Cedar Realty Trust Inc. (CDR) Stock Price Down 2%
Cedar Realty Trust Inc. (NYSE:CDR) was down 2% on Wednesday . The company traded as low as $7.58 and last traded at $7.65, with a volume of 251,739 shares changing hands. The stock had previously closed at $7.81.
A number of equities research analysts have weighed in on CDR shares. Wunderlich raised Cedar Realty Trust from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.50 to $8.00 in a research report on Tuesday, May 10th. Zacks Investment Research raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, July 12th. Finally, Boenning Scattergood lowered Cedar Realty Trust from a “neutral” rating to an “underperform” rating and set a $6.50 target price for the company. in a research report on Tuesday, June 28th.
The company has a market capitalization of $624.10 million and a PE ratio of 118.828. The company has a 50-day moving average of $7.59 and a 200-day moving average of $7.14.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The company earned $37.87 million during the quarter, compared to analysts’ expectations of $37.74 million. Cedar Realty Trust’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the company earned $0.14 earnings per share. On average, equities research analysts anticipate that Cedar Realty Trust Inc. will post $0.08 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, August 12th will be given a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.65%.
A number of hedge funds and institutional investors have modified their holdings of CDR. Employees Retirement System of Texas acquired a new position in shares of Cedar Realty Trust during the fourth quarter valued at $1,062,000. Rhumbline Advisers raised its position in shares of Cedar Realty Trust by 4.6% in the fourth quarter. Rhumbline Advisers now owns 152,116 shares of the real estate investment trust’s stock valued at $1,077,000 after buying an additional 6,710 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Cedar Realty Trust by 15.8% in the fourth quarter. Victory Capital Management Inc. now owns 154,070 shares of the real estate investment trust’s stock valued at $1,091,000 after buying an additional 21,070 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Cedar Realty Trust by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 962,561 shares of the real estate investment trust’s stock valued at $6,815,000 after buying an additional 5,779 shares during the last quarter. Finally, BlackRock Advisors LLC raised its position in shares of Cedar Realty Trust by 37.3% in the fourth quarter. BlackRock Advisors LLC now owns 1,652,752 shares of the real estate investment trust’s stock valued at $11,701,000 after buying an additional 448,746 shares during the last quarter.
Cedar Realty Trust, Inc is a real estate investment trust. The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. The Company focuses its investment activities on grocery-anchored shopping centers. It owns and manages a portfolio of approximately 60 operating properties, including approximately 30 properties in Pennsylvania; over eight properties in Massachusetts; approximately seven properties in Connecticut; over six properties in Maryland; approximately eight properties in Virginia; over three properties in New Jersey, and one property in New York.
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