BlackRock Inc. boosted its position in shares of Cedar Realty Trust Inc (NYSE:CDR) by 0.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,163,043 shares of the real estate investment trust’s stock after purchasing an additional 73,036 shares during the quarter. BlackRock Inc. owned about 13.34% of Cedar Realty Trust worth $57,409,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CDR. Municipal Employees Retirement System of Michigan increased its holdings in Cedar Realty Trust by 40.5% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 43,710 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 12,600 shares during the period. Element Capital Management LLC purchased a new position in Cedar Realty Trust during the 1st quarter worth $210,000. Jane Street Group LLC increased its holdings in Cedar Realty Trust by 408.7% during the 1st quarter. Jane Street Group LLC now owns 56,818 shares of the real estate investment trust’s stock worth $224,000 after purchasing an additional 45,648 shares during the period. SG Americas Securities LLC increased its holdings in shares of Cedar Realty Trust by 395.5% in the 2nd quarter. SG Americas Securities LLC now owns 74,070 shares of the real estate investment trust’s stock valued at $350,000 after acquiring an additional 59,121 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of Cedar Realty Trust by 18.5% in the 1st quarter. New York State Common Retirement Fund now owns 92,100 shares of the real estate investment trust’s stock valued at $363,000 after acquiring an additional 14,400 shares during the period. Institutional investors own 92.91% of the company’s stock.
In other news, CFO Philip Mays sold 25,000 shares of Cedar Realty Trust stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $4.56, for a total value of $114,000.00. Following the transaction, the chief financial officer now directly owns 444,992 shares in the company, valued at approximately $2,029,163.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 4.41% of the company’s stock.
CDR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.00 price target on the stock in a report on Monday, July 9th. TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c-” rating in a report on Friday, August 3rd. Finally, ValuEngine upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Thursday, July 5th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Cedar Realty Trust has a consensus rating of “Hold” and a consensus target price of $5.38.
Shares of NYSE:CDR opened at $3.97 on Friday. Cedar Realty Trust Inc has a 12-month low of $3.54 and a 12-month high of $6.29. The firm has a market capitalization of $425.05 million, a PE ratio of 7.29 and a beta of 0.74. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.54.
Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). Cedar Realty Trust had a net margin of 3.25% and a return on equity of 1.20%. The company had revenue of $41.35 million during the quarter, compared to analysts’ expectations of $40.59 million. On average, equities research analysts forecast that Cedar Realty Trust Inc will post 0.59 EPS for the current year.
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 58 properties, with approximately 8.7 million square feet of gross leasable area.
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