Wall Street brokerages forecast that Cedar Realty Trust Inc (NYSE:CDR) will report sales of $36.33 million for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Cedar Realty Trust’s earnings, with estimates ranging from $35.64 million to $36.98 million. Cedar Realty Trust posted sales of $37.87 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.1%. The firm is expected to issue its next quarterly earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that Cedar Realty Trust will report full-year sales of $36.33 million for the current year, with estimates ranging from $144.54 million to $147.89 million. For the next fiscal year, analysts forecast that the business will report sales of $150.28 million per share, with estimates ranging from $146.42 million to $153.59 million. Zacks’ sales averages are an average based on a survey of research firms that cover Cedar Realty Trust.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $36.77 million during the quarter, compared to analyst estimates of $36.37 million. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The company’s revenue was down 3.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.14 earnings per share.

Several analysts recently commented on the stock. Zacks Investment Research upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Wednesday, March 22nd. TheStreet cut shares of Cedar Realty Trust from a “c” rating to a “d+” rating in a report on Thursday, February 23rd. Finally, Robert W. Baird upgraded shares of Cedar Realty Trust from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $8.00 to $6.00 in a report on Monday, March 13th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.94.

In related news, insider Bruce J. Schanzer purchased 7,000 shares of the firm’s stock in a transaction that occurred on Monday, February 27th. The stock was acquired at an average cost of $5.79 per share, for a total transaction of $40,530.00. Following the completion of the acquisition, the insider now owns 2,626,593 shares in the company, valued at approximately $15,207,973.47. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bruce J. Schanzer purchased 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 2nd. The shares were bought at an average price of $5.52 per share, with a total value of $27,600.00. Following the completion of the acquisition, the insider now owns 2,626,593 shares of the company’s stock, valued at approximately $14,498,793.36. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 48,725 shares of company stock valued at $259,086. 4.42% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. Independent Portfolio Consultants Inc. boosted its stake in Cedar Realty Trust by 9.1% in the first quarter. Independent Portfolio Consultants Inc. now owns 20,345 shares of the real estate investment trust’s stock valued at $102,000 after buying an additional 1,705 shares in the last quarter. OppenheimerFunds Inc. boosted its stake in Cedar Realty Trust by 50.3% in the first quarter. OppenheimerFunds Inc. now owns 22,840 shares of the real estate investment trust’s stock valued at $114,000 after buying an additional 7,648 shares in the last quarter. Credit Agricole S A boosted its stake in Cedar Realty Trust by 69.0% in the first quarter. Credit Agricole S A now owns 24,425 shares of the real estate investment trust’s stock valued at $123,000 after buying an additional 9,970 shares in the last quarter. Bank of Montreal Can boosted its stake in Cedar Realty Trust by 2.1% in the first quarter. Bank of Montreal Can now owns 24,850 shares of the real estate investment trust’s stock valued at $125,000 after buying an additional 504 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Cedar Realty Trust by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the real estate investment trust’s stock valued at $156,000 after buying an additional 500 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

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Cedar Realty Trust (NYSE:CDR) opened at 5.01 on Friday. Cedar Realty Trust has a 52-week low of $4.80 and a 52-week high of $8.08. The stock has a 50 day moving average of $5.22 and a 200-day moving average of $5.81. The firm has a market cap of $411.73 million, a price-to-earnings ratio of 108.91 and a beta of 0.88.

The business also recently declared a quarterly dividend, which was paid on Monday, May 22nd. Investors of record on Friday, May 12th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend was Wednesday, May 10th. Cedar Realty Trust’s dividend payout ratio is currently -666.44%.

Cedar Realty Trust Company Profile

Cedar Realty Trust, Inc is a real estate investment trust (REIT). The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. As of December 31, 2016, the Company owned and managed a portfolio of 61 operating properties (excluding properties held for sale) totaling approximately 9.1 million square feet of gross leasable area (GLA).

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