This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Urstadt Biddle Properties Inc. Reports Operating Results For The Third Quarter And First Nine Months Of Fiscal 2010

Urstadt Biddle Properties Inc. (NYSE: UBA and UBP), a real estate investment trust, today announced its third quarter and nine months financial results for the period ended July 31, 2010.

Diluted Funds from Operations (FFO) for the quarter ended July 31, 2010 was $8,496,000 or $0.34 per Class A Common share and $0.31 per Common share, compared to $7,442,000 or $0.30 per Class A Common share and $0.27 per Common share in last year’s third quarter. For the first nine months of fiscal 2010, diluted FFO amounted to $21,974,000 or $0.88 per Class A Common share and $0.80 per Common share compared to $23,150,000 or $0.94 per Class A Common share and $0.85 per Common share in the same period of fiscal 2009.

Net income applicable to Class A Common and Common stockholders was $4,519,000 or $0.18 per diluted Class A Common share and $0.16 per diluted Common share in the third quarter of fiscal 2010 compared to $3,779,000 or $0.15 per diluted Class A Common share and $0.14 per diluted Common share in the same quarter last year. Net income applicable to Class A Common and Common stockholders for the first nine months of fiscal 2010 was $10,545,000 or $0.42 per diluted Class A Common share and $0.38 per diluted Common share compared to $11,492,000 or $0.47 per diluted Class A Common share and $0.42 per diluted Common share for the same period last year.

Net income for the nine month period ended July 31, 2010 includes a loss on property held for sale in the amount of $300,000. In addition, net income and FFO for the nine month and three month periods ended July 31, 2010 includes a charge of $249,000 and $93,000, respectively, related to property acquisition costs incurred in fiscal 2010. Previous to fiscal 2010 these costs were not expensed under generally accepted accounting principles. FFO and net income for the nine month and three month periods ended July 31, 2010 also includes $586,000 in lease termination income related to a settlement with Bed Bath and Beyond, which vacated space at the Company’s Staples Plaza property ($516,000) and the settlement of a lease guarantee obligation with another tenant that vacated the Company’s Rockledge property ($70,000) in a prior period, which space has been re-leased.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
UBP $17.26 0.00%
UBA $20.49 0.00%
AAPL $132.54 0.00%
FB $80.54 0.00%
GOOG $540.11 0.00%

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs