Urstadt Biddle Properties Inc. (NYSE:UBA) declared a quarterly dividend on Thursday, September 7th, Wall Street Journal reports. Stockholders of record on Friday, October 6th will be given a dividend of 0.265 per share by the real estate investment trust on Friday, October 20th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date of this dividend is Thursday, October 5th.

Urstadt Biddle Properties has raised its dividend payment by an average of 1.3% annually over the last three years and has increased its dividend every year for the last 17 years. Urstadt Biddle Properties has a payout ratio of 85.5% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Research analysts expect Urstadt Biddle Properties to earn $1.29 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 82.2%.

Urstadt Biddle Properties (UBA) opened at 21.98 on Wednesday. The company’s 50-day moving average is $21.18 and its 200 day moving average is $20.33. The stock has a market cap of $828.73 million, a PE ratio of 20.97 and a beta of 0.53. Urstadt Biddle Properties has a 52 week low of $18.32 and a 52 week high of $25.43.

Urstadt Biddle Properties (NYSE:UBA) last issued its quarterly earnings results on Friday, September 8th. The real estate investment trust reported $0.33 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $31.87 million during the quarter, compared to analysts’ expectations of $29.30 million. On average, analysts expect that Urstadt Biddle Properties will post $0.96 earnings per share for the current fiscal year.

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UBA has been the subject of several analyst reports. BidaskClub raised shares of Urstadt Biddle Properties from a “hold” rating to a “buy” rating in a report on Friday, August 11th. FBR & Co reaffirmed a “mkt perform” rating and set a $20.00 price target on shares of Urstadt Biddle Properties in a report on Tuesday, July 11th. Zacks Investment Research raised shares of 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 reiterated a “hold” rating and issued a $23.00 price target (up from $22.00) on shares of Urstadt Biddle Properties in a research report on Wednesday, September 20th. Finally, TheStreet upgraded shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a research report on Monday, July 17th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Urstadt Biddle Properties presently has an average rating of “Buy” and a consensus price target of $22.75.

Urstadt Biddle Properties declared that its Board of Directors has initiated a share buyback plan on Friday, June 9th that authorizes the company to buyback 2,000,000 shares. This buyback authorization authorizes the real estate investment trust to purchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

In other news, COO Stephan A. Rapaglia sold 1,500 shares of the business’s stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $21.70, for a total value of $32,550.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 20.06% of the stock is owned by company insiders.

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.

Dividend History for Urstadt Biddle Properties (NYSE:UBA)

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