Cedar Realty Trust (CDR) Downgraded by Zacks Investment Research to Hold

Cedar Realty Trust (NYSE:CDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, November 29th.

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. “

A number of other research analysts have also weighed in on the company. Boenning Scattergood set a $5.00 target price on Cedar Realty Trust and gave the company a “sell” rating in a report on Tuesday, November 28th. B. Riley reiterated a “buy” rating on shares of Cedar Realty Trust in a report on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of Cedar Realty Trust in a report on Friday, November 3rd. ValuEngine upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, BidaskClub cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $5.94.

Shares of Cedar Realty Trust (NYSE:CDR) traded up $0.03 on Wednesday, hitting $6.08. The stock had a trading volume of 424,342 shares, compared to its average volume of 715,083. Cedar Realty Trust has a 52 week low of $4.70 and a 52 week high of $6.79. The company has a market capitalization of $552.47, a P/E ratio of 10.80 and a beta of 0.97. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.49.

Cedar Realty Trust (NYSE:CDR) last released its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. Cedar Realty Trust had a return on equity of 4.18% and a net margin of 11.42%. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $35.31 million. During the same quarter last year, the firm posted $0.15 earnings per share. The firm’s revenue was down 3.7% on a year-over-year basis. research analysts predict that Cedar Realty Trust will post 0.55 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Cedar Realty Trust by 9.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 729,269 shares of the real estate investment trust’s stock valued at $3,537,000 after acquiring an additional 64,425 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Cedar Realty Trust by 60.4% in the 2nd quarter. Goldman Sachs Group Inc. now owns 501,289 shares of the real estate investment trust’s stock valued at $2,431,000 after acquiring an additional 188,689 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Cedar Realty Trust by 5.4% during the 2nd 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. Brandywine Global Investment Management LLC bought a new position in Cedar Realty Trust during the 2nd quarter valued at approximately $3,684,000. Finally, Deprince Race & Zollo Inc. raised its position in Cedar Realty Trust by 36.2% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 2,495,693 shares of the real estate investment trust’s stock valued at $14,026,000 after purchasing an additional 663,014 shares during the last quarter. Hedge funds and other institutional investors own 92.67% 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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