Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Monday. The brokerage presently has a $6.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 9.69% from the stock’s current price.
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. “
CDR has been the subject of several other research reports. Boenning Scattergood set a $5.00 price target on Cedar Realty Trust and gave the company a “sell” rating in a research note on Tuesday, November 28th. KeyCorp reissued 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. Raymond James Financial reissued a “hold” rating on shares of Cedar Realty Trust in a research note on Thursday, December 14th. Finally, B. Riley reissued a “buy” rating on shares of Cedar Realty Trust in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $5.81.
Cedar Realty Trust (NYSE:CDR) last issued its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.01. The company had revenue of $36.40 million for the quarter, compared to the consensus estimate of $35.31 million. Cedar Realty Trust had a return on equity of 4.18% and a net margin of 11.42%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. equities analysts predict that Cedar Realty Trust will post 0.55 earnings per share for the current year.
Several hedge funds and other institutional investors have recently made changes to their positions in CDR. JPMorgan Chase & Co. boosted its position in Cedar Realty Trust by 9.7% during the second quarter. JPMorgan Chase & Co. now owns 729,269 shares of the real estate investment trust’s stock worth $3,537,000 after purchasing an additional 64,425 shares during the period. Goldman Sachs Group Inc. boosted its position in Cedar Realty Trust by 60.4% during the second quarter. Goldman Sachs Group Inc. now owns 501,289 shares of the real estate investment trust’s stock worth $2,431,000 after purchasing an additional 188,689 shares during the period. Dimensional Fund Advisors LP boosted its position in Cedar Realty Trust by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,213,260 shares of the real estate investment trust’s stock worth $5,885,000 after purchasing an additional 62,150 shares during the period. FNY Partners Fund LP bought a new stake in Cedar Realty Trust during the third quarter worth approximately $490,000. Finally, Brandywine Global Investment Management LLC bought a new stake in Cedar Realty Trust during the second quarter worth approximately $3,684,000. 92.63% 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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