and a 52 week high of $25.43. The firm has a market cap of $850.98 million, a P/E ratio of 21.54 and a beta of 0.53. The stock has a 50-day moving average of $21.59 and a 200-day moving average of $20.43.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 20th. Investors of record on Friday, October 6th will be issued a dividend of $0.265 per share. The ex-dividend date is Thursday, October 5th. This represents a $1.06 annualized dividend and a yield of 4.70%. Urstadt Biddle Properties’s payout ratio is presently 99.07%.
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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