Cedar Realty Trust, Inc. (CDR) Announces Quarterly Earnings Results
Cedar Realty Trust, Inc. (NYSE:CDR) released its quarterly earnings data on Wednesday. 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, Bloomberg Earnings reports. The firm had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $35.31 million. Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. Cedar Realty Trust’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, November 9th. This represents a $0.20 annualized dividend and a yield of Infinity. Cedar Realty Trust’s dividend payout ratio (DPR) is presently -333.28%.
Several research firms have weighed in on CDR. Zacks Investment Research lowered Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Cedar Realty Trust in a report on Wednesday, October 4th. FBR & Co reissued an “outperform” rating and issued a $5.75 target price on shares of Cedar Realty Trust in a report on Tuesday, July 11th. ValuEngine raised Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. Cedar Realty Trust currently has an average rating of “Hold” and an average target price of $6.15.
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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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