Cedar Realty Trust Downgraded to Hold at Stifel Nicolaus (CDR)
Cedar Realty Trust (NYSE:CDR) was downgraded by research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a report released on Monday, TheFlyOnTheWall.com reports. They currently have a $7.00 price target on the stock. Stifel Nicolaus’ price objective suggests a potential upside of 10.06% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other analysts have also recently weighed in on CDR. Analysts at Merrill Lynch downgraded shares of Cedar Realty Trust to an “underperform” rating in a research note to investors on Tuesday, December 17th. Analysts at Bank of America Corp. downgraded shares of Cedar Realty Trust from a “neutral” rating to an “underperform” rating in a research note to investors on Tuesday, December 17th. They now have a $5.75 price target on the stock. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $6.68.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.13 EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.01) by $0.14. The company had revenue of $35.44 million for the quarter, compared to the consensus estimate of $35.03 million.
Cedar Realty Trust, Inc, formerly Cedar Shopping Centers, Inc, is a fully-integrated real estate investment trust (NYSE:CDR), which focuses primarily on ownership and operation of supermarket-anchored shopping centers.
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