Brokers Set Expectations for Cedar Realty Trust, Inc.’s FY2018 Earnings (NYSE:CDR)
Cedar Realty Trust, Inc. (NYSE:CDR) – Equities research analysts at Boenning Scattergood decreased their FY2018 earnings per share (EPS) estimates for Cedar Realty Trust in a research report issued to clients and investors on Monday. Boenning Scattergood analyst F. Van. Dijkum now forecasts that the real estate investment trust will earn $0.54 per share for the year, down from their prior forecast of $0.55. Boenning Scattergood currently has a “Sell” rating and a $5.00 target price on the stock.
Several other analysts have also recently commented on the stock. BidaskClub cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday. FBR & Co boosted their price objective on shares of Cedar Realty Trust from $5.75 to $6.25 and gave the company an “outperform” rating in a research note on Tuesday. Zacks Investment Research cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. ValuEngine cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, TheStreet raised shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.15.
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Cedar Realty Trust (NYSE:CDR) traded up 0.76% on Wednesday, reaching $5.31. The company’s stock had a trading volume of 242,540 shares. The firm has a market capitalization of $436.39 million, a price-to-earnings ratio of 115.43 and a beta of 0.89. The company has a 50 day moving average of $5.05 and a 200 day moving average of $5.35. Cedar Realty Trust has a 52 week low of $4.70 and a 52 week high of $7.98.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Friday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.14 by $0.24. The firm had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $35.97 million. Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. The company’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.15 earnings per share.
Several hedge funds have recently made changes to their positions in CDR. Vanguard Group Inc. boosted its stake in shares of Cedar Realty Trust by 6.2% in the first quarter. Vanguard Group Inc. now owns 10,857,885 shares of the real estate investment trust’s stock valued at $54,507,000 after buying an additional 630,915 shares in the last quarter. State Street Corp boosted its stake in shares of Cedar Realty Trust by 6.6% in the first quarter. State Street Corp now owns 3,143,559 shares of the real estate investment trust’s stock valued at $15,785,000 after buying an additional 193,877 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Cedar Realty Trust by 124.3% in the second quarter. Deprince Race & Zollo Inc. now owns 1,832,679 shares of the real estate investment trust’s stock valued at $8,888,000 after buying an additional 1,015,607 shares in the last quarter. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Cedar Realty Trust during the first quarter valued at about $8,785,000. Finally, Kennedy Capital Management Inc. bought a new stake in shares of Cedar Realty Trust during the first quarter valued at about $6,964,000. 97.45% of the stock is owned by institutional investors.
In other news, Director Paul G. Kirk, Jr. sold 9,759 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total transaction of $47,623.92. Following the completion of the sale, the director now directly owns 75,874 shares of the company’s stock, valued at approximately $370,265.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.20 annualized dividend and a dividend yield of 3.76%. Cedar Realty Trust’s dividend payout ratio is presently -333.28%.
Cedar Realty Trust Company Profile
Cedar Realty Trust, Inc is a real estate investment trust (REIT). The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. As of December 31, 2016, the Company owned and managed a portfolio of 61 operating properties (excluding properties held for sale) totaling approximately 9.1 million square feet of gross leasable area (GLA).
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