Cedar Realty Trust (NYSE:CDR) released its earnings results on Thursday. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.10, Fidelity Earnings reports. The firm had revenue of $36.17 million during the quarter, compared to analyst estimates of $36.41 million. Cedar Realty Trust had a return on equity of 1.20% and a net margin of 3.25%.
Cedar Realty Trust stock traded down $0.13 during midday trading on Friday, reaching $3.63. The company’s stock had a trading volume of 8,837 shares, compared to its average volume of 345,124. Cedar Realty Trust has a fifty-two week low of $3.54 and a fifty-two week high of $6.29. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $354.81 million, a PE ratio of 6.69 and a beta of 0.74.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 20th. Shareholders of record on Friday, November 9th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Thursday, November 8th. Cedar Realty Trust’s dividend payout ratio is presently 36.36%.
In other Cedar Realty Trust news, CFO Philip Mays sold 25,000 shares of the firm’s 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 sale, the chief financial officer now directly owns 444,992 shares in the company, valued at $2,029,163.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.41% of the stock is owned by company insiders.
CDR has been the subject of a number of recent research reports. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Monday, July 9th. TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c-” rating in a research note on Friday, August 3rd. Finally, ValuEngine cut Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Cedar Realty Trust currently has an average rating of “Hold” and a consensus price target of $5.38.
Cedar Realty Trust Company Profile
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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