Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm presently has a $6.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.78% from the stock’s previous close.

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. “

CDR has been the topic of a number of other research reports. Boenning Scattergood set a $5.00 target price on shares of Cedar Realty Trust and gave the stock a “sell” rating in a research report on Tuesday, November 28th. KeyCorp reiterated a “hold” rating on shares of Cedar Realty Trust in a research report on Wednesday, October 4th. ValuEngine upgraded shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Raymond James Financial reiterated a “hold” rating on shares of Cedar Realty Trust in a research report on Thursday, December 14th. Finally, B. Riley reiterated a “buy” rating on shares of Cedar Realty Trust in a research report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Cedar Realty Trust has an average rating of “Hold” and an average price target of $5.81.

Cedar Realty Trust (CDR) traded down $0.06 during midday trading on Friday, hitting $5.32. 263,079 shares of the stock were exchanged, compared to its average volume of 533,633. Cedar Realty Trust has a 52 week low of $4.70 and a 52 week high of $6.36. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market cap of $502.24, a P/E ratio of -76.00 and a beta of 0.96.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share (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 company had revenue of $36.40 million during the quarter, compared to the consensus estimate of $35.31 million. During the same period in the previous year, the firm posted $0.15 EPS. The firm’s revenue was down 3.7% compared to the same quarter last year. sell-side analysts predict that Cedar Realty Trust will post 0.55 earnings per share for the current fiscal year.

A number of large investors have recently modified their holdings of the stock. Wells Fargo & Company MN raised its position in Cedar Realty Trust by 1.7% in the 2nd quarter. Wells Fargo & Company MN now owns 59,280 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 1,012 shares during the period. M&T Bank Corp increased its position in shares of Cedar Realty Trust by 0.9% in the second quarter. M&T Bank Corp now owns 126,238 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 1,182 shares during the period. Principal Financial Group Inc. increased its position in shares of Cedar Realty Trust by 0.4% in the second quarter. Principal Financial Group Inc. now owns 593,775 shares of the real estate investment trust’s stock valued at $2,879,000 after acquiring an additional 2,450 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Cedar Realty Trust by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 71,816 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 3,115 shares during the period. Finally, Alliancebernstein L.P. increased its position in shares of Cedar Realty Trust by 3.5% in the second quarter. Alliancebernstein L.P. now owns 138,894 shares of the real estate investment trust’s stock valued at $674,000 after acquiring an additional 4,694 shares during the period. Institutional investors own 92.64% of the company’s stock.

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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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Analyst Recommendations for Cedar Realty Trust (NYSE:CDR)

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