Cedar Realty Trust Inc. (CDR) Shares Down 2%
Cedar Realty Trust Inc. (NYSE:CDR)’s share price dropped 2% on Thursday . The stock traded as low as $7.37 and last traded at $7.41, with a volume of 130,900 shares changing hands. The stock had previously closed at $7.56.
CDR has been the topic of several research analyst reports. Zacks Investment Research raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. 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 note on Tuesday, May 10th. Finally, Boenning Scattergood cut Cedar Realty Trust from a “neutral” rating to an “underperform” rating and set a $6.50 target price on the stock. in a research note on Tuesday, June 28th.
The company’s 50 day moving average is $7.65 and its 200 day moving average is $7.17. The stock has a market capitalization of $614.59 million and a price-to-earnings ratio of 133.75.
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 the consensus estimate of $0.03 by $0.11. The firm earned $37.87 million during the quarter, compared to the consensus estimate of $37.74 million. During the same quarter in the prior year, the business earned $0.14 EPS. Cedar Realty Trust’s revenue was up 3.1% on a year-over-year basis. Equities analysts expect that Cedar Realty Trust Inc. will post $0.03 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 22nd. Shareholders of record on Friday, August 12th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 2.67%. The ex-dividend date is Wednesday, August 10th.
A number of institutional investors recently added to or reduced their stakes in the stock. Employees Retirement System of Texas bought a new position in Cedar Realty Trust during the fourth quarter valued at $1,062,000. Rhumbline Advisers raised its position in 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 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 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 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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