Cedar Realty Trust Inc. (CDR) Upgraded by Zacks Investment Research to “Hold”
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. “
Separately, Wunderlich lifted their price target on Cedar Realty Trust from $8.00 to $8.50 and gave the stock a buy rating in a report on Monday, August 8th.
Cedar Realty Trust (NYSE:CDR) opened at 6.64 on Thursday. Cedar Realty Trust has a one year low of $5.92 and a one year high of $8.08. The company’s market capitalization is $544.83 million. The firm’s 50-day moving average is $6.66 and its 200 day moving average is $7.18.
Cedar Realty Trust (NYSE:CDR) last announced its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The company had revenue of $37.79 million for the quarter, compared to analysts’ expectations of $37.33 million. During the same quarter in the previous year, the company posted $0.14 EPS. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts expect that Cedar Realty Trust will post ($0.05) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Investors of record on Friday, November 11th were issued a $0.05 dividend. The ex-dividend date was Tuesday, November 8th. This represents a $0.20 annualized dividend and a yield of 3.01%. Cedar Realty Trust’s dividend payout ratio (DPR) is currently -666.44%.
In related news, insider Bruce J. Schanzer acquired 5,000 shares of Cedar Realty Trust stock in a transaction that occurred on Monday, November 7th. The shares were purchased at an average cost of $6.30 per share, for a total transaction of $31,500.00. Following the acquisition, the insider now owns 2,619,593 shares in the company, valued at $16,503,435.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philip Mays sold 25,000 shares of the business’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $7.50, for a total transaction of $187,500.00. Following the completion of the sale, the chief financial officer now owns 776,042 shares in the company, valued at $5,820,315. The disclosure for this sale can be found here. 4.42% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the stock. California Public Employees Retirement System increased its position in Cedar Realty Trust by 17.9% in the second quarter. California Public Employees Retirement System now owns 295,700 shares of the real estate investment trust’s stock valued at $2,197,000 after buying an additional 45,000 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Cedar Realty Trust during the second quarter valued at $126,000. Victory Capital Management Inc. increased its position in Cedar Realty Trust by 0.5% in the second quarter. Victory Capital Management Inc. now owns 155,415 shares of the real estate investment trust’s stock valued at $1,155,000 after buying an additional 710 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new position in Cedar Realty Trust during the second quarter valued at $571,000. Finally, Chartwell Investment Partners LLC purchased a new position in Cedar Realty Trust during the second quarter valued at $3,027,000. Hedge funds and other institutional investors own 95.39% of the company’s stock.
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About Cedar Realty Trust
Cedar Realty Trust, Inc is a real estate investment trust. The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. The Company focuses its investment activities on grocery-anchored shopping centers. It owns and manages a portfolio of approximately 60 operating properties, including approximately 30 properties in Pennsylvania; over eight properties in Massachusetts; approximately seven properties in Connecticut; over six properties in Maryland; approximately eight properties in Virginia; over three properties in New Jersey, and one property in New York.
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