Zacks Investment Research upgraded shares of Cedar Realty Trust (NYSE:CDR) from a hold rating to a buy rating in a report released on Tuesday, December 19th. The brokerage currently has $7.00 price target on the real estate investment trust’s stock.
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. “
CDR has been the topic of a number of other research reports. Boenning Scattergood set a $5.00 target price on Cedar Realty Trust and gave the company a sell rating in a research report on Tuesday, November 28th. KeyCorp restated a hold rating on shares of Cedar Realty Trust in a report on Wednesday, October 4th. ValuEngine upgraded Cedar Realty Trust from a hold rating to a buy rating in a report on Monday, October 2nd. Raymond James Financial reiterated a hold rating on shares of Cedar Realty Trust in a report on Thursday, December 14th. Finally, B. Riley reiterated a buy rating on shares of Cedar Realty Trust in a report on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Cedar Realty Trust presently has an average rating of Hold and an average target price of $6.06.
Shares of Cedar Realty Trust (NYSE:CDR) traded down $0.12 during trading on Tuesday, hitting $5.38. 776,787 shares of the company traded hands, compared to its average volume of 567,473. The stock has a market cap of $502.24, a price-to-earnings ratio of -76.86 and a beta of 0.96. 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 has a 52-week low of $4.70 and a 52-week high of $6.36.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $36.40 million for the quarter, compared to analysts’ expectations of $35.31 million. Cedar Realty Trust had a net margin of 11.42% and a return on equity of 4.18%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $0.15 EPS. analysts anticipate that Cedar Realty Trust will post 0.55 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDR. LSV Asset Management grew its position in Cedar Realty Trust by 1,820.0% in the 2nd quarter. LSV Asset Management now owns 1,009,900 shares of the real estate investment trust’s stock valued at $4,898,000 after acquiring an additional 957,300 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in shares of Cedar Realty Trust during the second quarter worth about $3,684,000. Deprince Race & Zollo Inc. grew its position in shares of 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 buying an additional 663,014 shares in the last quarter. TIAA CREF Investment Management LLC grew its position in shares of Cedar Realty Trust by 144.3% during the second quarter. TIAA CREF Investment Management LLC now owns 561,367 shares of the real estate investment trust’s stock worth $2,723,000 after buying an additional 331,619 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of Cedar Realty Trust during the second quarter worth about $1,462,000. 92.64% of the stock is owned by institutional investors.
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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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