Brokerages Anticipate Cedar Realty Trust Inc (CDR) Will Announce Quarterly Sales of $36.79 Million

Analysts expect that Cedar Realty Trust Inc (NYSE:CDR) will report $36.79 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Cedar Realty Trust’s earnings, with the highest sales estimate coming in at $37.31 million and the lowest estimate coming in at $36.33 million. Cedar Realty Trust reported sales of $37.17 million in the same quarter last year, which indicates a negative year over year growth rate of 1%. The company is scheduled to announce its next earnings report on Thursday, February 22nd.

On average, analysts expect that Cedar Realty Trust will report full-year sales of $36.79 million for the current financial year, with estimates ranging from $144.30 million to $146.18 million. For the next year, analysts expect that the firm will post sales of $148.47 million per share, with estimates ranging from $144.07 million to $151.21 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that cover Cedar Realty Trust.

Cedar Realty Trust (NYSE:CDR) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. Cedar Realty Trust had a return on equity of 4.18% and a net margin of 11.42%. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $35.31 million. During the same period in the previous year, the business earned $0.15 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis.

Several brokerages have issued reports on CDR. Boenning Scattergood set a $5.00 price target on Cedar Realty Trust and gave the stock a “sell” rating in a research note on Tuesday, November 28th. KeyCorp reaffirmed a “hold” rating on shares of Cedar Realty Trust in a research note on Wednesday, October 4th. ValuEngine raised Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research raised Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $7.00 price target for the company in a research note on Tuesday, December 19th. Finally, Raymond James Financial reaffirmed a “hold” rating on shares of Cedar Realty Trust in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $6.06.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Crossmark Global Holdings Inc. bought a new stake in shares of Cedar Realty Trust in the 3rd quarter valued at about $100,000. Susquehanna International Group LLP bought a new stake in shares of Cedar Realty Trust in the 2nd quarter valued at about $103,000. Verition Fund Management LLC lifted its stake in shares of Cedar Realty Trust by 68.3% in the 2nd quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 9,097 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Cedar Realty Trust by 93.6% in the 3rd quarter. SG Americas Securities LLC now owns 24,776 shares of the real estate investment trust’s stock valued at $139,000 after acquiring an additional 11,981 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in shares of Cedar Realty Trust in the 3rd quarter valued at about $193,000. 92.64% of the stock is owned by institutional investors.

Cedar Realty Trust (NYSE CDR) traded up $0.08 during trading on Wednesday, reaching $6.16. The company had a trading volume of 640,300 shares, compared to its average volume of 766,750. Cedar Realty Trust has a twelve month low of $4.70 and a twelve month high of $6.79. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.72 and a current ratio of 0.72. The stock has a market capitalization of $555.21, a PE ratio of -88.00 and a beta of 0.96.

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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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