Urstadt Biddle Properties Inc.
UBP-PH
New York Stock Exchange22.79
USD
-0.26
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Urstadt Biddle Properties Inc.
UBP-PH
(New York Stock Exchange)
Recent
price
22.79
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Similar Companies
- Business
- Urstadt Biddle Properties Inc is a real estate investment trust (REIT) founded in 1969 and headquartered in Greenwich, Connecticut. The company specializes in acquiring, operating, and managing commercial real estate primarily focused on neighborhood and community shopping centers in affluent suburban markets of the northeastern United States. Its portfolio comprises approximately 77 properties with around 5.3 million square feet of gross leasable area, including retail spaces anchored by grocers, restaurants, service providers, and other best-in-class retailers. Urstadt Biddle’s main products and services include ownership and leasing of retail shopping centers, redevelopment and value-add projects on existing properties, and ancillary income from parking, signage rentals, and special events. The company operates primarily in the states of Connecticut, New York, and nearby regions, targeting a customer base of retail tenants and consumers in suburban trade areas with strong demographics. Urstadt Biddle is self-administered and manages properties aimed at delivering steady rental income and long-term capital appreciation for shareholders. It is noted for paying uninterrupted dividends for over 200 quarters, reflecting its financial stability and consistent cash flows. A significant recent development is Urstadt Biddle’s acquisition by Regency Centers Corporation, announced in May 2023 and completed in August 2023. The $1.4 billion all-stock transaction valued the company including its assumed debt and preferred stock, integrating Urstadt Biddle’s portfolio into Regency Centers’ national platform. This strategic merger expanded Regency’s portfolio to approximately 56 million square feet across 481 properties, enhancing its presence in suburban shopping center markets. The acquisition marked a major operational and ownership change, positioning Urstadt Biddle’s assets under Regency’s management and benefiting from Regency’s scale and market reach. This acquisition represents the latest major strategic shift for Urstadt Biddle Properties, transitioning from an independent REIT to a subsidiary of a larger publicly traded real estate company, Regency Centers. Prior to the merger, Urstadt Biddle had focused on disciplined investment, proactive management, and selective redevelopment initiatives to increase property values and rental income. As part of Regency Centers, the combined entity continues to target growth through high-quality retail properties anchored by grocery stores and other proven retailers in affluent suburban neighborhoods. In summary, Urstadt Biddle Properties Inc operates as a REIT concentrating on retail shopping centers in the northeastern U.S., offering property ownership, leasing, redevelopment, and ancillary services. Founded in 1969 and headquartered in Greenwich, it recently underwent a $1.4 billion acquisition by Regency Centers Corporation, which expanded its market footprint and integrated its portfolio into a large national platform.