Cedar Realty Trust (NYSE:CDR) had its price target reduced by equities researchers at Robert W. Baird from $7.00 to $6.00 in a research note issued to investors on Monday. The firm currently has an “outperform” rating on the real estate investment trust’s stock. Robert W. Baird’s price target would suggest a potential upside of 40.52% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. 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 report on Tuesday, December 19th. ValuEngine upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Friday, December 15th. B. Riley reiterated a “buy” rating on shares of Cedar Realty Trust in a research note on Wednesday, November 1st. TheStreet lowered Cedar Realty Trust from a “c” rating to a “d+” rating in a research note on Thursday. Finally, KeyCorp reiterated a “hold” rating on shares of Cedar Realty Trust in a research note on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.75.
Cedar Realty Trust (NYSE:CDR) traded down $0.24 during midday trading on Monday, hitting $4.27. The stock had a trading volume of 951,113 shares, compared to its average volume of 565,938. Cedar Realty Trust has a 12 month low of $4.20 and a 12 month high of $6.34. The firm has a market capitalization of $391.75, a PE ratio of -107.25 and a beta of 0.75. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.72 and a current ratio of 1.00.
Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Cedar Realty Trust by 60.4% in the second quarter. Goldman Sachs Group Inc. now owns 501,289 shares of the real estate investment trust’s stock valued at $2,431,000 after purchasing an additional 188,689 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Cedar Realty Trust by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,213,260 shares of the real estate investment trust’s stock valued at $5,885,000 after purchasing an additional 62,150 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in Cedar Realty Trust by 7.1% in the third 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 purchasing an additional 53,665 shares during the last quarter. FNY Partners Fund LP acquired a new position in Cedar Realty Trust in the third quarter valued at $490,000. Finally, Deprince Race & Zollo Inc. increased its stake in Cedar Realty Trust by 36.2% during the third quarter. Deprince Race & Zollo Inc. now owns 2,495,693 shares of the real estate investment trust’s stock worth $14,026,000 after acquiring an additional 663,014 shares during the last quarter. Hedge funds and other institutional investors own 95.05% of the company’s stock.
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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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