Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
According to Zacks, “Cedar Realty Trust, Inc. is a real estate investment trust which owns a portfolio of predominantly grocery-anchored shopping centers in high-density urban markets from D.C. to Boston. Cedar Realty Trust Inc, formerly known as Cedar Shopn Ctr, is based in Port Washington, NY. “
CDR has been the topic of several other research reports. ValuEngine raised shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. B. Riley reaffirmed a “buy” rating on shares of Cedar Realty Trust in a research report on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. Cedar Realty Trust presently has a consensus rating of “Hold” and a consensus target price of $5.38.
Shares of NYSE CDR opened at $3.44 on Tuesday. Cedar Realty Trust has a fifty-two week low of $3.34 and a fifty-two week high of $6.29. The stock has a market capitalization of $327.44 million, a P/E ratio of 6.25 and a beta of 0.89. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.52.
Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.10. Cedar Realty Trust had a net margin of 3.16% and a return on equity of 1.17%. The business had revenue of $36.17 million for the quarter, compared to analysts’ expectations of $36.41 million. As a group, sell-side analysts expect that Cedar Realty Trust will post 0.58 earnings per share for the current year.
In other news, insider Bruce J. Schanzer bought 10,840 shares of the company’s stock in a transaction on Tuesday, November 27th. The shares were purchased at an average price of $3.40 per share, with a total value of $36,856.00. Following the transaction, the insider now directly owns 2,111,393 shares in the company, valued at $7,178,736.20. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 4.41% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of CDR. Sterling Capital Management LLC bought a new position in shares of Cedar Realty Trust during the 2nd quarter worth approximately $159,000. Metropolitan Life Insurance Co. NY lifted its position in shares of Cedar Realty Trust by 44.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 42,310 shares of the real estate investment trust’s stock worth $200,000 after buying an additional 13,120 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its position in shares of 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 buying an additional 12,600 shares in the last quarter. State of Alaska Department of Revenue lifted its position in shares of Cedar Realty Trust by 112.9% during the 3rd quarter. State of Alaska Department of Revenue now owns 54,097 shares of the real estate investment trust’s stock worth $251,000 after buying an additional 28,687 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado lifted its position in shares of Cedar Realty Trust by 90.9% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 63,539 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 30,249 shares in the last quarter. 91.83% of the stock is currently owned by hedge funds and other institutional investors.
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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