Mission Statement, Vision, & Core Values (2024) of Urstadt Biddle Properties Inc. (UBP)

An Overview of Urstadt Biddle Properties Inc. (UBP)

General Summary of Urstadt Biddle Properties Inc.

Urstadt Biddle Properties Inc. (UBP) is a real estate investment trust (REIT) that specializes in the ownership, operation, and development of retail properties, primarily shopping centers, in the northeastern United States. Founded in 1969, UBP has built a strong portfolio of well-located retail properties. As of 2024, the company manages a diverse range of properties, with a focus on grocery-anchored shopping centers.

As of 2024, UBP's total assets are approximately $1.6 billion, and it currently owns and manages more than 3.4 million square feet of commercial real estate. The company’s annual sales for the year 2024 have reached $172 million, bolstered by strong rental income and occupancy rates averaging around 95%.

Company's Financial Performance in the Latest Financial Reports

In the most recent financial reporting period, UBP has reported record-breaking revenue, with total revenue of $172 million for the fiscal year ending July 31, 2024. This represents an increase of 10% compared to $156 million in the previous fiscal year. This growth is mainly attributed to increased rental income from its core property portfolio, which has seen a 3% rise in lease rates across its shopping centers.

Key financial highlights from the latest report are detailed in the table below:

Additionally, UBP has expanded its presence in key markets, focusing on areas with high consumer demand. This strategy has driven significant growth, with revenue from the primary product of retail space rental accounting for 90% of total revenues in 2024.

Introduction to Urstadt Biddle Properties Inc. as a Leader in the Industry

Urstadt Biddle Properties Inc. is recognized as a leader in the real estate investment trust sector, particularly in retail property management. The company is known for its strategic acquisitions and diligent property management, leading to sustainable growth. UBP's commitment to quality and customer service differentiates it from competitors, making it a trusted name in the industry.

For those interested in exploring the factors behind UBP's success, further details can be found in the sections below, which elaborate on its mission statement, vision, and core values. Understanding these elements is crucial to grasping the full picture of UBP’s strategic positioning in the market.

Mission Statement of Urstadt Biddle Properties Inc. (UBP)

Company's Mission Statement

The mission statement of Urstadt Biddle Properties Inc. (UBP) serves as a framework for the company's strategic direction and operational priorities. It reflects the organization’s commitment to delivering high-quality real estate services while promoting value for its shareholders.

Core Component 1: Commitment to High-Quality Real Estate

UBP emphasizes its dedication to maintaining and enhancing the quality of its properties. As of 2023, UBP's portfolio consists of over 58 properties, primarily focused on grocery-anchored shopping centers, with a total gross leasable area exceeding 4 million square feet.

Its mission underlines the importance of superior property management that not only meets but exceeds the expectations of tenants and consumers. The company reported an occupancy rate of approximately 95% as of the latest quarter, showcasing its effective property management practices.

Core Component 2: Delivering Value to Shareholders

UBP is committed to maximizing shareholder value through effective capital management and increasing cash flows. In 2022, UBP declared a dividend of $0.25 per share, reflecting a dividend yield of about 5.1% based on a share price of $4.85.

The company’s total revenue in Fiscal Year 2022 was approximately $30 million, with a net income of $10 million, demonstrating its ability to generate sustainable profits and return value to its shareholders.

Core Component 3: Community Engagement and Sustainability

UBP recognizes the importance of community involvement and sustainable practices as a vital aspect of its mission. The company has implemented several sustainability initiatives, including energy-efficient retrofits in its properties, leading to a reduction in energy consumption by 15% in 2022.

UBP actively participates in local community events and supports various charitable initiatives, spending approximately $500,000 annually on community development projects. This engagement reflects UBP's commitment to being a responsible corporate citizen.

As illustrated, the consistent revenue growth and stable occupancy rates underscore UBP’s mission to provide high-quality real estate services while ensuring excellent returns for its shareholders and fostering community sustainability.

Vision Statement of Urstadt Biddle Properties Inc. (UBP)

Vision Statement Overview

Urstadt Biddle Properties Inc. (UBP) envisions becoming a leader in the retail real estate sector, focusing on community-oriented properties that enhance the shopping experience while ensuring sustainable growth.

Commitment to Sustainable Development

UBP's vision emphasizes sustainability as a core aspect of its operations. In 2023, UBP committed to reducing its carbon footprint by 25% by 2025 through various initiatives.

Community Engagement and Partnerships

UBP aims to foster strong community ties through partnerships with local businesses and organizations. UBP's properties are strategically placed in locations that serve diverse communities. In 2023, UBP engaged with over 150 local businesses to create collaborative events.

Innovative Real Estate Solutions

UBP's vision includes embracing technology to improve property management and tenant experience. In 2023, UBP invested $2 million in new property management software aimed at optimizing operations.

Market Expansion Strategies

UBP's vision includes a strategic expansion plan aiming to increase its footprint in key markets. The company plans to acquire $300 million worth of retail properties by 2025.

Core Values of Urstadt Biddle Properties Inc. (UBP)

Integrity

Integrity is paramount at Urstadt Biddle Properties Inc. (UBP), serving as the foundation for trust and transparency in all business dealings. UBP emphasizes ethical conduct, ensuring that every action aligns with its principles.

For instance, UBP maintains a robust Code of Ethics accessible to all employees, guiding interactions with clients, shareholders, and the community. In 2023, UBP reported a 98% compliance rate in its internal ethics training program, which educates over 350 employees annually.

Innovation

Innovation drives UBP's growth and adaption in a dynamic real estate market. The company continually seeks new opportunities, leveraging technology to enhance operational efficiency and customer service.

• In 2023, UBP invested $1.5 million in a new property management software designed to streamline tenant communication and maintenance requests.
• Through its participation in the Smart Cities Initiative, UBP plans to incorporate sustainability technologies, projected to reduce energy consumption by 15% across its portfolio by 2025.

Community Engagement

Community Engagement reflects UBP's commitment to improving the neighborhoods it serves. The company actively participates in local initiatives and supports charitable organizations.

In 2023, UBP contributed over $450,000 in donations and sponsorships to local charities, partnering with organizations such as the United Way and local food banks. UBP also organized volunteer events, with over 200 hours contributed by employees in community service initiatives.

Excellence

Excellence is the standard UBP sets in all aspects of its operations, from property management to customer service. The commitment to achieving high-quality results is evident through various industry recognitions.

In 2024, UBP received the National Award for Excellence in Property Management from the Commercial Real Estate Association, highlighting its superior tenant satisfaction ratings, which average 93% across managed properties.

Accountability

Accountability at UBP means taking responsibility for actions and outcomes, fostering a culture of ownership among employees. The organization establishes clear metrics and regularly evaluates performance against its goals.

In 2023, UBP implemented a new performance management system that tracks individual and departmental objectives, resulting in a 25% improvement in project completion times. This system enhances visibility and encourages accountability among over 300 employees.