Today, Cedar Realty Trust Inc. (CDR) Upgraded to Hold at The Zacks Investment Research

Today, Cedar Realty Trust Inc. (CDR) Upgraded to Hold at The Zacks Investment Research

Zacks Investment Research upgraded shares of Cedar Realty Trust Inc. (NYSE:CDR) from a sell rating to a hold rating in a research report released on Thursday morning.

According to Zacks, “Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of bread and butter supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company owns and operates shopping center properties which are anchored by supermarkets and/or drugstores. “

Separately, Wunderlich reduced their target price on shares of Cedar Realty Trust from $8.50 to $7.75 and set a buy rating for the company in a research note on Monday, November 7th.

Shares of Cedar Realty Trust (NYSE:CDR) opened at 6.54 on Thursday. The stock has a 50 day moving average of $6.65 and a 200 day moving average of $7.18. Cedar Realty Trust has a 52-week low of $5.92 and a 52-week high of $8.08. The firm’s market cap is $536.62 million.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, November 3rd. The real estate investment trust reported $0.15 EPS for the quarter, topping the consensus estimate of $0.14 by $0.01. The business earned $37.79 million during the quarter, compared to analysts’ expectations of $37.33 million. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company posted $0.14 earnings per share. Equities analysts predict that Cedar Realty Trust will post ($0.05) EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 11th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date was Tuesday, November 8th. Cedar Realty Trust’s dividend payout ratio (DPR) is presently -666.44%.

In other Cedar Realty Trust news, Director Abraham Eisenstat bought 5,000 shares of Cedar Realty Trust stock in a transaction on Tuesday, November 8th. The stock was purchased at an average cost of $6.21 per share, for a total transaction of $31,050.00. Following the completion of the purchase, the director now directly owns 41,782 shares of the company’s stock, valued at $259,466.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Philip Mays sold 25,000 shares of Cedar Realty Trust stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.50, for a total transaction of $187,500.00. Following the completion of the sale, the chief financial officer now owns 776,042 shares of the company’s stock, valued at $5,820,315. The disclosure for this sale can be found here. 4.42% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of CDR. California Public Employees Retirement System raised its position in Cedar Realty Trust by 17.9% in the second quarter. California Public Employees Retirement System now owns 295,700 shares of the real estate investment trust’s stock worth $2,197,000 after buying an additional 45,000 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Cedar Realty Trust during the second quarter worth approximately $126,000. Victory Capital Management Inc. raised its position in Cedar Realty Trust by 0.5% in the second quarter. Victory Capital Management Inc. now owns 155,415 shares of the real estate investment trust’s stock worth $1,155,000 after buying an additional 710 shares in the last quarter. Principal Financial Group Inc. raised its position in Cedar Realty Trust by 1.8% in the second quarter. Principal Financial Group Inc. now owns 548,761 shares of the real estate investment trust’s stock worth $4,078,000 after buying an additional 9,896 shares in the last quarter. Finally, Virginia Retirement Systems ET AL purchased a new position in Cedar Realty Trust during the second quarter worth approximately $571,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

About Cedar Realty Trust

Cedar Realty Trust, Inc is a real estate investment trust. The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. The Company focuses its investment activities on grocery-anchored shopping centers. It owns and manages a portfolio of approximately 60 operating properties, including approximately 30 properties in Pennsylvania; over eight properties in Massachusetts; approximately seven properties in Connecticut; over six properties in Maryland; approximately eight properties in Virginia; over three properties in New Jersey, and one property in New York.

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