Cedar Realty Trust, Inc. (CDR) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Cedar Realty Trust, Inc. (NYSE:CDR) from a hold rating to a buy rating in a research note published on Monday. The brokerage currently has $7.50 price target on the real estate investment trust’s stock.
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. “
Several other research analysts have also issued reports on the company. Raymond James Financial, Inc. reaffirmed a market perform rating on shares of Cedar Realty Trust in a research report on Monday. KeyCorp lowered Cedar Realty Trust to an overweight rating in a research report on Wednesday, December 21st. Finally, Wunderlich lowered their target price on Cedar Realty Trust from $8.50 to $7.75 and set a buy rating for the company in a research report on Monday, November 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. Cedar Realty Trust presently has an average rating of Hold and a consensus price target of $7.25.
Cedar Realty Trust (NYSE:CDR) opened at 6.31 on Monday. The stock’s 50 day moving average price is $6.43 and its 200 day moving average price is $7.05. The firm’s market capitalization is $517.75 million. Cedar Realty Trust has a 52-week low of $5.92 and a 52-week high of $8.08.
Cedar Realty Trust (NYSE:CDR) last announced its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business earned $37.79 million during the quarter, compared to analyst estimates of $37.33 million. Cedar Realty Trust had a return on equity of 3.26% and a net margin of 8.46%. Cedar Realty Trust’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $0.14 EPS. On average, analysts predict that Cedar Realty Trust will post ($0.05) EPS for the current fiscal year.
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In other Cedar Realty Trust news, Director Abraham Eisenstat acquired 10,000 shares of the stock in a transaction dated Monday, November 7th. The stock was purchased at an average cost of $6.29 per share, with a total value of $62,900.00. Following the transaction, the director now owns 36,782 shares in the company, valued at approximately $231,358.78. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Bruce J. Schanzer acquired 5,000 shares of the stock in a transaction dated Monday, November 7th. The stock was acquired at an average cost of $6.30 per share, with a total value of $31,500.00. Following the completion of the transaction, the insider now owns 2,619,593 shares in the company, valued at approximately $16,503,435.90. The disclosure for this purchase can be found here. 4.42% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in shares of Cedar Realty Trust during the third quarter worth approximately $103,000. Mason Street Advisors LLC purchased a new stake in shares of Cedar Realty Trust during the second quarter worth approximately $109,000. Guggenheim Capital LLC raised its stake 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 last quarter. Hsbc Holdings PLC raised its stake in shares of Cedar Realty Trust by 0.4% in the second quarter. Hsbc Holdings PLC now owns 18,035 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 79 shares during the last quarter. Finally, Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Cedar Realty Trust by 28.8% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 18,698 shares of the real estate investment trust’s stock worth $135,000 after buying an additional 4,178 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.
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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