Northern Trust Corp Raises Position in Cedar Realty Trust, Inc. (CDR)
Northern Trust Corp lifted its stake in Cedar Realty Trust, Inc. (NYSE:CDR) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,491,023 shares of the real estate investment trust’s stock after purchasing an additional 27,681 shares during the period. Northern Trust Corp owned 1.81% of Cedar Realty Trust worth $7,232,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. OppenheimerFunds Inc. increased its holdings in shares of Cedar Realty Trust by 50.3% in the first quarter. OppenheimerFunds Inc. now owns 22,840 shares of the real estate investment trust’s stock valued at $114,000 after purchasing an additional 7,648 shares in the last quarter. KCG Holdings Inc. acquired a new stake in shares of Cedar Realty Trust in the first quarter valued at approximately $176,000. HighTower Advisors LLC increased its holdings in shares of Cedar Realty Trust by 77.5% in the first quarter. HighTower Advisors LLC now owns 36,317 shares of the real estate investment trust’s stock valued at $182,000 after purchasing an additional 15,860 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Cedar Realty Trust by 0.3% in the second quarter. Arizona State Retirement System now owns 39,683 shares of the real estate investment trust’s stock valued at $192,000 after purchasing an additional 100 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Cedar Realty Trust in the second quarter valued at approximately $199,000. 92.25% of the stock is owned by institutional investors and hedge funds.
Shares of Cedar Realty Trust, Inc. (NYSE CDR) opened at $5.93 on Friday. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.49. Cedar Realty Trust, Inc. has a fifty-two week low of $4.70 and a fifty-two week high of $6.79. The company has a market cap of $541.51, a price-to-earnings ratio of 10.59 and a beta of 0.93.
Cedar Realty Trust (NYSE:CDR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Cedar Realty Trust had a net margin of 11.42% and a return on equity of 4.18%. The firm had revenue of $36.40 million during the quarter, compared to analyst estimates of $35.31 million. During the same quarter in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. equities analysts forecast that Cedar Realty Trust, Inc. will post 0.55 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date is Thursday, November 9th. Cedar Realty Trust’s dividend payout ratio is presently -285.71%.
A number of analysts recently weighed in on the stock. B. Riley reissued a “buy” rating on shares of Cedar Realty Trust in a report on Wednesday, November 1st. BidaskClub lowered shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. FBR & Co raised their price target on shares of Cedar Realty Trust from $5.75 to $6.25 and gave the company an “outperform” rating in a report on Tuesday, August 8th. ValuEngine raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Zacks Investment Research raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $5.81.
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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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