Brokerages Anticipate Cedar Realty Trust Inc (CDR) Will Post Quarterly Sales of $35.99 Million
Wall Street analysts forecast that Cedar Realty Trust Inc (NYSE:CDR) will announce sales of $35.99 million for the current quarter, according to Zacks. Three analysts have made estimates for Cedar Realty Trust’s earnings, with the highest sales estimate coming in at $36.14 million and the lowest estimate coming in at $35.89 million. Cedar Realty Trust reported sales of $37.14 million during the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The company is scheduled to announce its next earnings results on Thursday, February 14th.
According to Zacks, analysts expect that Cedar Realty Trust will report full-year sales of $151.08 million for the current financial year, with estimates ranging from $150.98 million to $151.23 million. For the next year, analysts expect that the firm will report sales of $143.96 million, with estimates ranging from $142.82 million to $144.92 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that that provide coverage for Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last posted its earnings results on Thursday, November 1st. The real estate investment trust reported $0.04 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.10. The company had revenue of $36.17 million for the quarter, compared to the consensus estimate of $36.41 million. Cedar Realty Trust had a return on equity of 1.17% and a net margin of 3.16%.
In related news, insider Bruce J. Schanzer purchased 10,840 shares of the business’s stock in a transaction dated Tuesday, November 27th. The stock was bought at an average cost of $3.40 per share, with a total value of $36,856.00. Following the completion of the acquisition, the insider now directly owns 2,111,393 shares in the company, valued at approximately $7,178,736.20. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.41% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in CDR. Man Group plc raised its holdings in shares of Cedar Realty Trust by 1,670.7% in the third quarter. Man Group plc now owns 1,574,551 shares of the real estate investment trust’s stock worth $7,337,000 after acquiring an additional 1,485,629 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Cedar Realty Trust by 10.6% in the third quarter. BlackRock Inc. now owns 13,450,470 shares of the real estate investment trust’s stock worth $62,679,000 after acquiring an additional 1,287,427 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Cedar Realty Trust by 212.0% in the second quarter. Millennium Management LLC now owns 1,482,783 shares of the real estate investment trust’s stock worth $6,999,000 after acquiring an additional 1,007,583 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in shares of Cedar Realty Trust by 43.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,509,123 shares of the real estate investment trust’s stock worth $11,844,000 after acquiring an additional 762,296 shares during the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in shares of Cedar Realty Trust in the second quarter worth $2,276,000. 91.83% of the stock is owned by institutional investors.
CDR opened at $3.62 on Friday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.52. The firm has a market cap of $313.76 million, a price-to-earnings ratio of 6.58 and a beta of 0.89. Cedar Realty Trust has a one year low of $3.34 and a one year high of $6.20.
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Stockholders of record on Friday, November 9th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.52%. Cedar Realty Trust’s dividend payout ratio (DPR) is 36.36%.
Cedar Realty Trust Company Profile
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 58 properties, with approximately 8.7 million square feet of gross leasable area.
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