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Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) has completed the sale of Newington Park Shopping Center in Newington, NH for $13,350,000. Owned since 1979, the property was transformed from a light industrial site to a mixed-use retail complex. However, the company sold it as it no longer met their investment criteria, lacking grocery anchorage and being outside key suburban areas. The proceeds will be reinvested in regional properties for potential value addition. The company has a portfolio of 79 properties totaling 5.1 million square feet and has paid dividends for 205 consecutive quarters.
Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) announced quarterly dividends of $0.23 for Class A Common Stock and $0.207 for Common Stock, payable on July 16, 2021, to stockholders of record by July 2, 2021. This marks the 206th consecutive quarterly dividend since the company's inception in 1969. Additionally, dividends for Series H Preferred Stock and Series K Preferred Stock were declared at $0.390625 and $0.3672, respectively, payable on July 30, 2021, to stockholders of record by July 16, 2021. The firm continues to support income for its investors.
Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) reported its financial results for Q2 2021, showing a net income of $4.6 million ($0.12 per diluted Class A share). Funds from Operations (FFO) were $11.7 million ($0.31 per diluted Class A share). 91.2% of base rent and charges for the April 2020-April 2021 period has been collected, while 92.4% for Q2 2021 has also been paid. The Board declared an increased dividend of $0.207 per Common share and $0.23 per Class A Common share, set for payment on July 16, 2021. Despite challenges from COVID-19, 99.6% of tenants are operational, and leasing activity is on the rise.
Urstadt Biddle Properties Inc. announced quarterly dividends for its Class A and Common Stocks, set at $0.14 and $0.125 per share, respectively. Shareholders of record as of April 1, 2021, will receive the dividends on April 16, 2021. This marks the company's 205th consecutive quarterly dividend since its inception in 1969. Additionally, dividends for Series H and K Preferred Stocks were declared, amounting to $0.390625 and $0.3672 per share, payable on April 30, 2021, to stockholders of record on April 16, 2021.
Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) reported Q1 2021 results with net income of $4.5 million ($0.12/share) and Funds From Operations (FFO) of $12.4 million ($0.33/share). The pandemic impacted earnings, reducing FFO by $2.1 million. Rental collections reached 90.3% for Q1 2021, a slight improvement from the previous quarter. Currently, 89.8% of properties are leased, with ongoing negotiations for additional tenants. The company maintains $37.1 million in cash, with no significant debt maturing until 2022. A reduced dividend of $0.14 per share was issued due to ongoing COVID-19 impacts.
Urstadt Biddle Properties Inc. (NYSE: UBA, UBP) reported fiscal year results for 2020 amidst the COVID-19 pandemic. The REIT operates 81 properties, with 99.1% tenants open based on Annualized Base Rent (ABR). However, it faced a net loss of $913,000 in Q4 2020, with 86% of base rent collected from April to October. The company provided $3.4 million in deferred rents and recorded a $5.7 million loss on an asset sale to Lidl. Despite challenges, it maintains a strong balance sheet with $40.8 million in cash. Dividends were declared at reduced rates to preserve cash.
The Board of Directors of Urstadt Biddle Properties has declared quarterly dividends for Class A Common Stock and Common Stock at $0.14 and $0.125 per share, respectively. These dividends will be payable on January 15, 2021, to stockholders of record on January 5, 2021. This marks the 204th consecutive quarterly dividend since the company's inception in 1969. Additionally, dividends for Series H and Series K Preferred Stock were declared at $0.390625 and $0.3672 per share, payable on January 29, 2021, to stockholders of record on January 15, 2021.
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