Urstadt Biddle Properties Inc. (NYSE:UBP – Get Rating) announced a quarterly dividend on Thursday, September 8th, Wall Street Journal reports. Investors of record on Friday, September 30th will be given a dividend of 0.2145 per share by the real estate investment trust on Friday, October 14th. This represents a $0.86 annualized dividend and a dividend yield of 5.52%. The ex-dividend date is Thursday, September 29th. This is a boost from Urstadt Biddle Properties's previous quarterly dividend of $0.21.
Urstadt Biddle Properties has decreased its dividend by an average of 7.9% annually over the last three years and has increased its dividend every year for the last 1 years. Urstadt Biddle Properties has a payout ratio of 84.3% indicating that its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall.
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UBP stock opened at $15.54 on Friday. The company has a current ratio of 6.45, a quick ratio of 6.45 and a debt-to-equity ratio of 0.87. The firm has a market cap of $635.45 million, a P/E ratio of 16.19 and a beta of 0.92. Urstadt Biddle Properties has a 12-month low of $14.94 and a 12-month high of $19.97. The stock's 50 day simple moving average is $16.91 and its 200 day simple moving average is $16.83.
Institutional Investors Weigh In On Urstadt Biddle Properties
Several institutional investors and hedge funds have recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of Urstadt Biddle Properties by 400.0% during the 1st quarter. First Manhattan Co. now owns 5,000 shares of the real estate investment trust's stock valued at $86,000 after acquiring an additional 4,000 shares in the last quarter. Vanguard Group Inc. grew its stake in Urstadt Biddle Properties by 19.2% during the 1st quarter. Vanguard Group Inc. now owns 264,176 shares of the real estate investment trust's stock worth $4,586,000 after buying an additional 42,597 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Urstadt Biddle Properties by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 60,975 shares of the real estate investment trust's stock worth $1,059,000 after buying an additional 772 shares during the last quarter. 1.87% of the stock is owned by institutional investors and hedge funds.About Urstadt Biddle Properties
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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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