Zacks Investment Research Downgrades Cedar Realty Trust (CDR) to Sell

Cedar Realty Trust (NYSE:CDR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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. “

Several other equities research analysts also recently commented on the stock. ValuEngine downgraded shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. TheStreet upgraded shares of Cedar Realty Trust from a “d+” rating to a “c-” rating in a research note on Friday, August 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company’s stock. Cedar Realty Trust presently has an average rating of “Hold” and an average price target of $5.38.

NYSE CDR opened at $3.93 on Wednesday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 1.02 and a current ratio of 1.02. Cedar Realty Trust has a 12-month low of $3.54 and a 12-month high of $6.29. The firm has a market capitalization of $358.45 million, a price-to-earnings ratio of 7.15 and a beta of 0.90.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.10. Cedar Realty Trust had a net margin of 3.16% and a return on equity of 1.17%. The business had revenue of $36.17 million for the quarter, compared to analyst estimates of $36.41 million. Sell-side analysts anticipate that Cedar Realty Trust will post 0.58 EPS for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Cedar Realty Trust by 0.6% during the second quarter. BlackRock Inc. now owns 12,163,043 shares of the real estate investment trust’s stock valued at $57,409,000 after purchasing an additional 73,036 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Cedar Realty Trust by 43.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,509,123 shares of the real estate investment trust’s stock valued at $11,844,000 after purchasing an additional 762,296 shares during the period. LSV Asset Management lifted its position in Cedar Realty Trust by 0.9% during the third quarter. LSV Asset Management now owns 2,081,757 shares of the real estate investment trust’s stock valued at $9,700,000 after purchasing an additional 19,500 shares during the period. Millennium Management LLC lifted its position in Cedar Realty Trust by 212.0% during the second quarter. Millennium Management LLC now owns 1,482,783 shares of the real estate investment trust’s stock valued at $6,999,000 after purchasing an additional 1,007,583 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Cedar Realty Trust by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,376,694 shares of the real estate investment trust’s stock valued at $6,498,000 after purchasing an additional 19,990 shares during the period. Institutional investors own 92.98% of the company’s stock.

About Cedar Realty Trust

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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