Cedar Realty Trust, Inc. (CDR) Earns Sell Rating from Boenning Scattergood
Cedar Realty Trust, Inc. (NYSE:CDR)‘s stock had its “sell” rating restated by analysts at Boenning Scattergood in a report released on Monday. They presently have a $4.50 target price on the real estate investment trust’s stock. Boenning Scattergood’s target price points to a potential downside of 14.77% from the company’s current price.
Several other brokerages have also issued reports on CDR. Zacks Investment Research raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. TheStreet raised Cedar Realty Trust from a “d+” rating to a “c” rating in a report on Friday, May 5th. BidaskClub raised Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. ValuEngine lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, FBR & Co reissued an “outperform” rating and set a $5.75 price target on shares of Cedar Realty Trust in a report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $5.95.
Shares of Cedar Realty Trust (NYSE:CDR) opened at 5.28 on Monday. The firm’s 50-day moving average price is $5.06 and its 200-day moving average price is $5.35. The firm has a market cap of $433.92 million, a PE ratio of 114.78 and a beta of 0.89. Cedar Realty Trust has a 12 month low of $4.70 and a 12 month high of $7.98.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Friday, August 4th. The real estate investment trust reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.24. The firm had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $35.97 million. Cedar Realty Trust had a return on equity of 2.48% and a net margin of 6.58%. The business’s revenue for the quarter was down 5.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. Analysts expect that Cedar Realty Trust will post $0.12 earnings per share for the current year.
In related news, Director Paul G. Kirk, Jr. sold 9,759 shares of the firm’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 owns 75,874 shares in the company, valued at $370,265.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in CDR. Independent Portfolio Consultants Inc. increased its stake 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 during the last quarter. Great West Life Assurance Co. Can increased its stake in shares of Cedar Realty Trust by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 138,180 shares of the real estate investment trust’s stock worth $693,000 after buying an additional 386 shares during the last quarter. Citadel Advisors LLC increased its stake in shares of Cedar Realty Trust by 589.9% in the first quarter. Citadel Advisors LLC now owns 193,701 shares of the real estate investment trust’s stock worth $972,000 after buying an additional 165,625 shares during the last quarter. Norges Bank purchased a new stake in shares of Cedar Realty Trust during the fourth quarter worth approximately $6,764,000. Finally, Stevens Capital Management LP purchased a new stake in shares of Cedar Realty Trust during the first quarter worth approximately $167,000. Hedge funds and other institutional investors own 97.45% of the company’s stock.
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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