California Public Employees Retirement System increased its stake in Cedar Realty Trust Inc. (NYSE:CDR) by 17.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 295,700 shares of the real estate investment trust’s stock after buying an additional 45,000 shares during the period. California Public Employees Retirement System owned about 0.36% of Cedar Realty Trust worth $2,197,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of CDR. Fox Run Management L.L.C. bought a new position in Cedar Realty Trust during the second quarter valued at $126,000. BlackRock Group LTD boosted its position in Cedar Realty Trust by 3.0% in the first quarter. BlackRock Group LTD now owns 590,445 shares of the real estate investment trust’s stock valued at $4,269,000 after buying an additional 17,313 shares during the period. Renaissance Technologies LLC boosted its position in Cedar Realty Trust by 8.3% in the first quarter. Renaissance Technologies LLC now owns 2,351,100 shares of the real estate investment trust’s stock valued at $16,998,000 after buying an additional 181,100 shares during the period. AXA boosted its position in Cedar Realty Trust by 10.6% in the first quarter. AXA now owns 183,200 shares of the real estate investment trust’s stock valued at $1,325,000 after buying an additional 17,500 shares during the period. Finally, BlackRock Inc. boosted its position in Cedar Realty Trust by 15.0% in the first quarter. BlackRock Inc. now owns 86,972 shares of the real estate investment trust’s stock valued at $629,000 after buying an additional 11,375 shares during the period. Hedge funds and other institutional investors own 97.02% of the company’s stock.
Cedar Realty Trust Inc. (NYSE:CDR) traded down 2.38% during mid-day trading on Tuesday, reaching $6.96. 124,393 shares of the company’s stock were exchanged. The firm has a market cap of $571.10 million, a price-to-earnings ratio of 124.29 and a beta of 1.10. Cedar Realty Trust Inc. has a 12 month low of $6.31 and a 12 month high of $8.08. The stock has a 50-day moving average of $7.43 and a 200-day moving average of $7.28.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.11. The business had revenue of $37.87 million for the quarter, compared to analyst estimates of $37.74 million. Cedar Realty Trust had a net margin of 13.14% and a return on equity of 4.94%. The firm’s revenue for the quarter was up 3.1% on a year-over-year basis. During the same quarter last year, the business posted $0.14 EPS. Analysts anticipate that Cedar Realty Trust Inc. will post $0.03 earnings per share for the current year.
Several research analysts recently weighed in on CDR shares. Zacks Investment Research cut shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 6th. Boenning Scattergood cut shares of Cedar Realty Trust from a “neutral” rating to an “underperform” rating and set a $6.50 price objective for the company. in a research report on Tuesday, June 28th. Finally, Wunderlich lifted their target price on shares of Cedar Realty Trust from $8.00 to $8.50 and gave the stock a “buy” rating in a report on Monday, August 8th.
In related news, CFO Philip Mays sold 25,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $7.50, for a total transaction of $187,500.00. Following the sale, the chief financial officer now owns 776,042 shares in the company, valued at approximately $5,820,315. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.42% of the company’s stock.
About Cedar Realty Trust
Cedar Realty Trust, Inc is a real estate investment trust. The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. The Company focuses its investment activities on grocery-anchored shopping centers. It owns and manages a portfolio of approximately 60 operating properties, including approximately 30 properties in Pennsylvania; over eight properties in Massachusetts; approximately seven properties in Connecticut; over six properties in Maryland; approximately eight properties in Virginia; over three properties in New Jersey, and one property in New York.
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