Urstadt Biddle Celebrates 50th Anniversary by Ringing NYSE Closing Bell

09/09/2019 | by

Urstadt Biddle Properties Inc. (NYSE: UBA and UBP) rang the closing bell on the New York Stock Exchange on Sept. 6, in celebration of the 50^th anniversary of the REIT’s founding.

The Greenwich, Connecticut-based shopping center REIT has a portfolio focused on the New York suburbs. President and CEO Willing Biddle attributed the company’s longevity to property type, region, deep market knowledge, capital structure, a dedicated management team, and “the ability to be there when others aren’t there to buy.”

The company has been listed on the NYSE since 1970.

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What's a REIT?

REITs, or real estate investment trusts, are companies that own or finance income-producing real estate across a range of property sectors. These real estate companies have to meet a number of requirements to qualify as REITs. Most REITs trade on major stock exchanges, and they offer a number of benefits to investors.

Why Invest in REITs

REITs historically have delivered competitive total returns, based on high, steady dividend income and long-term capital appreciation. Their comparatively low correlation with other assets also makes them an excellent portfolio diversifier that can help reduce overall portfolio risk and increase returns. These are the characteristics of real estate investment.

About Nareit

Nareit serves as the worldwide representative voice for REITs and real estate companies with an interest in U.S. real estate. Nareit’s members are REITs and other real estate companies throughout the world that own, operate, and finance income-producing real estate, as well as those firms and individuals who advise, study, and service those businesses.