Zacks Investment Research downgraded shares of Cedar Realty Trust (NYSE:CDR) from a buy rating to a hold rating in a report released on Tuesday.
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 subject of several other reports. Boenning Scattergood set a $5.00 price objective on Cedar Realty Trust and gave the stock a sell rating in a research note on Tuesday, November 28th. KeyCorp restated a hold rating on shares of Cedar Realty Trust in a research note on Wednesday, October 4th. ValuEngine raised shares of Cedar Realty Trust from a hold rating to a buy rating in a report on Monday, October 2nd. Raymond James Financial reaffirmed a hold rating on shares of Cedar Realty Trust in a report on Thursday, December 14th. Finally, B. Riley reaffirmed a buy rating on shares of Cedar Realty Trust in a report on Wednesday, November 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Cedar Realty Trust presently has a consensus rating of Hold and a consensus price target of $6.06.
Cedar Realty Trust (CDR) traded down $0.13 during trading hours on Tuesday, hitting $5.93. The stock had a trading volume of 786,600 shares, compared to its average volume of 558,700. The company has a debt-to-equity ratio of 1.49, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $553.38, a price-to-earnings ratio of -84.71 and a beta of 0.96. Cedar Realty Trust has a 52-week low of $4.70 and a 52-week high of $6.72.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, topping the consensus estimate of $0.13 by $0.01. The firm had revenue of $36.40 million during the quarter, compared to analyst estimates of $35.31 million. Cedar Realty Trust had a return on equity of 4.18% and a net margin of 11.42%. Cedar Realty Trust’s revenue was down 3.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.15 EPS. research analysts anticipate that Cedar Realty Trust will post 0.55 earnings per share for the current year.
Institutional investors have recently modified their holdings of the stock. Crossmark Global Holdings Inc. bought a new position in Cedar Realty Trust in the 3rd quarter worth $100,000. Susquehanna International Group LLP bought a new position in Cedar Realty Trust in the 2nd quarter worth $103,000. Verition Fund Management LLC boosted its holdings in Cedar Realty Trust by 68.3% in the 2nd quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 9,097 shares during the period. SG Americas Securities LLC boosted its holdings in Cedar Realty Trust by 93.6% in the 3rd quarter. SG Americas Securities LLC now owns 24,776 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 11,981 shares during the period. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of Cedar Realty Trust during the 3rd quarter valued at about $193,000. 92.64% of the stock is owned by institutional investors.
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Cedar Realty Trust Company Profile
Cedar Realty Trust, Inc is a real estate investment trust (REIT). The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. As of December 31, 2016, the Company owned and managed a portfolio of 61 operating properties (excluding properties held for sale) totaling approximately 9.1 million square feet of gross leasable area (GLA).
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