Cedar Realty Trust (CDR) Price Target Cut to $6.00 by Analysts at Robert W. Baird

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.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by ($0.11). Cedar Realty Trust had a return on equity of 4.71% and a net margin of 13.11%. The company had revenue of $37.14 million during the quarter, compared to analyst estimates of $37.06 million. During the same period last year, the firm earned $0.14 earnings per share. The business’s revenue was down .1% compared to the same quarter last year. analysts forecast that Cedar Realty Trust will post 0.54 EPS for the current fiscal year.

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).

Analyst Recommendations for Cedar Realty Trust (NYSE:CDR)

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