Zacks: Brokerages Expect Cedar Realty Trust Inc (CDR) Will Post Quarterly Sales of $36.83 Million
Brokerages forecast that Cedar Realty Trust Inc (NYSE:CDR) will report $36.83 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for Cedar Realty Trust’s earnings, with the highest sales estimate coming in at $37.37 million and the lowest estimate coming in at $36.10 million. Cedar Realty Trust posted sales of $36.77 million in the same quarter last year, which would indicate a positive year over year growth rate of 0.2%. The business is expected to issue its next earnings results after the market closes on Thursday, May 3rd.
On average, analysts expect that Cedar Realty Trust will report full year sales of $146.66 million for the current fiscal year, with estimates ranging from $144.25 million to $147.89 million. For the next year, analysts forecast that the business will report sales of $148.85 million per share, with estimates ranging from $147.04 million to $150.54 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The company had revenue of $37.14 million during the quarter, compared to analyst estimates of $37.06 million. Cedar Realty Trust had a net margin of 13.11% and a return on equity of 4.71%. Cedar Realty Trust’s revenue for the quarter was down .1% on a year-over-year basis. During the same period in the prior year, the business earned $0.14 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the business. Snow Park Capital Partners LP acquired a new position in shares of Cedar Realty Trust in the fourth quarter worth about $21,863,000. Deprince Race & Zollo Inc. lifted its stake in shares of Cedar Realty Trust by 33.5% in the fourth quarter. Deprince Race & Zollo Inc. now owns 3,331,200 shares of the real estate investment trust’s stock worth $20,254,000 after acquiring an additional 835,507 shares in the last quarter. LSV Asset Management lifted its stake in shares of Cedar Realty Trust by 17.3% in the fourth quarter. LSV Asset Management now owns 1,623,292 shares of the real estate investment trust’s stock worth $9,869,000 after acquiring an additional 239,400 shares in the last quarter. Boston Partners lifted its stake in shares of Cedar Realty Trust by 11.9% in the fourth quarter. Boston Partners now owns 1,583,260 shares of the real estate investment trust’s stock worth $9,627,000 after acquiring an additional 168,310 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Cedar Realty Trust by 52.8% in the fourth quarter. Renaissance Technologies LLC now owns 1,514,800 shares of the real estate investment trust’s stock worth $9,210,000 after acquiring an additional 523,600 shares in the last quarter. Institutional investors own 94.46% of the company’s stock.
Shares of CDR traded up $0.03 during mid-day trading on Friday, reaching $3.90. The company’s stock had a trading volume of 36,523 shares, compared to its average volume of 590,174. Cedar Realty Trust has a 12-month low of $3.62 and a 12-month high of $6.29. The company has a market cap of $348.30, a P/E ratio of 7.04 and a beta of 0.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.00.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 21st. Shareholders of record on Friday, May 11th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.13%. The ex-dividend date of this dividend is Thursday, May 10th. Cedar Realty Trust’s dividend payout ratio is presently 36.36%.
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About Cedar Realty Trust
Cedar Realty Trust, Inc is a fully-integrated real estate investment trust which focuses on the ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, DC to Boston. The Company's portfolio (excluding properties treated as "held for sale") comprises 61 properties, with approximately 9.0 million square feet of gross leasable area.
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