Cedar Realty Trust, Inc. Plans Quarterly Dividend of $0.05 (NYSE:CDR)
Cedar Realty Trust, Inc. (NYSE:CDR) announced a quarterly dividend on Friday, July 21st, Wall Street Journal reports. Investors of record on Friday, August 11th will be given a dividend of 0.05 per share by the real estate investment trust on Monday, August 21st. This represents a $0.20 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend is Wednesday, August 9th.
Cedar Realty Trust has a payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Cedar Realty Trust to earn $0.56 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 35.7%.
Cedar Realty Trust (CDR) traded up 0.39% during midday trading on Friday, reaching $5.12. 397,319 shares of the company traded hands. The firm has a 50-day moving average price of $5.06 and a 200-day moving average price of $5.44. Cedar Realty Trust has a one year low of $4.70 and a one year high of $8.08. The firm has a market capitalization of $420.77 million, a price-to-earnings ratio of 111.30 and a beta of 0.88.
Cedar Realty Trust (NYSE:CDR) last posted its earnings results on Thursday, May 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate 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 return on equity of 4.88% and a net margin of 12.74%. The company’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.14 EPS. Equities analysts predict that Cedar Realty Trust will post $0.12 EPS for the current fiscal year.
A number of research analysts have weighed in on CDR shares. Zacks Investment Research raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Friday, April 7th. FBR & Co reaffirmed an “outperform” rating and set a $5.75 target price on shares of Cedar Realty Trust in a report on Tuesday, July 11th. 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 four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $6.31.
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In other news, Director Paul G. Kirk, Jr. sold 9,759 shares of the business’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $4.88, for a total transaction of $47,623.92. Following the completion of the transaction, the director now owns 75,874 shares of the company’s stock, valued at $370,265.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.50% of the stock is currently owned by insiders.
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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