Wall Street brokerages expect Urstadt Biddle Properties Inc (NYSE:UBA) to report earnings of $0.34 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Urstadt Biddle Properties’ earnings, with the lowest EPS estimate coming in at $0.33 and the highest estimate coming in at $0.35. Urstadt Biddle Properties posted earnings of $0.21 per share in the same quarter last year, which indicates a positive year over year growth rate of 61.9%. The company is scheduled to announce its next quarterly earnings report on Friday, December 21st.
According to Zacks, analysts expect that Urstadt Biddle Properties will report full year earnings of $1.47 per share for the current financial year, with EPS estimates ranging from $1.46 to $1.48. For the next financial year, analysts forecast that the firm will report earnings of $1.44 per share, with EPS estimates ranging from $1.44 to $1.45. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Urstadt Biddle Properties.
A number of brokerages have recently issued reports on UBA. ValuEngine upgraded shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a report on Wednesday, October 24th. Zacks Investment Research upgraded shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a report on Wednesday. TheStreet cut shares of Urstadt Biddle Properties from a “b-” rating to a “c+” rating in a report on Wednesday, October 3rd. Finally, DA Davidson cut shares of Urstadt Biddle Properties from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $24.00 to $23.00 in a report on Tuesday, September 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Several institutional investors and hedge funds have recently added to or reduced their stakes in UBA. BlackRock Inc. lifted its position in shares of Urstadt Biddle Properties by 7.2% during the second quarter. BlackRock Inc. now owns 4,734,317 shares of the real estate investment trust’s stock valued at $107,138,000 after purchasing an additional 319,942 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Urstadt Biddle Properties by 20.8% during the second quarter. Renaissance Technologies LLC now owns 844,400 shares of the real estate investment trust’s stock valued at $19,109,000 after purchasing an additional 145,300 shares in the last quarter. Millennium Management LLC lifted its position in shares of Urstadt Biddle Properties by 480.9% during the first quarter. Millennium Management LLC now owns 165,009 shares of the real estate investment trust’s stock valued at $3,185,000 after purchasing an additional 136,604 shares in the last quarter. Dupont Capital Management Corp lifted its position in shares of Urstadt Biddle Properties by 114.8% during the second quarter. Dupont Capital Management Corp now owns 64,541 shares of the real estate investment trust’s stock valued at $1,461,000 after purchasing an additional 34,498 shares in the last quarter. Finally, TD Asset Management Inc. bought a new position in shares of Urstadt Biddle Properties during the second quarter valued at about $690,000. 58.22% of the stock is currently owned by institutional investors.
Shares of NYSE UBA traded down $0.38 during mid-day trading on Friday, reaching $19.81. 58,152 shares of the company’s stock traded hands, compared to its average volume of 74,242. The stock has a market capitalization of $785.13 million, a P/E ratio of 17.23, a P/E/G ratio of 1.72 and a beta of 0.36. Urstadt Biddle Properties has a 1-year low of $17.20 and a 1-year high of $23.94. The company has a debt-to-equity ratio of 0.82, a current ratio of 8.30 and a quick ratio of 8.30.
The company also recently declared a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Friday, October 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, October 4th. Urstadt Biddle Properties’s payout ratio is currently 93.91%.
Urstadt Biddle Properties Company Profile
Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 84 properties containing approximately 5.1 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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