Cedar Realty Trust Inc. (CDR) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of bread and butter supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company owns and operates shopping center properties which are anchored by supermarkets and/or drugstores. “
Separately, Wunderlich cut their target price on shares of Cedar Realty Trust from $8.50 to $7.75 and set a buy rating on the stock in a research report on Monday, November 7th.
Cedar Realty Trust (NYSE:CDR) opened at 6.59 on Thursday. The firm’s market capitalization is $540.72 million. Cedar Realty Trust has a one year low of $5.92 and a one year high of $8.08. The stock has a 50 day moving average price of $6.65 and a 200 day moving average price of $7.18.
Cedar Realty Trust (NYSE:CDR) last issued its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The firm had revenue of $37.79 million for the quarter, compared to analyst estimates of $37.33 million. During the same quarter last year, the business posted $0.14 earnings per share. The company’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Cedar Realty Trust will post ($0.05) EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 11th were given a $0.05 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 3.03%. Cedar Realty Trust’s dividend payout ratio is currently -666.44%.
In other Cedar Realty Trust news, CFO Philip Mays sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.50, for a total value of $187,500.00. Following the sale, the chief financial officer now owns 776,042 shares in the company, valued at $5,820,315. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bruce J. Schanzer bought 5,000 shares of the business’s stock in a transaction on Monday, November 7th. The stock was bought at an average price of $6.30 per share, for a total transaction of $31,500.00. Following the transaction, the insider now directly owns 2,619,593 shares of the company’s stock, valued at $16,503,435.90. The disclosure for this purchase can be found here. 4.42% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of CDR. SG Americas Securities LLC bought a new stake in shares of Cedar Realty Trust during the third quarter worth $103,000. Mizuho Trust & Banking Co. Ltd. raised its position in shares of Cedar Realty Trust by 5.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 14,520 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 696 shares during the period. Guggenheim Capital LLC raised its position in shares of Cedar Realty Trust by 10.5% in the second quarter. Guggenheim Capital LLC now owns 14,684 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,393 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Cedar Realty Trust during the second quarter worth approximately $109,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Cedar Realty Trust during the second quarter worth approximately $126,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.
Cedar Realty Trust Company Profile
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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