Cedar Realty Trust Inc. (CDR) Shares Down 2%
Cedar Realty Trust Inc. (NYSE:CDR) shares traded down 2% on Thursday . The company 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.
A number of research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday. Wunderlich increased their price objective on shares of Cedar Realty Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research report on Monday, August 8th. Finally, Boenning Scattergood downgraded shares of Cedar Realty Trust from a “neutral” rating to an “underperform” rating and set a $6.50 price objective on the stock. in a research report on Tuesday, June 28th.
The firm has a 50-day moving average of $7.66 and a 200-day moving average of $7.17. The firm has a market cap of $617.05 million and a price-to-earnings ratio of 134.29.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.14 EPS for the quarter, beating the consensus estimate of $0.03 by $0.11. During the same quarter in the prior year, the firm posted $0.14 EPS. The business earned $37.87 million during the quarter, compared to the consensus estimate of $37.74 million. The company’s revenue for the quarter was up 3.1% compared to the same quarter last year. Analysts predict that Cedar Realty Trust Inc. will post $0.03 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Friday, August 12th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.20 annualized dividend and a dividend yield of 2.66%.
Other large investors have bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake 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 in the last quarter. Victory Capital Management Inc. increased 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 worth $1,091,000 after buying an additional 21,070 shares during the last quarter. Finally, Rhumbline Advisers increased 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 worth $1,077,000 after buying an additional 6,710 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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