Cedar Realty Trust (NYSE:CDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “Cedar Realty Trust, Inc. is a real estate investment trust which owns a portfolio of predominantly grocery-anchored shopping centers in high-density urban markets from D.C. to Boston. Cedar Realty Trust Inc, formerly known as Cedar Shopn Ctr, is based in Port Washington, NY. “
Get Cedar Realty Trust alerts:Several other analysts have also issued reports on the company. ValuEngine upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, December 6th. B. Riley restated a “buy” rating on shares of Cedar Realty Trust in a research note on Tuesday, November 13th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $5.00.
CDR traded down $0.07 on Tuesday, hitting $3.51. 151,487 shares of the company were exchanged, compared to its average volume of 456,929. Cedar Realty Trust has a 12 month low of $2.73 and a 12 month high of $5.34. The firm has a market capitalization of $321.67 million, a PE ratio of 6.05 and a beta of 1.02. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.92 and a current ratio of 0.92.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.11). The business had revenue of $36.93 million during the quarter, compared to the consensus estimate of $35.99 million. Cedar Realty Trust had a net margin of 2.56% and a return on equity of 0.96%. On average, research analysts forecast that Cedar Realty Trust will post 0.46 earnings per share for the current year.
In other Cedar Realty Trust news, Director Abraham Eisenstat acquired 100,000 shares of the company’s stock in a transaction on Thursday, December 20th. The shares were purchased at an average price of $2.87 per share, for a total transaction of $287,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.41% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in CDR. Oregon Public Employees Retirement Fund bought a new stake in Cedar Realty Trust in the fourth quarter valued at approximately $34,000. Brinker Capital Inc. bought a new stake in Cedar Realty Trust in the fourth quarter valued at approximately $34,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Cedar Realty Trust by 58.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,635 shares of the real estate investment trust’s stock valued at $55,000 after purchasing an additional 6,500 shares during the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Cedar Realty Trust in the fourth quarter valued at approximately $79,000. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Cedar Realty Trust by 273.4% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 42,771 shares of the real estate investment trust’s stock valued at $134,000 after purchasing an additional 31,316 shares during the last quarter. Hedge funds and other institutional investors own 88.36% of the company’s stock.
Cedar Realty Trust Company Profile
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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