Cedar Realty Trust (NYSE:CDR) Shares Pass Above 200 Day Moving Average of $16.29

Cedar Realty Trust, Inc. (NYSE:CDR)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.29 and traded as high as $22.57. Cedar Realty Trust shares last traded at $22.40, with a volume of 46,370 shares traded.

A number of equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 4th. Raymond James upped their price target on shares of Cedar Realty Trust from $18.00 to $21.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 17th. Finally, B. Riley upped their price target on shares of Cedar Realty Trust from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $21.00.

The stock has a 50-day simple moving average of $17.97 and a two-hundred day simple moving average of $16.29. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.65 and a current ratio of 0.65. The firm has a market cap of $306.68 million, a PE ratio of 6.37 and a beta of 1.61.

Cedar Realty Trust (NYSE:CDR) last issued its earnings results on Thursday, July 29th. The real estate investment trust reported $3.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.64 by $2.88. Cedar Realty Trust had a return on equity of 17.47% and a net margin of 45.65%. As a group, sell-side analysts anticipate that Cedar Realty Trust, Inc. will post 2.3 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, August 20th. Shareholders of record on Tuesday, August 10th were given a $0.066 dividend. This represents a $0.26 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date was Monday, August 9th. Cedar Realty Trust’s dividend payout ratio (DPR) is 9.03%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Balyasny Asset Management LLC purchased a new stake in shares of Cedar Realty Trust during the 2nd quarter valued at about $381,000. Boothbay Fund Management LLC increased its holdings in Cedar Realty Trust by 6.3% in the 2nd quarter. Boothbay Fund Management LLC now owns 45,474 shares of the real estate investment trust’s stock worth $766,000 after acquiring an additional 2,700 shares in the last quarter. State Street Corp purchased a new stake in Cedar Realty Trust in the 2nd quarter worth approximately $769,000. Renaissance Technologies LLC increased its holdings in Cedar Realty Trust by 4.8% in the 2nd quarter. Renaissance Technologies LLC now owns 113,227 shares of the real estate investment trust’s stock worth $1,907,000 after acquiring an additional 5,200 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Cedar Realty Trust by 16.0% in the 2nd quarter. Northern Trust Corp now owns 47,554 shares of the real estate investment trust’s stock worth $800,000 after acquiring an additional 6,569 shares in the last quarter. 41.07% of the stock is owned by hedge funds and other institutional investors.

About Cedar Realty Trust (NYSE:CDR)

Cedar Realty Trust, Inc operates as a real estate investment trust, which engages in the ownership, operation, and redevelopment of grocery-anchored shopping centers. It also maintains property management, construction management and/or leasing offices at several of its shopping-center properties. The company was founded in 1984 and is headquartered in Port Washington, NY.

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