Q3 2018 Earnings Forecast for Cedar Realty Trust, Inc. (CDR) Issued By Boenning Scattergood
Cedar Realty Trust, Inc. (NYSE:CDR) – Stock analysts at Boenning Scattergood dropped their Q3 2018 earnings estimates for shares of Cedar Realty Trust in a note issued to investors on Monday. Boenning Scattergood analyst F. Van. Dijkum now anticipates that the real estate investment trust will post earnings per share of $0.13 for the quarter, down from their previous forecast of $0.14. Boenning Scattergood has a “Sell” rating and a $5.00 price target on the stock.
Several other brokerages also recently issued reports on CDR. FBR & Co raised their price objective on shares of Cedar Realty Trust from $5.75 to $6.25 and gave the stock an “outperform” rating in a research note on Tuesday. ValuEngine downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Monday, July 10th. BidaskClub upgraded shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, TheStreet upgraded shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a research note on Friday, May 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $6.15.
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Cedar Realty Trust (NYSE CDR) traded up 1.69% during mid-day trading on Tuesday, reaching $5.40. 145,581 shares of the company traded hands. The company has a market capitalization of $443.78 million, a P/E ratio of 117.39 and a beta of 0.89. Cedar Realty Trust has a 52-week low of $4.70 and a 52-week high of $7.98. The stock has a 50 day moving average price of $5.06 and a 200-day moving average price of $5.35.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results 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 company had revenue of $35.70 million during the quarter, compared to analyst estimates of $35.97 million. Cedar Realty Trust had a net margin of 6.58% and a return on equity of 2.48%. The company’s revenue was down 5.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.15 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.20 dividend on an annualized basis and a yield of 3.77%. Cedar Realty Trust’s dividend payout ratio is currently -333.28%.
In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of Cedar Realty Trust stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total transaction of $47,623.92. Following the sale, the director now owns 75,874 shares in the company, valued at $370,265.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of CDR. Independent Portfolio Consultants Inc. increased its stake in 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 in the last quarter. OppenheimerFunds Inc. increased its stake in Cedar Realty Trust by 50.3% in the first quarter. OppenheimerFunds Inc. now owns 22,840 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 7,648 shares in the last quarter. Credit Agricole S A increased its stake in Cedar Realty Trust by 69.0% in the first quarter. Credit Agricole S A now owns 24,425 shares of the real estate investment trust’s stock worth $123,000 after buying an additional 9,970 shares in the last quarter. Bank of Montreal Can increased its stake in Cedar Realty Trust by 2.1% in the first quarter. Bank of Montreal Can now owns 24,850 shares of the real estate investment trust’s stock worth $125,000 after buying an additional 504 shares in the last quarter. Finally, Louisiana State Employees Retirement System increased its stake in Cedar Realty Trust by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 31,000 shares of the real estate investment trust’s stock worth $156,000 after buying an additional 500 shares in the last quarter. 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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