Brokerages Expect Urstadt Biddle Properties Inc (NYSE:UBA) Will Announce Quarterly Sales of $34.41 Million

Equities research analysts predict that Urstadt Biddle Properties Inc (NYSE:UBA) will post $34.41 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Urstadt Biddle Properties’ earnings, with the lowest sales estimate coming in at $33.61 million and the highest estimate coming in at $35.28 million. Urstadt Biddle Properties reported sales of $32.81 million in the same quarter last year, which indicates a positive year over year growth rate of 4.9%. The company is scheduled to issue its next quarterly earnings results on Friday, September 6th.

On average, analysts expect that Urstadt Biddle Properties will report full-year sales of $138.42 million for the current year, with estimates ranging from $136.23 million to $141.36 million. For the next financial year, analysts forecast that the business will report sales of $141.16 million, with estimates ranging from $137.60 million to $145.36 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Urstadt Biddle Properties.

A number of brokerages have commented on UBA. DA Davidson restated a “neutral” rating on shares of Urstadt Biddle Properties in a research note on Monday, July 29th. TheStreet upgraded shares of Urstadt Biddle Properties from a “c+” rating to a “b-” rating in a research note on Wednesday, May 22nd. Finally, Zacks Investment Research downgraded shares of Urstadt Biddle Properties from a “buy” rating to a “hold” rating in a research note on Saturday, August 3rd.

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Urstadt Biddle Properties by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 184,783 shares of the real estate investment trust’s stock valued at $3,881,000 after purchasing an additional 2,227 shares during the period. Bank of Montreal Can grew its position in shares of Urstadt Biddle Properties by 103.6% in the second quarter. Bank of Montreal Can now owns 4,893 shares of the real estate investment trust’s stock valued at $103,000 after purchasing an additional 2,490 shares during the period. Panagora Asset Management Inc. grew its position in shares of Urstadt Biddle Properties by 11.1% in the second quarter. Panagora Asset Management Inc. now owns 348,332 shares of the real estate investment trust’s stock valued at $7,315,000 after purchasing an additional 34,782 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Urstadt Biddle Properties in the second quarter valued at about $82,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Urstadt Biddle Properties by 33.1% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 6,302 shares of the real estate investment trust’s stock valued at $132,000 after purchasing an additional 1,567 shares during the period. Institutional investors and hedge funds own 58.56% of the company’s stock.

UBA stock traded up $0.01 during mid-day trading on Wednesday, reaching $21.20. The company had a trading volume of 76,137 shares, compared to its average volume of 82,125. The company has a debt-to-equity ratio of 0.87, a current ratio of 8.54 and a quick ratio of 8.54. The stock has a market cap of $831.10 million, a P/E ratio of 15.00, a PEG ratio of 1.83 and a beta of 0.47. The business has a 50 day moving average of $21.27. Urstadt Biddle Properties has a 12 month low of $18.50 and a 12 month high of $23.16.

The business also recently announced a quarterly dividend, which was paid on Friday, July 19th. Shareholders of record on Friday, July 5th were paid a $0.275 dividend. The ex-dividend date of this dividend was Wednesday, July 3rd. This represents a $1.10 dividend on an annualized basis and a yield of 5.19%. Urstadt Biddle Properties’s dividend payout ratio is currently 74.83%.

About Urstadt Biddle Properties

Urstadt Biddle Properties Inc is a self-administered equity real estate investment trust which owns or has equity interests in 85 properties containing approximately 5.3 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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