Zacks Investment Research Upgrades Cedar Realty Trust Inc. (CDR) to Hold
Cedar Realty Trust Inc. (NYSE:CDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
According to Zacks, “Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of bread and butter supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company owns and operates shopping center properties which are anchored by supermarkets and/or drugstores. “
CDR has been the subject of a number of other research reports. Wunderlich upped their target price on Cedar Realty Trust from $8.00 to $8.50 and gave the company a “buy” rating in a report on Monday, August 8th. Boenning Scattergood downgraded Cedar Realty Trust from a “neutral” rating to an “underperform” rating and set a $6.50 target price for the company. in a report on Tuesday, June 28th.
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Cedar Realty Trust (NYSE:CDR) traded down 2.12% during trading on Monday, reaching $6.93. 348,107 shares of the company’s stock were exchanged. Cedar Realty Trust has a 12 month low of $6.47 and a 12 month high of $8.08. The firm has a 50 day moving average of $7.28 and a 200-day moving average of $7.27. The stock has a market cap of $568.64 million, a PE ratio of 123.75 and a beta of 1.10.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The firm earned $37.87 million during the quarter, compared to analyst estimates of $37.74 million. Cedar Realty Trust had a return on equity of 4.94% and a net margin of 13.14%. The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.14 earnings per share. On average, equities research analysts anticipate that Cedar Realty Trust will post $0.03 earnings per share for the current fiscal year.
In other Cedar Realty Trust news, CFO Philip Mays sold 25,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $7.50, for a total value of $187,500.00. Following the completion of the transaction, the chief financial officer now owns 776,042 shares in the company, valued at $5,820,315. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.42% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust increased its position in Cedar Realty Trust by 4.2% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 66,762 shares of the real estate investment trust’s stock worth $496,000 after buying an additional 2,699 shares during the period. Louisiana State Employees Retirement System increased its position in Cedar Realty Trust by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 33,300 shares of the real estate investment trust’s stock worth $247,000 after buying an additional 200 shares during the period. Bank of Montreal Can purchased a new position in Cedar Realty Trust during the second quarter worth about $1,816,000. Fox Run Management L.L.C. purchased a new position in Cedar Realty Trust during the second quarter worth about $126,000. Finally, BNP Paribas Arbitrage SA increased its position in Cedar Realty Trust by 126.4% in the second quarter. BNP Paribas Arbitrage SA now owns 24,472 shares of the real estate investment trust’s stock worth $182,000 after buying an additional 13,661 shares during the period. Institutional investors and hedge funds own 97.00% of the company’s stock.
About Cedar Realty Trust
Cedar Realty Trust, Inc is a real estate investment trust. The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. The Company focuses its investment activities on grocery-anchored shopping centers. It owns and manages a portfolio of approximately 60 operating properties, including approximately 30 properties in Pennsylvania; over eight properties in Massachusetts; approximately seven properties in Connecticut; over six properties in Maryland; approximately eight properties in Virginia; over three properties in New Jersey, and one property in New York.
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