Cedar Realty Trust Inc (CDR) Raised to Hold at 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 report published on Wednesday 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. “

CDR has been the topic of a number of other reports. KeyCorp lowered shares of Cedar Realty Trust to an overweight rating in a research report on Wednesday, December 21st. Raymond James Financial, Inc. reiterated a market perform rating on shares of Cedar Realty Trust in a research report on Monday, January 9th. TheStreet lowered shares of Cedar Realty Trust from a c rating to a d+ rating in a research report on Thursday, February 23rd. Finally, Robert W. Baird upgraded shares of Cedar Realty Trust from a neutral rating to an outperform rating and lowered their price objective for the company from $8.00 to $6.00 in a research report on Monday, March 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $6.94.

Shares of Cedar Realty Trust (NYSE:CDR) opened at 4.89 on Wednesday. The stock has a 50 day moving average of $5.60 and a 200-day moving average of $6.37. Cedar Realty Trust has a 12 month low of $4.86 and a 12 month high of $8.08. The firm’s market capitalization is $401.23 million.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings data on Thursday, February 23rd. The real estate investment trust reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.13. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The firm had revenue of $37.17 million for the quarter, compared to analyst estimates of $36.43 million. During the same period last year, the firm posted $0.14 EPS. Cedar Realty Trust’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Cedar Realty Trust will post $0.10 EPS for the current fiscal year.

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In related news, insider Bruce J. Schanzer bought 14,000 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were bought at an average cost of $4.99 per share, for a total transaction of $69,860.00. Following the transaction, the insider now owns 2,633,593 shares of the company’s stock, valued at $13,141,629.07. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce J. Schanzer bought 5,000 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were bought at an average price of $5.52 per share, for a total transaction of $27,600.00. Following the completion of the transaction, the insider now directly owns 2,626,593 shares in the company, valued at approximately $14,498,793.36. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 48,725 shares of company stock worth $259,086. 4.42% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Aperio Group LLC raised its stake in shares of Cedar Realty Trust by 11.5% in the third quarter. Aperio Group LLC now owns 71,631 shares of the real estate investment trust’s stock valued at $516,000 after buying an additional 7,368 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Cedar Realty Trust by 0.8% in the third quarter. Arizona State Retirement System now owns 39,283 shares of the real estate investment trust’s stock valued at $283,000 after buying an additional 300 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Cedar Realty Trust by 14.4% in the third quarter. First Trust Advisors LP now owns 39,743 shares of the real estate investment trust’s stock valued at $286,000 after buying an additional 5,004 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. raised its stake in shares of Cedar Realty Trust by 28.8% in the third quarter. Mizuho Trust & Banking Co. Ltd. now owns 18,698 shares of the real estate investment trust’s stock valued at $135,000 after buying an additional 4,178 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Cedar Realty Trust by 27.3% in the third quarter. Wells Fargo & Company MN now owns 32,825 shares of the real estate investment trust’s stock valued at $236,000 after buying an additional 7,039 shares during the last quarter. Institutional investors own 97.01% 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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