Cedar Realty Trust, Inc. (NYSE:CDR) Price Target Increased to $6.25 by Analysts at FBR & Co
Cedar Realty Trust, Inc. (NYSE:CDR) had its target price upped by equities researchers at FBR & Co from $5.75 to $6.25 in a research note issued on Tuesday. The firm presently has an “outperform” rating on the real estate investment trust’s stock. FBR & Co’s target price indicates a potential upside of 17.70% from the stock’s previous close.
Several other brokerages have also recently issued reports on CDR. TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c” rating in a report on Friday, May 5th. Zacks Investment Research upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. ValuEngine cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Finally, Boenning Scattergood set a $5.00 target price on Cedar Realty Trust and gave the company a “sell” rating in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.15.
Shares of Cedar Realty Trust (NYSE:CDR) opened at 5.31 on Tuesday. Cedar Realty Trust has a 12 month low of $4.70 and a 12 month high of $7.98. The company has a 50-day moving average price of $5.06 and a 200-day moving average price of $5.35. The company has a market capitalization of $436.39 million, a P/E ratio of 115.43 and a beta of 0.89.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings results on Friday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.24. Cedar Realty Trust had a return on equity of 2.48% and a net margin of 6.58%. The firm had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $35.97 million. During the same quarter in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue for the quarter was down 5.7% compared to the same quarter last year. On average, analysts forecast that Cedar Realty Trust will post $0.12 EPS for the current fiscal year.
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In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was 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 in the company, valued at approximately $370,265.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 4.50% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Cedar Realty Trust by 6.2% in the first quarter. Vanguard Group Inc. now owns 10,857,885 shares of the real estate investment trust’s stock worth $54,507,000 after buying an additional 630,915 shares in the last quarter. BlackRock Fund Advisors boosted its position in Cedar Realty Trust by 11.0% in the third quarter. BlackRock Fund Advisors now owns 5,759,529 shares of the real estate investment trust’s stock worth $41,469,000 after buying an additional 570,609 shares in the last quarter. State Street Corp boosted its position in Cedar Realty Trust by 6.6% in the first quarter. State Street Corp now owns 3,143,559 shares of the real estate investment trust’s stock worth $15,785,000 after buying an additional 193,877 shares in the last quarter. Renaissance Technologies LLC boosted its position in Cedar Realty Trust by 8.3% in the first quarter. Renaissance Technologies LLC now owns 2,351,100 shares of the real estate investment trust’s stock worth $16,998,000 after buying an additional 181,100 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in Cedar Realty Trust by 111.6% in the first quarter. Nuveen Asset Management LLC now owns 2,302,592 shares of the real estate investment trust’s stock worth $16,648,000 after buying an additional 1,214,160 shares in the last quarter. Institutional investors and hedge funds own 97.45% 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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