$30.15 Million in Sales Expected for Cedar Realty Trust, Inc. (NYSE:CDR) This Quarter

Brokerages forecast that Cedar Realty Trust, Inc. (NYSE:CDR) will report $30.15 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Cedar Realty Trust’s earnings, with the lowest sales estimate coming in at $30.08 million and the highest estimate coming in at $30.22 million. Cedar Realty Trust posted sales of $31.18 million in the same quarter last year, which indicates a negative year over year growth rate of 3.3%. The company is expected to announce its next quarterly earnings results on Thursday, November 4th.

On average, analysts expect that Cedar Realty Trust will report full-year sales of $126.38 million for the current fiscal year, with estimates ranging from $126.30 million to $126.46 million. For the next fiscal year, analysts anticipate that the firm will report sales of $123.25 million, with estimates ranging from $122.03 million to $124.47 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Cedar Realty Trust.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, November 4th. The real estate investment trust reported ($6.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($6.83). Cedar Realty Trust had a return on equity of 17.47% and a net margin of 45.65%. During the same quarter last year, the business posted $0.59 earnings per share.

Several equities research analysts have recently issued reports on the stock. Raymond James increased their price objective on shares of Cedar Realty Trust from $18.00 to $21.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 17th. B. Riley upped their target price on shares of Cedar Realty Trust from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, September 10th. Finally, Zacks Investment Research upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Cedar Realty Trust has a consensus rating of “Buy” and a consensus price target of $21.00.

A number of hedge funds and other institutional investors have recently bought and sold shares of CDR. JPMorgan Chase & Co. boosted its stake in Cedar Realty Trust by 54.9% during the 1st quarter. JPMorgan Chase & Co. now owns 3,068 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,087 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Cedar Realty Trust by 8.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 124,735 shares of the real estate investment trust’s stock valued at $1,859,000 after acquiring an additional 10,065 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Cedar Realty Trust by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,442,479 shares of the real estate investment trust’s stock valued at $36,393,000 after acquiring an additional 41,184 shares during the last quarter. Millennium Management LLC boosted its stake in Cedar Realty Trust by 101.7% during the 1st quarter. Millennium Management LLC now owns 240,483 shares of the real estate investment trust’s stock valued at $3,583,000 after acquiring an additional 121,277 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its stake in Cedar Realty Trust by 16.7% during the 1st quarter. Squarepoint Ops LLC now owns 14,190 shares of the real estate investment trust’s stock valued at $211,000 after acquiring an additional 2,030 shares during the last quarter. Hedge funds and other institutional investors own 49.93% of the company’s stock.

Cedar Realty Trust stock opened at $22.42 on Friday. Cedar Realty Trust has a 52-week low of $6.56 and a 52-week high of $24.48. The firm has a fifty day moving average of $21.10 and a 200-day moving average of $17.71. The firm has a market capitalization of $306.95 million, a P/E ratio of 6.37 and a beta of 1.39. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 1.38.

The company also recently announced a quarterly dividend, which will be paid on Monday, November 22nd. Stockholders of record on Friday, November 12th will be paid a $0.066 dividend. The ex-dividend date of this dividend is Wednesday, November 10th. This represents a $0.26 annualized dividend and a dividend yield of 1.18%. Cedar Realty Trust’s dividend payout ratio (DPR) is presently 9.03%.

About Cedar Realty Trust

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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Earnings History and Estimates for Cedar Realty Trust (NYSE:CDR)

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