Cedar Realty Trust, Inc. (NYSE:CDR) Scheduled to Post Quarterly Earnings on Friday
Cedar Realty Trust, Inc. (NYSE:CDR) is set to announce its earnings results on Friday, August 4th. Analysts expect the company to announce earnings of $0.03 per share for the quarter. Cedar Realty Trust has set its FY17 guidance at $0.53-0.55 EPS.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, May 4th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The firm had revenue of $36.77 million for the quarter, compared to analyst estimates of $36.37 million. Cedar Realty Trust had a net margin of 12.74% and a return on equity of 4.88%. The firm’s quarterly revenue was down 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.14 earnings per share. On average, analysts expect Cedar Realty Trust to post $0.12 EPS for the current fiscal year and $0.12 EPS for the next fiscal year.
Cedar Realty Trust, Inc. (NYSE CDR) opened at 5.34 on Friday. The firm has a 50-day moving average of $5.06 and a 200 day moving average of $5.39. The firm has a market cap of $438.85 million, a price-to-earnings ratio of 116.09 and a beta of 0.88. Cedar Realty Trust, Inc. has a 52-week low of $4.70 and a 52-week high of $8.08.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.20 annualized dividend and a yield of 3.75%. Cedar Realty Trust’s dividend payout ratio is currently 400.00%.
In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total value of $47,623.92. Following the sale, the director now directly owns 75,874 shares in the company, valued at $370,265.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.
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Several brokerages recently weighed in on CDR. Zacks Investment Research upgraded shares of Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a report on Wednesday, July 5th. TheStreet upgraded shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a report on Friday, May 5th. FBR & Co restated an “outperform” rating and issued a $5.75 price objective on shares of Cedar Realty Trust in a report on Tuesday, July 11th. Finally, ValuEngine lowered shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $6.31.
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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