Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, January 12th. The firm currently has a $6.00 price objective on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 24.22% 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. “
Several other research analysts also recently issued reports on CDR. B. Riley reissued a “buy” rating on shares of Cedar Realty Trust in a research report on Wednesday, November 1st. KeyCorp restated 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. Boenning Scattergood restated a “sell” rating and issued a $4.50 target price on shares of Cedar Realty Trust in a research note on Monday, November 6th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Cedar Realty Trust in a research note on Thursday, December 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $5.81.
Shares of Cedar Realty Trust (NYSE:CDR) opened at $4.83 on Friday. Cedar Realty Trust has a fifty-two week low of $4.70 and a fifty-two week high of $6.34. The firm has a market cap of $441.06, a price-to-earnings ratio of 8.63 and a beta of 0.75. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.72 and a quick ratio of 0.72.
Cedar Realty Trust (NYSE:CDR) last posted its earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 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 posted $0.15 EPS. The company’s revenue was down 3.7% on a year-over-year basis. sell-side analysts anticipate that Cedar Realty Trust will post 0.55 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in CDR. Bank of New York Mellon Corp raised its position in Cedar Realty Trust by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 1,218,993 shares of the real estate investment trust’s stock worth $5,911,000 after acquiring an additional 25,984 shares during the last quarter. Legal & General Group Plc raised its position in Cedar Realty Trust by 3.9% during the second quarter. Legal & General Group Plc now owns 338,712 shares of the real estate investment trust’s stock worth $1,643,000 after acquiring an additional 12,701 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Cedar Realty Trust by 15.0% during the second quarter. BNP Paribas Arbitrage SA now owns 55,263 shares of the real estate investment trust’s stock worth $268,000 after acquiring an additional 7,201 shares during the last quarter. Marshall Wace North America L.P. acquired a new position in Cedar Realty Trust during the second quarter worth about $199,000. Finally, Principal Financial Group Inc. raised its position in Cedar Realty Trust by 0.4% during the second quarter. Principal Financial Group Inc. now owns 593,775 shares of the real estate investment trust’s stock worth $2,879,000 after acquiring an additional 2,450 shares during the last quarter. Institutional investors own 92.96% 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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