Cedar Realty Trust, Inc. (CDR) Earns “Hold” Rating from KeyCorp
Cedar Realty Trust, Inc. (NYSE:CDR)‘s stock had its “hold” rating reiterated by research analysts at KeyCorp in a research report issued to clients and investors on Friday. KeyCorp also issued estimates for Cedar Realty Trust’s FY2017 earnings at $0.45 EPS and FY2018 earnings at $0.57 EPS.
CDR has been the subject of a number of other reports. FBR & Co reaffirmed an “outperform” rating and issued a $5.75 price target on shares of Cedar Realty Trust in a research note on Tuesday, July 11th. Boenning Scattergood set a $5.00 price target on Cedar Realty Trust and gave the company a “sell” rating in a research note on Monday, August 7th. Zacks Investment Research cut Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. BidaskClub cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, ValuEngine raised Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $6.15.
Shares of Cedar Realty Trust (NYSE:CDR) traded down $0.03 during mid-day trading on Friday, hitting $5.75. The stock had a trading volume of 823,837 shares, compared to its average volume of 590,746. The company has a market cap of $525.07 million, a PE ratio of 10.32 and a beta of 0.93. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 1.61. Cedar Realty Trust has a one year low of $4.70 and a one year high of $6.79.
Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company 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 4.26% and a net margin of 11.42%. Cedar Realty Trust’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. analysts anticipate that Cedar Realty Trust will post 0.54 EPS for the current year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of CDR. UBS Asset Management Americas Inc. increased its stake in Cedar Realty Trust by 20.5% during the 1st quarter. UBS Asset Management Americas Inc. now owns 133,473 shares of the real estate investment trust’s stock worth $670,000 after purchasing an additional 22,717 shares in the last quarter. Karp Capital Management Corp bought a new stake in Cedar Realty Trust during the 1st quarter worth approximately $196,000. Ameriprise Financial Inc. increased its stake in Cedar Realty Trust by 10.4% during the 1st quarter. Ameriprise Financial Inc. now owns 435,056 shares of the real estate investment trust’s stock worth $2,184,000 after purchasing an additional 41,128 shares in the last quarter. Arizona State Retirement System increased its stake in Cedar Realty Trust by 1.3% during the 1st quarter. Arizona State Retirement System now owns 39,583 shares of the real estate investment trust’s stock worth $199,000 after purchasing an additional 500 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its stake in Cedar Realty Trust by 50.3% during the 1st quarter. OppenheimerFunds Inc. now owns 22,840 shares of the real estate investment trust’s stock worth $114,000 after purchasing an additional 7,648 shares in the last quarter. 92.23% of the stock is owned by institutional investors and hedge funds.
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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