U.S. markets closed
  • S&P 500

    3,841.47
    -11.60 (-0.30%)
     
  • Dow 30

    30,996.98
    -179.03 (-0.57%)
     
  • Nasdaq

    13,543.06
    +12.15 (+0.09%)
     
  • Russell 2000

    2,168.76
    +27.34 (+1.28%)
     
  • Crude Oil

    51.98
    -1.15 (-2.16%)
     
  • Gold

    1,855.50
    -10.40 (-0.56%)
     
  • Silver

    25.57
    -0.29 (-1.12%)
     
  • EUR/USD

    1.2174
    +0.0001 (+0.01%)
     
  • 10-Yr Bond

    1.0910
    -0.0180 (-1.62%)
     
  • GBP/USD

    1.3684
    -0.0046 (-0.34%)
     
  • USD/JPY

    103.7700
    +0.2650 (+0.26%)
     
  • BTC-USD

    32,948.06
    +617.84 (+1.91%)
     
  • CMC Crypto 200

    651.44
    +41.45 (+6.79%)
     
  • FTSE 100

    6,695.07
    -20.35 (-0.30%)
     
  • Nikkei 225

    28,631.45
    -125.41 (-0.44%)
     

Urstadt Biddle: Fiscal 4Q Earnings Snapshot

·1 min read

GREENWICH, Conn. (AP) _ Urstadt Biddle Properties Inc. (UBA) on Wednesday reported a key measure of profitability in its fiscal fourth quarter. The results exceeded Wall Street expectations.

The Greenwich, Connecticut-based real estate investment trust said it had funds from operations of $12.8 million, or 34 cents per share, in the period.

The average estimate of four analysts surveyed by Zacks Investment Research was for funds from operations of 24 cents per share.

Funds from operations is a closely watched measure in the REIT industry. It takes net income and adds back items such as depreciation and amortization.

The company said it had a loss of $913,000, or 2 cents per share.

The commercial real estate investment trust posted revenue of $32.3 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $29.5 million.

For the year, the company reported funds from operations of $45.2 million, or $1.19 per share. Revenue was reported as $126.7 million.

The company's shares have decreased 41% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $14.63, a decline of 38% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on UBA at https://www.zacks.com/ap/UBA