Urstadt Biddle Reports FFO Increase for Fiscal Year 2000

GREENWICH, CT-The fiscal report from Urstadt Biddle Properties Inc. was a mixed bag–a slight increase in funds from operations revenue while a decrease in net income. Company officials blamed this in part on the recent fiscal woes of some of its tenants.

The retail REIT’s report was for its fourth quarter and full year financial results for the fiscal year ended October 31, 2000. Funds from Operations increased to $11,914,000 or $1.05 per diluted common share and $1.17 per diluted class A common share from $11,878,000 or $1.04 per diluted common share and $1.16 per diluted class A common share in fiscal 1999.