Shares of Cedar Realty Trust, Inc. (NYSE:CDR) have earned a consensus recommendation of “Hold” from the eight analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $6.75.
CDR has been the subject of several recent research reports. TheStreet raised shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a report on Friday, May 5th. ValuEngine cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Thursday, May 11th. Finally, Robert W. Baird raised shares of Cedar Realty Trust from a “neutral” rating to an “outperform” rating and dropped their price target for the company from $8.00 to $6.00 in a research note on Monday, March 13th.
Shares of Cedar Realty Trust (CDR) traded down 1.90% during mid-day trading on Tuesday, reaching $5.15. 754,509 shares of the company’s stock were exchanged. The company has a market capitalization of $423.24 million, a PE ratio of 111.96 and a beta of 0.90. Cedar Realty Trust has a one year low of $4.80 and a one year high of $8.08. The company’s 50-day moving average price is $5.17 and its 200-day moving average price is $5.67.
Cedar Realty Trust (NYSE:CDR) last posted its earnings results on Thursday, May 4th. The real estate investment trust reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.01. The firm had revenue of $36.77 million during the quarter, compared to analyst estimates of $36.37 million. Cedar Realty Trust had a net margin of 12.74% and a return on equity of 4.88%. The business’s quarterly revenue was down 3.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. On average, equities analysts expect that Cedar Realty Trust will post $0.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Shareholders of record on Friday, May 12th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, May 10th. This represents a $0.20 annualized dividend and a yield of 3.88%. Cedar Realty Trust’s dividend payout ratio (DPR) is presently 400.00%.
In other Cedar Realty Trust news, Director Abraham Eisenstat bought 10,000 shares of the stock in a transaction on Thursday, March 23rd. The shares were bought at an average price of $5.08 per share, with a total value of $50,800.00. Following the purchase, the director now directly owns 61,541 shares in the company, valued at approximately $312,628.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.50% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Russell Investments Group Ltd. acquired a new stake in shares of Cedar Realty Trust during the fourth quarter valued at about $4,695,000. Comerica Bank boosted its stake in shares of Cedar Realty Trust by 6.0% in the fourth quarter. Comerica Bank now owns 83,062 shares of the real estate investment trust’s stock valued at $520,000 after buying an additional 4,724 shares during the period. State Street Corp boosted its stake in shares of Cedar Realty Trust by 5.6% in the fourth quarter. State Street Corp now owns 2,949,682 shares of the real estate investment trust’s stock valued at $19,260,000 after buying an additional 157,339 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Cedar Realty Trust by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,085,185 shares of the real estate investment trust’s stock valued at $7,086,000 after buying an additional 71,436 shares during the period. Finally, Renaissance Group LLC boosted its stake in shares of Cedar Realty Trust by 0.4% in the fourth quarter. Renaissance Group LLC now owns 52,747 shares of the real estate investment trust’s stock valued at $344,000 after buying an additional 229 shares during the period. 98.79% of the stock is currently owned by institutional investors.
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About Cedar Realty Trust
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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