$35.55 Million in Sales Expected for Cedar Realty Trust Inc (NYSE:CDR) This Quarter
Brokerages predict that Cedar Realty Trust Inc (NYSE:CDR) will report $35.55 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Cedar Realty Trust’s earnings. The highest sales estimate is $35.67 million and the lowest is $35.32 million. Cedar Realty Trust posted sales of $36.17 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.7%. The firm is expected to issue its next earnings report on Thursday, November 7th.
On average, analysts expect that Cedar Realty Trust will report full-year sales of $144.36 million for the current financial year, with estimates ranging from $143.42 million to $144.97 million. For the next year, analysts expect that the business will post sales of $145.68 million, with estimates ranging from $144.61 million to $147.61 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The firm had revenue of $35.66 million for the quarter, compared to analysts’ expectations of $35.77 million. Cedar Realty Trust had a net margin of 13.08% and a return on equity of 4.86%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Cedar Realty Trust in the 2nd quarter valued at $29,000. Crossmark Global Holdings Inc. bought a new stake in Cedar Realty Trust in the second quarter worth $29,000. Bank of Montreal Can boosted its position in Cedar Realty Trust by 167.6% during the second quarter. Bank of Montreal Can now owns 11,602 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 7,266 shares during the period. BNP Paribas Arbitrage SA boosted its position in Cedar Realty Trust by 180.0% during the first quarter. BNP Paribas Arbitrage SA now owns 17,892 shares of the real estate investment trust’s stock valued at $61,000 after buying an additional 11,502 shares during the period. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Cedar Realty Trust by 90.2% during the second quarter. Cubist Systematic Strategies LLC now owns 25,190 shares of the real estate investment trust’s stock valued at $67,000 after buying an additional 11,945 shares during the last quarter. Institutional investors and hedge funds own 89.27% of the company’s stock.
Shares of CDR traded up $0.05 during trading hours on Friday, reaching $2.79. 403,523 shares of the company’s stock traded hands, compared to its average volume of 343,183. Cedar Realty Trust has a 12 month low of $2.19 and a 12 month high of $4.69. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 1.67. The stock has a market cap of $245.70 million, a PE ratio of 4.81 and a beta of 0.90. The firm’s 50 day simple moving average is $2.43 and its 200-day simple moving average is $2.89.
The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 9th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $0.20 dividend on an annualized basis and a yield of 7.17%. Cedar Realty Trust’s dividend payout ratio is presently 34.48%.
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 58 properties, with approximately 8.7 million square feet of gross leasable area.
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