Urstadt Biddle Properties Inc. (“Company”) (NYSE:UBA and UBP) today announced that Stephan A. Rapaglia, Senior Vice President, Assistant Secretary and Real Estate Counsel, has been appointed Chief Operating Officer of the Company, effective January 1, 2014.
Stephan A. Rapaglia (Photo: Business Wire)
Mr. Rapaglia joined the Company in 2008 as Vice President and Real Estate Counsel and subsequently was elected Assistant Secretary in 2009 and Senior Vice President in 2012. Prior to joining the Company, Mr. Rapaglia practiced law in the private sector. Mr. Rapaglia is a graduate of Amherst College and Pace University School of Law. Commenting on Mr. Rapaglia’s appointment, Willing L. Biddle, President and CEO said, “The appointment of Stephan Rapaglia as Chief Operating Officer completes the realignment of executive duties at the Company that began with the Board’s decision in June to separate the roles of Chairman and CEO. After temporarily handling the responsibilities of both CEO and COO, I am delighted to welcome Stephan as Chief Operating Officer. Since joining the Company in 2008, he has demonstrated outstanding ability in handling a wide range of assignments and is exceptionally well qualified to carry out the responsibilities of COO.” Urstadt Biddle Properties Inc. is a self-administered equity real estate investment trust which owns or has equity interests in 63 properties containing approximately 4.7 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. It has paid 176 consecutive quarters of uninterrupted dividends to its shareholders since its inception and has raised total dividends to its shareholders for the last 20 consecutive years.Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20131217006526/en/
In this series, we look through the most recent Dividend Channel ''DividendRank'' report, and then we cherry pick only those companies that have experienced insider buying within the past six months. The officers and directors of a company tend to have a unique insider's view of the business, and presumably the only reason an insider would choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both.