Cedar Realty Trust (CDR) Trading Up 5.2%

Cedar Realty Trust Inc (NYSE:CDR)’s share price was up 5.2% during mid-day trading on Thursday . The company traded as high as $3.65 and last traded at $3.62. Approximately 510,915 shares changed hands during trading, an increase of 13% from the average daily volume of 451,903 shares. The stock had previously closed at $3.44.

A number of equities analysts have issued reports on CDR shares. ValuEngine upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. B. Riley restated a “buy” rating on shares of Cedar Realty Trust in a report on Tuesday, November 13th. Finally, Zacks Investment Research cut Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, November 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Cedar Realty Trust presently has an average rating of “Hold” and an average target price of $5.38.

The firm has a market capitalization of $313.76 million, a PE ratio of 6.58 and a beta of 0.89. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.52.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. The firm had revenue of $36.17 million for the quarter, compared to analysts’ expectations of $36.41 million. Cedar Realty Trust had a return on equity of 1.17% and a net margin of 3.16%. As a group, equities analysts forecast that Cedar Realty Trust Inc will post 0.57 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 20th. Shareholders of record on Friday, November 9th were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Thursday, November 8th. Cedar Realty Trust’s payout ratio is 36.36%.

In other news, insider Bruce J. Schanzer bought 10,840 shares of the stock in a transaction dated Tuesday, November 27th. The shares were bought at an average cost of $3.40 per share, with a total value of $36,856.00. Following the completion of the transaction, the insider now directly owns 2,111,393 shares of the company’s stock, valued at $7,178,736.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.41% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its position in Cedar Realty Trust by 10.6% in the 3rd quarter. BlackRock Inc. now owns 13,450,470 shares of the real estate investment trust’s stock valued at $62,679,000 after buying an additional 1,287,427 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Cedar Realty Trust by 43.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,509,123 shares of the real estate investment trust’s stock valued at $11,844,000 after buying an additional 762,296 shares during the last quarter. LSV Asset Management raised its position in Cedar Realty Trust by 0.9% in the 3rd quarter. LSV Asset Management now owns 2,081,757 shares of the real estate investment trust’s stock valued at $9,700,000 after buying an additional 19,500 shares during the last quarter. Man Group plc raised its position in Cedar Realty Trust by 1,670.7% in the 3rd quarter. Man Group plc now owns 1,574,551 shares of the real estate investment trust’s stock valued at $7,337,000 after buying an additional 1,485,629 shares during the last quarter. Finally, Millennium Management LLC increased its position in shares of Cedar Realty Trust by 212.0% during the 2nd quarter. Millennium Management LLC now owns 1,482,783 shares of the real estate investment trust’s stock valued at $6,999,000 after purchasing an additional 1,007,583 shares during the last quarter. 91.83% of the stock is currently owned by institutional investors.

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Cedar Realty Trust Company Profile (NYSE:CDR)

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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