Wall Street analysts expect that Urstadt Biddle Properties Inc (NYSE:UBA) will post sales of $32.99 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Urstadt Biddle Properties’ earnings, with estimates ranging from $31.98 million to $34.41 million. Urstadt Biddle Properties reported sales of $33.00 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 0%. The business is expected to issue its next earnings results on Friday, March 8th.
According to Zacks, analysts expect that Urstadt Biddle Properties will report full year sales of $132.13 million for the current financial year, with estimates ranging from $129.03 million to $135.93 million. For the next financial year, analysts expect that the company will report sales of $133.24 million, with estimates ranging from $132.28 million to $134.20 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Urstadt Biddle Properties.
Get Urstadt Biddle Properties alerts:Separately, Zacks Investment Research raised shares of Urstadt Biddle Properties from a “sell” rating to a “hold” rating in a report on Saturday, February 23rd. Two research analysts have rated the stock with a sell rating and two have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $22.00.
Shares of Urstadt Biddle Properties stock traded down $0.08 during midday trading on Friday, hitting $20.59. 57,700 shares of the company traded hands, compared to its average volume of 95,474. The firm has a market capitalization of $821.13 million, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.93 and a beta of 0.57. The company has a current ratio of 18.35, a quick ratio of 18.35 and a debt-to-equity ratio of 0.82. Urstadt Biddle Properties has a 12 month low of $17.93 and a 12 month high of $23.16.
In other news, CEO Willing L. Biddle purchased 41,600 shares of the company’s stock in a transaction dated Wednesday, December 26th. The shares were purchased at an average price of $15.50 per share, for a total transaction of $644,800.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 20.78% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Urstadt Biddle Properties by 1.0% in the 4th quarter. BlackRock Inc. now owns 5,054,821 shares of the real estate investment trust’s stock worth $97,154,000 after purchasing an additional 48,262 shares during the period. Renaissance Technologies LLC lifted its position in shares of Urstadt Biddle Properties by 16.4% in the 3rd quarter. Renaissance Technologies LLC now owns 982,817 shares of the real estate investment trust’s stock worth $20,924,000 after purchasing an additional 138,417 shares during the period. Northern Trust Corp lifted its position in shares of Urstadt Biddle Properties by 0.4% in the 2nd quarter. Northern Trust Corp now owns 575,759 shares of the real estate investment trust’s stock worth $13,030,000 after purchasing an additional 2,531 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Urstadt Biddle Properties by 3.0% in the 3rd quarter. Bank of New York Mellon Corp now owns 475,011 shares of the real estate investment trust’s stock worth $10,113,000 after purchasing an additional 14,019 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Urstadt Biddle Properties by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 464,779 shares of the real estate investment trust’s stock worth $8,933,000 after purchasing an additional 9,294 shares during the period. Hedge funds and other institutional investors own 59.08% of the company’s stock.
About Urstadt Biddle Properties
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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