Zacks Investment Research downgraded shares of Cedar Realty Trust, Inc. (NYSE:CDR) from a hold rating to a sell rating in a research note issued to investors on Wednesday.
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. “
Other analysts have also issued reports about the stock. BidaskClub raised shares of Cedar Realty Trust from a hold rating to a buy rating in a research report on Tuesday, August 1st. FBR & Co upped 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 report on Tuesday. TheStreet raised shares of Cedar Realty Trust from a d+ rating to a c rating in a research report on Friday, May 5th. Boenning Scattergood set a $5.00 price target on shares of Cedar Realty Trust and gave the stock a sell rating in a research report on Monday, August 7th. Finally, ValuEngine lowered shares of Cedar Realty Trust from a buy rating to a hold rating in a research report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $6.15.
Cedar Realty Trust (CDR) traded down 3.07% on Wednesday, reaching $5.05. 777,426 shares of the company were exchanged. The stock has a 50 day moving average of $5.10 and a 200 day moving average of $5.31. The firm’s market capitalization is $415.09 million. Cedar Realty Trust has a 12-month low of $4.70 and a 12-month high of $7.98.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Friday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 firm had revenue of $35.70 million for the quarter, compared to the consensus estimate of $35.97 million. During the same period last year, the company posted $0.15 earnings per share. The business’s revenue was down 5.7% compared to the same quarter last year. Equities analysts anticipate that Cedar Realty Trust will post $0.08 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.20 annualized dividend and a dividend yield of 3.96%. Cedar Realty Trust’s dividend payout ratio is currently -333.28%.
In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the company’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 directly owns 75,874 shares in the company, valued at $370,265.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its position in Cedar Realty Trust by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,085,185 shares of the real estate investment trust’s stock valued at $7,086,000 after buying an additional 71,436 shares during the period. Norges Bank acquired a new position in Cedar Realty Trust during the fourth quarter valued at approximately $6,764,000. Bank of Montreal Can increased its position in Cedar Realty Trust by 2.1% in the first quarter. Bank of Montreal Can now owns 24,850 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 504 shares during the period. Louisiana State Employees Retirement System increased its position in Cedar Realty Trust by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 500 shares during the period. Finally, Independent Portfolio Consultants Inc. increased its position in Cedar Realty Trust by 9.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 20,345 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 1,705 shares during the period. Institutional investors and hedge funds own 97.45% of the company’s stock.
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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