Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday. The brokerage currently has a $7.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s target price suggests a potential upside of 18.04% from the stock’s previous close.
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 equities analysts also recently issued reports on CDR. B. Riley reiterated a “buy” rating on shares of Cedar Realty Trust in a research note on Wednesday, November 1st. KeyCorp reiterated a “hold” rating on shares of Cedar Realty Trust in a research note on Wednesday, October 4th. ValuEngine upgraded shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Raymond James Financial reiterated a “hold” rating on shares of Cedar Realty Trust in a research note on Thursday, December 14th. Finally, Boenning Scattergood reiterated a “sell” rating and set a $4.50 price objective on shares of Cedar Realty Trust in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $6.06.
Cedar Realty Trust (CDR) traded down $0.13 during midday trading on Wednesday, hitting $5.93. 786,600 shares of the stock were exchanged, compared to its average volume of 558,700. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.49. Cedar Realty Trust has a 1 year low of $4.70 and a 1 year high of $6.72. The company has a market capitalization of $553.38, a P/E ratio of -84.71 and a beta of 0.96.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.01. Cedar Realty Trust had a net margin of 11.42% and a return on equity of 4.18%. The firm had revenue of $36.40 million for the quarter, compared to the consensus estimate of $35.31 million. During the same period last year, the firm earned $0.15 earnings per share. The company’s quarterly revenue was down 3.7% on a year-over-year basis. equities research analysts expect that Cedar Realty Trust will post 0.55 earnings per share for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Arizona State Retirement System boosted its stake in Cedar Realty Trust by 0.3% in the second quarter. Arizona State Retirement System now owns 39,683 shares of the real estate investment trust’s stock valued at $192,000 after acquiring an additional 100 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Cedar Realty Trust by 1.7% in the second quarter. Wells Fargo & Company MN now owns 59,280 shares of the real estate investment trust’s stock valued at $288,000 after acquiring an additional 1,012 shares in the last quarter. M&T Bank Corp boosted its stake in Cedar Realty Trust by 0.9% in the second quarter. M&T Bank Corp now owns 126,238 shares of the real estate investment trust’s stock valued at $613,000 after acquiring an additional 1,182 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Cedar Realty Trust by 0.4% in the second quarter. Principal Financial Group Inc. now owns 593,775 shares of the real estate investment trust’s stock valued at $2,879,000 after acquiring an additional 2,450 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Cedar Realty Trust by 4.5% in the second quarter. The Manufacturers Life Insurance Company now owns 71,816 shares of the real estate investment trust’s stock valued at $348,000 after acquiring an additional 3,115 shares in the last quarter. Institutional investors own 92.64% of the company’s stock.
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Cedar Realty Trust Company Profile
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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