Cedar Realty Trust, Inc. (CDR) Short Interest Update
Cedar Realty Trust, Inc. (NYSE:CDR) was the recipient of a significant 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. Based on an average daily volume of 463,136 shares, the short-interest ratio is presently 6.1 days. Approximately 3.5% of the shares of the stock are short sold.
In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total transaction of $47,623.92. Following the completion of the transaction, the director now owns 75,874 shares in the company, valued at $370,265.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of CDR. Independent Portfolio Consultants Inc. boosted its position in shares of 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 in the last quarter. Susquehanna International Group LLP purchased a new position in shares of Cedar Realty Trust during the second quarter valued at approximately $103,000. Verition Fund Management LLC boosted its position in shares of Cedar Realty Trust by 68.3% in the second quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock valued at $109,000 after buying an additional 9,097 shares in the last quarter. OppenheimerFunds Inc. boosted its position 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 buying an additional 7,648 shares in the last quarter. Finally, Credit Agricole S A boosted its position in shares of Cedar Realty Trust by 69.0% in the first quarter. Credit Agricole S A now owns 24,425 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 9,970 shares in the last quarter. 92.21% of the stock is owned by institutional investors.
A number of brokerages have commented on CDR. BidaskClub cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note 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 stock an “outperform” rating in a research note on Tuesday, August 8th. Zacks Investment Research upgraded shares of Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research note on Wednesday, July 5th. TheStreet upgraded shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a research note on Friday, May 5th. 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 research 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’s stock. Cedar Realty Trust presently has an average rating of “Hold” and a consensus target price of $6.15.
Cedar Realty Trust (NYSE:CDR) opened at 5.02 on Thursday. The company’s market cap is $412.63 million. Cedar Realty Trust has a 1-year low of $4.70 and a 1-year high of $7.98. The stock has a 50 day moving average of $5.12 and a 200-day moving average of $5.24.
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 the consensus estimate of $0.14 by $0.24. The firm had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $35.97 million. Cedar Realty Trust had a net margin of 6.58% and a return on equity of 2.49%. Cedar Realty Trust’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 EPS. On average, equities research analysts predict that Cedar Realty Trust will post $0.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Friday, August 11th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, August 9th. This represents a $0.20 annualized dividend and a yield of 3.98%. Cedar Realty Trust’s dividend payout ratio is currently -333.28%.
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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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