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. “
Other analysts also recently issued reports about the stock. Wunderlich lifted their price target on shares of Cedar Realty Trust from $8.00 to $8.50 and gave the company a buy rating in a report on Monday, August 8th. Boenning Scattergood downgraded shares of Cedar Realty Trust from a neutral rating to an underperform rating and set a $6.50 price target on the stock. in a report on Tuesday, June 28th.
Cedar Realty Trust (NYSE:CDR) opened at 6.65 on Wednesday. The company has a market capitalization of $545.67 million, a P/E ratio of 118.75 and a beta of 1.10. Cedar Realty Trust has a 52 week low of $6.47 and a 52 week high of $8.08. The stock’s 50 day moving average is $7.37 and its 200 day moving average is $7.27.
Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Thursday, August 4th. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.11. The company had revenue of $37.87 million for the quarter, compared to the consensus estimate of $37.74 million. Cedar Realty Trust had a net margin of 13.14% and a return on equity of 4.94%. Cedar Realty Trust’s revenue for the quarter was up 3.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. On average, equities research analysts expect that Cedar Realty Trust will post $0.03 earnings per share for the current year.
In other Cedar Realty Trust news, CFO Philip Mays sold 25,000 shares of Cedar Realty Trust stock in a transaction on Monday, September 12th. The shares were sold at an average price of $7.50, for a total value of $187,500.00. Following the completion of the transaction, the chief financial officer now directly owns 776,042 shares of the company’s stock, valued at approximately $5,820,315. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 4.42% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of CDR. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Cedar Realty Trust by 5.0% in the second quarter. Mizuho Trust & Banking Co. Ltd. now owns 14,520 shares of the real estate investment trust’s stock worth $108,000 after buying an additional 696 shares during the last quarter. Guggenheim Capital LLC boosted its position in Cedar Realty Trust by 10.5% in the second quarter. Guggenheim Capital LLC now owns 14,684 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,393 shares in the last quarter. Mason Street Advisors LLC purchased a new position in Cedar Realty Trust during the second quarter worth approximately $109,000. Fox Run Management L.L.C. purchased a new position in Cedar Realty Trust during the second quarter worth approximately $126,000. Finally, Hsbc Holdings PLC boosted its position in Cedar Realty Trust by 0.4% in the second quarter. Hsbc Holdings PLC now owns 18,035 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 79 shares in the last quarter. 97.02% of the stock is owned by institutional investors and hedge funds.
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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