Analysts Anticipate Urstadt Biddle Properties Inc. (NYSE:UBA) Will Announce Quarterly Sales of $33.48 Million

Wall Street analysts expect that Urstadt Biddle Properties Inc. (NYSE:UBA) will announce $33.48 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Urstadt Biddle Properties’ earnings, with the lowest sales estimate coming in at $33.25 million and the highest estimate coming in at $33.70 million. Urstadt Biddle Properties posted sales of $31.28 million during the same quarter last year, which suggests a positive year-over-year growth rate of 7%. The firm is expected to report its next quarterly earnings results on Monday, June 14th.

On average, analysts expect that Urstadt Biddle Properties will report full year sales of $134.06 million for the current fiscal year, with estimates ranging from $130.86 million to $135.72 million. For the next fiscal year, analysts expect that the company will post sales of $137.92 million, with estimates ranging from $132.56 million to $143.29 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Urstadt Biddle Properties.

Urstadt Biddle Properties (NYSE:UBA) last posted its quarterly earnings results on Thursday, March 11th. The real estate investment trust reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.09. Urstadt Biddle Properties had a return on equity of 6.39% and a net margin of 17.50%.

Several research analysts have commented on UBA shares. Zacks Investment Research upgraded Urstadt Biddle Properties from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Tuesday, March 9th. DA Davidson raised their target price on Urstadt Biddle Properties from $16.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 16th. Piper Sandler upgraded Urstadt Biddle Properties from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $18.00 to $22.00 in a research note on Thursday, April 22nd. Finally, B. Riley raised their target price on Urstadt Biddle Properties from $21.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, March 16th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Urstadt Biddle Properties currently has a consensus rating of “Buy” and an average target price of $18.60.

NYSE UBA traded up $0.17 during trading hours on Friday, hitting $18.54. The company had a trading volume of 84,181 shares, compared to its average volume of 174,830. Urstadt Biddle Properties has a 52 week low of $8.22 and a 52 week high of $19.04. The firm has a 50 day simple moving average of $17.80 and a 200 day simple moving average of $15.19. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.85 and a current ratio of 2.85. The firm has a market capitalization of $747.20 million, a price-to-earnings ratio of 84.28 and a beta of 0.99.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 16th. Stockholders of record on Thursday, April 1st were given a dividend of $0.14 per share. The ex-dividend date of this dividend was Wednesday, March 31st. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.02%. Urstadt Biddle Properties’s dividend payout ratio (DPR) is presently 47.06%.

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Urstadt Biddle Properties by 3.6% during the 1st quarter. BlackRock Inc. now owns 4,941,413 shares of the real estate investment trust’s stock valued at $82,274,000 after buying an additional 173,976 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Urstadt Biddle Properties by 6.8% during the 1st quarter. Geode Capital Management LLC now owns 627,464 shares of the real estate investment trust’s stock valued at $10,447,000 after buying an additional 40,178 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Urstadt Biddle Properties by 5.5% during the 1st quarter. Bank of New York Mellon Corp now owns 418,411 shares of the real estate investment trust’s stock valued at $6,966,000 after buying an additional 21,653 shares in the last quarter. LPL Financial LLC purchased a new position in shares of Urstadt Biddle Properties during the 4th quarter valued at about $5,109,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Urstadt Biddle Properties by 56.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 321,728 shares of the real estate investment trust’s stock valued at $5,357,000 after buying an additional 115,474 shares in the last quarter. Hedge funds and other institutional investors own 53.55% of the company’s stock.

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 81 properties containing approximately 5.2 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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Earnings History and Estimates for Urstadt Biddle Properties (NYSE:UBA)

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