Cedar Realty Trust (CDR) Upgraded to Buy at Zacks Investment Research

Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage currently has a $7.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 15.51% from the company’s previous close.

According to Zacks, “Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of bread and butter supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company owns and operates shopping center properties which are anchored by supermarkets and/or drugstores. “

Several other equities analysts also recently weighed in on the company. ValuEngine raised Cedar Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Raymond James Financial reissued a “hold” rating on shares of Cedar Realty Trust in a research report on Thursday, December 14th. Boenning Scattergood set a $5.00 target price on Cedar Realty Trust and gave the company a “sell” rating in a research report on Tuesday, November 28th. B. Riley reissued a “buy” rating on shares of Cedar Realty Trust in a research report on Wednesday, November 1st. Finally, KeyCorp reissued a “hold” rating on shares of Cedar Realty Trust in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the stock. Cedar Realty Trust has an average rating of “Hold” and an average target price of $6.06.

Cedar Realty Trust (CDR) traded down $0.10 during trading hours on Wednesday, reaching $6.06. The company’s stock had a trading volume of 249,248 shares, compared to its average volume of 444,750. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.49. Cedar Realty Trust has a 1-year low of $4.70 and a 1-year high of $6.79. The company has a market cap of $553.38, a P/E ratio of -86.57 and a beta of 0.96.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ 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 for the quarter, compared to the consensus estimate of $35.31 million. During the same quarter in the previous year, the company posted $0.15 EPS. The company’s revenue was down 3.7% compared to the same quarter last year. equities research analysts expect that Cedar Realty Trust will post 0.55 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GSA Capital Partners LLP boosted its holdings in Cedar Realty Trust by 49.5% during the 3rd quarter. GSA Capital Partners LLP now owns 123,661 shares of the real estate investment trust’s stock valued at $695,000 after acquiring an additional 40,929 shares during the period. California Public Employees Retirement System boosted its holdings in Cedar Realty Trust by 9.2% during the 3rd quarter. California Public Employees Retirement System now owns 262,582 shares of the real estate investment trust’s stock valued at $1,476,000 after acquiring an additional 22,082 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Cedar Realty Trust by 4.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,262,124 shares of the real estate investment trust’s stock valued at $7,093,000 after acquiring an additional 48,864 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in Cedar Realty Trust by 7.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 811,146 shares of the real estate investment trust’s stock valued at $4,559,000 after acquiring an additional 53,665 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Cedar Realty Trust by 55.2% during the 3rd quarter. Wells Fargo & Company MN now owns 92,012 shares of the real estate investment trust’s stock valued at $517,000 after acquiring an additional 32,732 shares during the period. Institutional investors own 92.64% of the company’s stock.

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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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