Cedar Realty Trust, Inc. Plans Quarterly Dividend of $0.05 (CDR)

Cedar Realty Trust, Inc. (NYSE:CDR) declared a quarterly dividend on Wednesday, October 18th, Wall Street Journal reports. Shareholders of record on Friday, November 10th will be given a dividend of 0.05 per share by the real estate investment trust on Monday, November 20th. This represents a $0.20 annualized dividend and a yield of 3.65%. The ex-dividend date is Thursday, November 9th.

Cedar Realty Trust has a payout ratio of 37.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cedar Realty Trust to earn $0.11 per share next year, which means the company may not be able to cover its $0.20 annual dividend with an expected future payout ratio of 181.8%.

Cedar Realty Trust (NYSE CDR) traded down 1.79% during trading on Friday, reaching $5.48. The company’s stock had a trading volume of 421,754 shares. Cedar Realty Trust has a 52-week low of $4.70 and a 52-week high of $6.81. The firm has a 50 day moving average price of $5.47 and a 200-day moving average price of $5.22. The stock’s market cap is $450.44 million.

Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings data on Friday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. The firm had revenue of $35.70 million during the quarter, compared to analysts’ expectations of $35.97 million. During the same quarter in the previous year, the firm earned $0.15 earnings per share. Cedar Realty Trust’s revenue was down 5.7% on a year-over-year basis. On average, analysts expect that Cedar Realty Trust will post $0.06 earnings per share for the current year.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. KeyCorp reissued a “hold” rating on shares of Cedar Realty Trust in a research report on Wednesday, October 4th. FBR & Co reaffirmed an “outperform” rating and issued a $5.75 target price on shares of Cedar Realty Trust in a report on Tuesday, July 11th. ValuEngine raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, BidaskClub downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $6.15.

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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).

Dividend History for Cedar Realty Trust (NYSE:CDR)

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