Cedar Realty Trust Inc. (NYSE:CDR) had its price target decreased by equities research analysts at Wunderlich from $8.50 to $7.75 in a research note issued on Monday. The firm presently has a “buy” rating on the real estate investment trust’s stock. Wunderlich’s target price suggests a potential upside of 17.07% from the company’s previous close.
Separately, Zacks Investment Research raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $8.50 target price for the company in a report on Monday, August 8th.
Cedar Realty Trust (NYSE:CDR) opened at 6.62 on Monday. Cedar Realty Trust has a 12-month low of $5.92 and a 12-month high of $8.08. The company’s market cap is $543.18 million. The firm’s 50 day moving average is $6.66 and its 200 day moving average is $7.18.
Cedar Realty Trust (NYSE:CDR) last issued its earnings results on Thursday, November 3rd. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The firm earned $37.79 million during the quarter, compared to analysts’ expectations of $37.33 million. During the same quarter last year, the company posted $0.14 earnings per share. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts anticipate that Cedar Realty Trust will post ($0.05) EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 11th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 3.02%. Cedar Realty Trust’s payout ratio is -666.44%.
In other news, Director Abraham Eisenstat acquired 10,000 shares of the business’s stock in a transaction on Monday, November 7th. The stock was bought at an average price of $6.29 per share, with a total value of $62,900.00. Following the completion of the acquisition, the director now owns 36,782 shares of the company’s stock, valued at $231,358.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bruce J. Schanzer acquired 5,000 shares of the business’s stock in a transaction on Monday, November 7th. The stock was purchased at an average cost of $6.30 per share, with a total value of $31,500.00. Following the acquisition, the insider now directly owns 2,619,593 shares of the company’s stock, valued at approximately $16,503,435.90. The disclosure for this purchase can be found here. 4.42% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CDR. SG Americas Securities LLC purchased a new position in Cedar Realty Trust during the third quarter worth $103,000. Mizuho Trust & Banking Co. Ltd. boosted its position in Cedar Realty Trust by 5.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 14,520 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 696 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Cedar Realty Trust during the second quarter worth $109,000. Guggenheim Capital LLC boosted its position in Cedar Realty Trust by 10.5% in the second quarter. Guggenheim Capital LLC now owns 14,684 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,393 shares during the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Cedar Realty Trust during the second quarter worth $126,000. 95.39% of the stock is owned by institutional investors.
About Cedar Realty Trust