Wall Street analysts expect that Cedar Realty Trust Inc (NYSE:CDR) will announce sales of $36.24 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cedar Realty Trust’s earnings. The lowest sales estimate is $35.46 million and the highest is $36.76 million. Cedar Realty Trust posted sales of $36.93 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.9%. The business is scheduled to issue its next earnings report on Thursday, February 6th.
On average, analysts expect that Cedar Realty Trust will report full-year sales of $144.62 million for the current fiscal year, with estimates ranging from $143.91 million to $145.17 million. For the next financial year, analysts anticipate that the company will post sales of $145.79 million, with estimates ranging from $144.33 million to $147.61 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Cedar Realty Trust.
Separately, Zacks Investment Research raised shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday.
Several institutional investors have recently made changes to their positions in the company. Millennium Management LLC raised its holdings in Cedar Realty Trust by 183.7% during the 3rd quarter. Millennium Management LLC now owns 513,921 shares of the real estate investment trust’s stock valued at $1,541,000 after buying an additional 332,796 shares during the last quarter. Squarepoint Ops LLC raised its holdings in Cedar Realty Trust by 64.0% during the 3rd quarter. Squarepoint Ops LLC now owns 226,344 shares of the real estate investment trust’s stock valued at $679,000 after buying an additional 88,289 shares during the last quarter. PVG Asset Management Corp bought a new stake in Cedar Realty Trust during the 3rd quarter valued at $1,380,000. Barclays PLC raised its holdings in Cedar Realty Trust by 16.7% during the 3rd quarter. Barclays PLC now owns 117,257 shares of the real estate investment trust’s stock valued at $353,000 after buying an additional 16,776 shares during the last quarter. Finally, State Street Corp raised its holdings in Cedar Realty Trust by 2.7% during the 3rd quarter. State Street Corp now owns 2,802,891 shares of the real estate investment trust’s stock valued at $8,409,000 after buying an additional 73,382 shares during the last quarter. 87.68% of the stock is owned by institutional investors.
Cedar Realty Trust stock traded down $0.01 during midday trading on Monday, reaching $2.64. 246,859 shares of the stock were exchanged, compared to its average volume of 244,198. The company’s fifty day moving average is $2.90 and its 200-day moving average is $2.75. The company has a debt-to-equity ratio of 1.72, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market cap of $235.01 million, a PE ratio of 4.55 and a beta of 0.83. Cedar Realty Trust has a 52 week low of $2.19 and a 52 week high of $3.76.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 8th were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 7.58%. Cedar Realty Trust’s dividend payout ratio (DPR) is 34.48%.
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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