Cedar Realty Trust, Inc. (CDR) Short Interest Down 52.8% in August
Cedar Realty Trust, Inc. (NYSE:CDR) was the target of a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 2,847,733 shares, a drop of 52.8% from the July 31st total of 6,035,202 shares. Approximately 3.5% of the company’s shares are short sold. Based on an average trading volume of 463,136 shares, the short-interest ratio is presently 6.1 days.
CDR has been the topic of several analyst reports. FBR & Co lifted their price target on shares of Cedar Realty Trust from $5.75 to $6.25 and gave the stock an “outperform” rating in a research note on Tuesday, August 8th. BidaskClub downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday, August 16th. ValuEngine downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, Boenning Scattergood set a $5.00 price target on shares of Cedar Realty Trust and gave the stock a “sell” rating in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $6.15.
Shares of Cedar Realty Trust (NYSE:CDR) opened at 5.06 on Tuesday. The stock’s market cap is $415.92 million. Cedar Realty Trust has a 1-year low of $4.70 and a 1-year high of $7.98. The company’s 50-day moving average is $5.12 and its 200 day moving average is $5.20.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Friday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.24. Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. The company had revenue of $35.70 million for the quarter, compared to the consensus estimate of $35.97 million. During the same period in the prior year, the company earned $0.15 EPS. The firm’s revenue was down 5.7% compared to the same quarter last year. Equities research analysts anticipate that Cedar Realty Trust will post $0.06 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date was Wednesday, August 9th. Cedar Realty Trust’s dividend payout ratio is currently -333.28%.
In other news, Director Paul G. Kirk, Jr. sold 9,759 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total value of $47,623.92. Following the transaction, the director now owns 75,874 shares of the company’s stock, valued at approximately $370,265.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.50% of the company’s stock.
A number of large investors have recently modified their holdings of CDR. Independent Portfolio Consultants Inc. grew its holdings in Cedar Realty Trust by 9.1% during the 1st quarter. Independent Portfolio Consultants Inc. now owns 20,345 shares of the real estate investment trust’s stock worth $102,000 after acquiring an additional 1,705 shares during the last quarter. Susquehanna International Group LLP bought a new stake in Cedar Realty Trust during the 2nd quarter worth about $103,000. Verition Fund Management LLC grew its holdings in Cedar Realty Trust by 68.3% during the 2nd quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock worth $109,000 after acquiring an additional 9,097 shares during the last quarter. OppenheimerFunds Inc. grew its holdings in Cedar Realty Trust by 50.3% during the 1st quarter. OppenheimerFunds Inc. now owns 22,840 shares of the real estate investment trust’s stock worth $114,000 after acquiring an additional 7,648 shares during the last quarter. Finally, Credit Agricole S A grew its holdings in Cedar Realty Trust by 69.0% during the 1st quarter. Credit Agricole S A now owns 24,425 shares of the real estate investment trust’s stock worth $123,000 after acquiring an additional 9,970 shares during the last quarter. 92.21% of the stock is currently owned by hedge funds and other institutional investors.
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About Cedar Realty Trust
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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