Investment Thesis
Urstadt Biddle Properties (UBA) owns a portfolio of retail properties in the northeast U.S. with a concentration in the metropolitan New York tri-state area outside of the City of New York. The company has a quality portfolio of properties located in markets with high average household incomes. In addition, its portfolio of properties are generally more resilient to the rise of e-commerce. UBA also has a strong balance sheet. The company currently pays a 5.2%-yielding dividend, and we think any pullback will create a good buying opportunity.
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