Wall Street brokerages expect Cedar Realty Trust Inc (NYSE:CDR) to post $0.18 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have issued estimates for Cedar Realty Trust’s earnings. Cedar Realty Trust reported earnings per share of $0.14 in the same quarter last year, which suggests a positive year-over-year growth rate of 28.6%. The company is scheduled to issue its next earnings report on Friday, August 3rd.
According to Zacks, analysts expect that Cedar Realty Trust will report full year earnings of $0.58 per share for the current financial year, with EPS estimates ranging from $0.58 to $0.59. For the next year, analysts anticipate that the firm will post earnings of $0.56 per share, with EPS estimates ranging from $0.55 to $0.59. Zacks’ earnings per share calculations are an average based on a survey of research firms that that provide coverage for Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, May 3rd. The real estate investment trust reported ($0.26) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.29). The firm had revenue of $37.57 million during the quarter, compared to the consensus estimate of $36.83 million. Cedar Realty Trust had a negative return on equity of 2.28% and a negative net margin of 6.34%.
A number of equities analysts recently weighed in on CDR shares. ValuEngine upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday, June 1st. Zacks Investment Research upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, May 8th. Finally, Boenning Scattergood set a $4.00 target price on shares of Cedar Realty Trust and gave the stock a “sell” rating in a research report on Monday, May 7th. 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’s stock. The company has an average rating of “Hold” and an average target price of $5.55.
In related news, insider Bruce J. Schanzer sold 30,000 shares of the company’s stock in a transaction on Tuesday, June 19th. The shares were sold at an average price of $4.46, for a total transaction of $133,800.00. Following the completion of the transaction, the insider now owns 2,103,593 shares in the company, valued at $9,382,024.78. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.41% of the stock is currently owned by corporate insiders.
Large investors have recently modified their holdings of the stock. BlueCrest Capital Management Ltd bought a new position in Cedar Realty Trust during the fourth quarter valued at $102,000. Arrowstreet Capital Limited Partnership bought a new position in Cedar Realty Trust during the fourth quarter valued at $118,000. Stevens Capital Management LP bought a new position in Cedar Realty Trust during the first quarter valued at $124,000. Teacher Retirement System of Texas bought a new position in Cedar Realty Trust during the fourth quarter valued at $192,000. Finally, AMP Capital Investors Ltd lifted its position in Cedar Realty Trust by 127.3% during the fourth quarter. AMP Capital Investors Ltd now owns 31,839 shares of the real estate investment trust’s stock valued at $194,000 after purchasing an additional 17,829 shares during the last quarter. Hedge funds and other institutional investors own 93.67% of the company’s stock.
Cedar Realty Trust opened at $4.91 on Wednesday, according to Marketbeat.com. The company has a market capitalization of $398.38 million, a price-to-earnings ratio of 8.55 and a beta of 0.95. Cedar Realty Trust has a 1-year low of $3.54 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.02 and a quick ratio of 1.02.
About Cedar Realty Trust
Cedar Realty Trust, Inc is a fully-integrated real estate investment trust which focuses on the ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, DC to Boston. The Company's portfolio (excluding properties treated as "held for sale") comprises 59 properties, with approximately 8.7 million square feet of gross leasable area.
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