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.
COPYRIGHT VIOLATION WARNING: “Cedar Realty Trust, Inc. Plans Quarterly Dividend of $0.05 (CDR)” was originally reported by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are viewing this report on another domain, it was illegally copied and republished in violation of U.S. & international trademark & copyright law. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/10/27/cedar-realty-trust-inc-cdr-announces-0-05-quarterly-dividend.html.
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).
Receive News & Ratings for Cedar Realty Trust Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Realty Trust Inc. and related companies with MarketBeat.com's FREE daily email newsletter.