$0.14 EPS Expected for Cedar Realty Trust, Inc. (CDR) This Quarter
Brokerages expect that Cedar Realty Trust, Inc. (NYSE:CDR) will report earnings of $0.14 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Cedar Realty Trust’s earnings. Cedar Realty Trust reported earnings per share of $0.15 during the same quarter last year, which would suggest a negative year over year growth rate of 6.7%. The firm is scheduled to announce its next earnings results before the market opens on Friday, August 4th.
According to Zacks, analysts expect that Cedar Realty Trust will report full-year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.53 to $0.54. For the next year, analysts expect that the business will post earnings of $0.56 per share, with EPS estimates ranging from $0.55 to $0.58. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last released its earnings results on Thursday, May 4th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.01. Cedar Realty Trust had a return on equity of 4.88% and a net margin of 12.74%. The firm had revenue of $36.77 million for the quarter, compared to the consensus estimate of $36.37 million. During the same period in the prior year, the firm earned $0.14 EPS. The firm’s revenue was down 3.9% on a year-over-year basis.
CDR has been the subject of a number of research reports. TheStreet raised shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a research report on Friday, May 5th. Zacks Investment Research raised shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Wednesday, March 22nd. ValuEngine cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, FBR & Co reissued an “outperform” rating and issued a $5.75 price target on shares of Cedar Realty Trust in a research report on Tuesday, July 11th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Cedar Realty Trust has an average rating of “Buy” and a consensus price target of $6.31.
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Cedar Realty Trust (NYSE CDR) opened at 5.20 on Monday. Cedar Realty Trust has a 52-week low of $4.70 and a 52-week high of $8.08. The company has a 50 day moving average price of $5.06 and a 200 day moving average price of $5.57. The firm has a market capitalization of $427.35 million, a P/E ratio of 113.04 and a beta of 0.89.
In other news, Director Paul G. Kirk, Jr. sold 9,759 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total value of $47,623.92. Following the completion of the sale, the director now directly owns 75,874 shares of the company’s stock, valued at $370,265.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.50% of the stock is owned by insiders.
Large investors have recently made changes to their positions in the stock. LSV Asset Management purchased a new stake in Cedar Realty Trust during the first quarter valued at approximately $264,000. Princeton Alpha Management LP increased its stake in Cedar Realty Trust by 218.2% in the first quarter. Princeton Alpha Management LP now owns 36,530 shares of the real estate investment trust’s stock valued at $183,000 after buying an additional 25,051 shares in the last quarter. HGI Capital Management LLC purchased a new stake in Cedar Realty Trust during the first quarter valued at approximately $628,000. DUPONT CAPITAL MANAGEMENT Corp purchased a new stake in Cedar Realty Trust during the first quarter valued at approximately $430,000. Finally, IndexIQ Advisors LLC increased its stake in Cedar Realty Trust by 12.6% in the first quarter. IndexIQ Advisors LLC now owns 88,527 shares of the real estate investment trust’s stock valued at $444,000 after buying an additional 9,903 shares in the last quarter. 98.13% of the stock is owned by institutional investors and hedge funds.
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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