Cedar Realty Trust (NYSE:CDR) posted its earnings results on Thursday. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.08), Fidelity Earnings reports. Cedar Realty Trust had a net margin of 13.08% and a return on equity of 4.79%. The business had revenue of $35.66 million for the quarter, compared to analysts’ expectations of $35.77 million. Cedar Realty Trust updated its FY 2019 guidance to $0.44-0.45 EPS.
Shares of NYSE CDR traded up $0.01 during mid-day trading on Friday, hitting $2.62. 421,715 shares of the stock traded hands, compared to its average volume of 380,094. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.58 and a current ratio of 0.58. Cedar Realty Trust has a 52 week low of $2.33 and a 52 week high of $4.74. The company has a market capitalization of $232.35 million, a P/E ratio of 4.52 and a beta of 0.87. The stock has a fifty day moving average of $2.60.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 9th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, August 8th. This represents a $0.20 annualized dividend and a dividend yield of 7.63%. Cedar Realty Trust’s dividend payout ratio is presently 34.48%.
In related news, insider Bruce J. Schanzer sold 10,000 shares of Cedar Realty Trust stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $3.14, for a total transaction of $31,400.00. Following the sale, the insider now directly owns 2,272,343 shares in the company, valued at $7,135,157.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.51% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in CDR. Millennium Management LLC boosted its holdings in Cedar Realty Trust by 68.7% in the fourth quarter. Millennium Management LLC now owns 1,101,047 shares of the real estate investment trust’s stock worth $3,457,000 after acquiring an additional 448,250 shares in the last quarter. D. E. Shaw & Co. Inc. bought a new stake in Cedar Realty Trust in the fourth quarter worth $1,352,000. FMR LLC boosted its holdings in Cedar Realty Trust by 8.6% in the fourth quarter. FMR LLC now owns 4,140,727 shares of the real estate investment trust’s stock worth $13,002,000 after acquiring an additional 328,844 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Cedar Realty Trust by 93.3% during the fourth quarter. Deutsche Bank AG now owns 350,921 shares of the real estate investment trust’s stock valued at $1,099,000 after purchasing an additional 169,384 shares in the last quarter. Finally, Shell Asset Management Co. bought a new position in shares of Cedar Realty Trust during the first quarter valued at $557,000. 89.60% of the stock is currently owned by institutional investors and hedge funds.
CDR has been the topic of several research reports. Zacks Investment Research lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. ValuEngine lowered Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st.
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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