Cedar Realty Trust (NYSE:CDR) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Cedar Realty Trust (NYSE:CDR) from a buy rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Cedar Realty Trust, Inc. is a real estate investment trust which owns a portfolio of predominantly grocery-anchored shopping centers in high-density urban markets from D.C. to Boston. Cedar Realty Trust Inc, formerly known as Cedar Shopn Ctr, is based in Port Washington, NY. “

Separately, ValuEngine lowered Zosano Pharma from a buy rating to a hold rating in a report on Wednesday, May 1st.

Shares of CDR stock opened at $2.56 on Tuesday. The company has a 50-day moving average price of $2.76. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $234.13 million, a price-to-earnings ratio of 4.41 and a beta of 0.86. Cedar Realty Trust has a fifty-two week low of $2.52 and a fifty-two week high of $4.95.

Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.10. The business had revenue of $36.88 million for the quarter, compared to analyst estimates of $36.57 million. Cedar Realty Trust had a return on equity of 5.85% and a net margin of 15.49%. On average, equities analysts expect that Cedar Realty Trust will post 0.45 earnings per share for the current year.

In other news, insider Bruce J. Schanzer sold 10,000 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $3.14, for a total value of $31,400.00. Following the transaction, the insider now directly owns 2,272,343 shares of the company’s stock, valued at $7,135,157.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.51% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. FMR LLC boosted its stake in shares of Cedar Realty Trust by 8.6% in the fourth quarter. FMR LLC now owns 4,140,727 shares of the real estate investment trust’s stock worth $13,002,000 after buying an additional 328,844 shares during the last quarter. Foundry Partners LLC boosted its stake in shares of Cedar Realty Trust by 6.3% in the first quarter. Foundry Partners LLC now owns 1,308,915 shares of the real estate investment trust’s stock worth $4,450,000 after buying an additional 77,475 shares during the last quarter. AJO LP boosted its stake in shares of Cedar Realty Trust by 4.3% in the first quarter. AJO LP now owns 1,235,285 shares of the real estate investment trust’s stock worth $4,200,000 after buying an additional 50,988 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Cedar Realty Trust by 68.7% in the fourth quarter. Millennium Management LLC now owns 1,101,047 shares of the real estate investment trust’s stock worth $3,457,000 after buying an additional 448,250 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of Cedar Realty Trust by 0.5% in the fourth quarter. Principal Financial Group Inc. now owns 727,485 shares of the real estate investment trust’s stock worth $2,284,000 after buying an additional 3,850 shares during the last quarter. 90.03% of the stock is currently owned by institutional investors and hedge funds.

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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