Cedar Realty Trust Inc (NYSE:CDR) declared a quarterly dividend on Tuesday, October 23rd, Wall Street Journal reports. Shareholders of record on Friday, November 9th will be given a dividend of 0.05 per share by the real estate investment trust on Tuesday, November 20th. This represents a $0.20 dividend on an annualized basis and a yield of 5.48%. The ex-dividend date of this dividend is Thursday, November 8th.
Cedar Realty Trust has a dividend payout ratio of 33.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Cedar Realty Trust to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 37.0%.
CDR stock opened at $3.65 on Friday. The stock has a market cap of $343.87 million, a price-to-earnings ratio of 6.28 and a beta of 0.90. The company has a debt-to-equity ratio of 1.54, a current ratio of 1.11 and a quick ratio of 1.11. Cedar Realty Trust has a 1 year low of $3.54 and a 1 year high of $6.29.
In other Cedar Realty Trust news, CFO Philip Mays sold 25,000 shares of the stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $4.56, for a total transaction of $114,000.00. Following the completion of the transaction, the chief financial officer now owns 444,992 shares in the company, valued at approximately $2,029,163.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.41% of the stock is currently owned by corporate insiders.
A number of equities analysts have issued reports on the company. ValuEngine upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Monday, July 9th. Finally, TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c-” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. Cedar Realty Trust currently has an average rating of “Hold” and a consensus target price of $5.38.
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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