Cedar Realty Trust Inc. (NYSE:CDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Wednesday.
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. “
A number of other equities analysts have also weighed in on the company. Wunderlich lifted their price objective on Cedar Realty Trust from $8.00 to $8.50 and gave the company a “buy” rating in a research note on Monday, August 8th. Boenning Scattergood lowered Cedar Realty Trust from a “neutral” rating to an “underperform” rating and set a $6.50 price objective for the company. in a research note on Tuesday, June 28th.
Shares of Cedar Realty Trust (NYSE:CDR) traded down 3.01% during trading on Wednesday, reaching $6.76. The company had a trading volume of 391,792 shares. The company has a market capitalization of $554.69 million, a PE ratio of 120.71 and a beta of 1.10. The stock’s 50-day moving average price is $7.42 and its 200-day moving average price is $7.28. Cedar Realty Trust has a 52 week low of $6.31 and a 52 week high of $8.08.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, August 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.11. The business earned $37.87 million during the quarter, compared to analyst estimates of $37.74 million. Cedar Realty Trust had a return on equity of 4.94% and a net margin of 13.14%. The company’s revenue was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. On average, equities analysts expect that Cedar Realty Trust will post $0.03 EPS for the current fiscal year.
In related news, CFO Philip Mays sold 25,000 shares of Cedar Realty Trust stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $7.50, for a total value of $187,500.00. Following the completion of the transaction, the chief financial officer now owns 776,042 shares in the company, valued at approximately $5,820,315. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.42% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Mason Street Advisors LLC purchased a new stake in Cedar Realty Trust during the second quarter valued at about $109,000. Calvert Investment Management Inc. purchased a new stake in Cedar Realty Trust during the second quarter valued at about $2,163,000. Schwab Charles Investment Management Inc. boosted its stake in Cedar Realty Trust by 9.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 561,272 shares of the real estate investment trust’s stock valued at $4,171,000 after buying an additional 46,994 shares during the last quarter. Legal & General Group Plc boosted its stake in Cedar Realty Trust by 8.5% in the second quarter. Legal & General Group Plc now owns 173,167 shares of the real estate investment trust’s stock valued at $1,285,000 after buying an additional 13,623 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Cedar Realty Trust by 1.8% in the second quarter. Arizona State Retirement System now owns 38,983 shares of the real estate investment trust’s stock valued at $290,000 after buying an additional 700 shares during the last quarter. Institutional investors own 97.02% of the company’s stock.
Cedar Realty Trust Company Profile
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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