Cedar Realty Trust, Inc. (NYSE:CDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued 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. “

Several other research analysts have also issued reports on the company. Robert W. Baird raised Cedar Realty Trust from a “neutral” rating to an “outperform” rating and reduced their target price for the company from $8.00 to $6.00 in a research report on Monday, March 13th. ValuEngine lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, TheStreet raised Cedar Realty Trust from a “d+” rating to a “c” rating in a report on Friday, May 5th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $6.50.

Cedar Realty Trust (NYSE CDR) traded up 0.40% during mid-day trading on Monday, hitting $4.97. The stock had a trading volume of 734,028 shares. The stock has a market cap of $408.44 million, a price-to-earnings ratio of 108.04 and a beta of 0.88. Cedar Realty Trust has a 12 month low of $4.70 and a 12 month high of $8.08. The stock’s 50-day moving average price is $5.06 and its 200-day moving average price is $5.57.

Cedar Realty Trust (NYSE:CDR) last issued its earnings results on Thursday, May 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $36.77 million during the quarter, compared to analysts’ expectations of $36.37 million. Cedar Realty Trust had a return on equity of 4.88% and a net margin of 12.74%. The business’s revenue for the quarter was down 3.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.14 EPS. On average, analysts predict that Cedar Realty Trust will post $0.12 earnings per share for the current year.

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In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $4.88, for a total transaction of $47,623.92. Following the transaction, the director now owns 75,874 shares in the company, valued at $370,265.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.50% of the company’s stock.

A number of institutional investors have recently modified their holdings of the company. Westpac Banking Corp acquired a new position in shares of Cedar Realty Trust during the third quarter worth about $4,090,000. California State Teachers Retirement System increased its position in shares of Cedar Realty Trust by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 157,544 shares of the real estate investment trust’s stock worth $1,115,000 after buying an additional 2,759 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Cedar Realty Trust by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 962,561 shares of the real estate investment trust’s stock worth $6,815,000 after buying an additional 5,779 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in shares of 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 worth $102,000 after buying an additional 1,705 shares in the last quarter. Finally, Russell Frank Co increased its position in shares of Cedar Realty Trust by 8.3% in the fourth quarter. Russell Frank Co now owns 602,375 shares of the real estate investment trust’s stock worth $4,337,000 after buying an additional 46,032 shares in the last quarter. Institutional investors own 98.12% of the company’s stock.

About Cedar Realty Trust

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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