Preferred Stock Channel
Urstadt Biddle Properties Inc | 5.875% Series K Cumulative Redeemable Preferred Stock (UBP.PRK)

Prospectus excerpt:  Urstadt Biddle Properties Inc. is offering 4,000,000 shares of 5.875% Series K Cumulative Redeemable Preferred Stock, par value $0.01 per share, which we refer to in this prospectus supplement as the Series K Preferred Stock. Holders of shares of the Series K Preferred Stock are entitled to receive, when and as authorized by our board of directors and declared by us, out of our funds legally available for the payment of dividends, preferential cumulative dividends payable in cash at the rate per annum of $1.4688 per share of the Series K Preferred Stock, which is equivalent to a rate of 5.875% per annum of the $25.00 per share liquidation preference. These dividends are cumulative from, and including, the date of original issue and will be payable in arrears for each quarterly period ending January 31, April 30, July 31 and October 31 on January 31, April 30, July 31 and October 31 of each year, respectively, or, if any such date is not a business day, no later than the next succeeding business day. The first dividend on the Series K Preferred Stock is payable on January 31, 2020, with respect to the period from, and including, the date of original issue of the Series K Preferred Stock to, but excluding, January 31, 2020, in the amount of $0.4896 per share. The Series K Preferred Stock has no stated maturity and will not be subject to any sinking fund or mandatory redemption and will remain outstanding indefinitely unless redeemed or otherwise repurchased by us or converted by the holders in connection with a Change of Control (as defined in this prospectus supplement). The Series K Preferred Stock is not redeemable by us prior to October 1, 2024, except under circumstances where it is necessary to preserve our status as a real estate investment trust, or REIT, for U.S. federal income tax purposes and except as described below upon the occurrence of a Change of Control. On and after October 1, 2024, we may, at our option, redeem any or all of the Series K Preferred Stock for cash at a redemption price of $25.00 per share, plus accrued and unpaid dividends, if any, to but not including the redemption date (subject to the exception described below).

Full Prospectus PDF », UBP Page »

Series:K
Alternate symbology:UBP-K, UBP-PK, UBPprK
Redeemable?:Yes
Call Date:10/1/2024
Perpetual?:Yes
Cumulative?:Yes
Shares Offered:4,000,000
Overallotment:600,000
Liquidation Preference:$25
Recent Market Price:$25.48
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$0.48 (1.92%)
Annualized Dividend:1.4688
Recent Ex-Date:1/13/2022
Current Yield:5.76%
Original Coupon:5.88%
Pay Period:Quarterly
Pay Dates:31-Jan, 30-Apr, 31-Jul, 31-Oct
CDx3 Compliance Rating: Learn UBP.PRK's Rating
Urstadt Biddle Properties is a real estate investment trust engaged in the acquisition, ownership and management of commercial real estate. Co.'s business is the ownership of real estate investments, which consist principally of investments in properties, with primary focus on neighborhood and community shopping centers in the metropolitan New York tri-state area outside of the City of New York. In addition to its business of owning and managing real estate, Co. is involved in the beer, wine and spirits retail business, through its subsidiaries. Each subsidiary corporation owns and operates a beer, wine and spirits retail store at one of Co.'s shopping centers.

Preferreds: UBP.PRD, UBP.PRC, UBP.PRF, UBP.PRG, UBP.PRH, UBP.PRK


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Name:  Urstadt Biddle Properties Inc
Website:  www.ubproperties.com
Sector:  REITs
Number of ETFs Holding UBP:  5 (see which ones)
Total Market Value Held by ETFs:  $3,724,526
Total Market Capitalization:  $631,000,000
% of Market Cap. Held by ETFs:  0.59%

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