Zacks Investment Research upgraded shares of Cedar Realty Trust (NYSE:CDR) from a hold rating to a buy rating in a report issued on Wednesday morning. They currently have $7.00 price objective on the real estate investment trust’s stock.
According to Zacks, “Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of bread and butter supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company owns and operates shopping center properties which are anchored by supermarkets and/or drugstores. “
A number of other brokerages have also issued reports on CDR. Raymond James Financial reiterated a hold rating on shares of Cedar Realty Trust in a research note on Thursday, December 14th. ValuEngine upgraded shares of Cedar Realty Trust from a hold rating to a buy rating in a research note on Friday, December 15th. Boenning Scattergood set a $5.00 price target on shares of Cedar Realty Trust and gave the stock a sell rating in a research note on Tuesday, November 28th. B. Riley reiterated a buy rating on shares of Cedar Realty Trust in a research note on Wednesday, November 1st. Finally, KeyCorp reiterated a hold rating on shares of Cedar Realty Trust in a research note on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $6.06.
Shares of Cedar Realty Trust (CDR) traded up $0.02 during trading on Wednesday, hitting $5.96. 306,112 shares of the stock were exchanged, compared to its average volume of 775,963. Cedar Realty Trust has a twelve month low of $4.70 and a twelve month high of $6.68. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.49. The firm has a market capitalization of $544.25, a price-to-earnings ratio of -85.14 and a beta of 0.96.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. Cedar Realty Trust had a net margin of 11.42% and a return on equity of 4.18%. The business had revenue of $36.40 million for the quarter, compared to analyst estimates of $35.31 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue was down 3.7% compared to the same quarter last year. equities analysts forecast that Cedar Realty Trust will post 0.55 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in CDR. LSV Asset Management boosted its holdings in Cedar Realty Trust by 1,820.0% during the second quarter. LSV Asset Management now owns 1,009,900 shares of the real estate investment trust’s stock worth $4,898,000 after buying an additional 957,300 shares in the last quarter. Brandywine Global Investment Management LLC purchased a new stake in Cedar Realty Trust during the second quarter worth about $3,684,000. Deprince Race & Zollo Inc. boosted its holdings in Cedar Realty Trust by 36.2% during the third quarter. Deprince Race & Zollo Inc. now owns 2,495,693 shares of the real estate investment trust’s stock worth $14,026,000 after buying an additional 663,014 shares in the last quarter. TIAA CREF Investment Management LLC boosted its holdings in Cedar Realty Trust by 144.3% during the second quarter. TIAA CREF Investment Management LLC now owns 561,367 shares of the real estate investment trust’s stock worth $2,723,000 after buying an additional 331,619 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Cedar Realty Trust during the second quarter worth about $1,462,000. 92.64% of the stock is currently owned by hedge funds and other institutional investors.
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Cedar Realty Trust Company Profile
Cedar Realty Trust, Inc is a real estate investment trust (REIT). The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. As of December 31, 2016, the Company owned and managed a portfolio of 61 operating properties (excluding properties held for sale) totaling approximately 9.1 million square feet of gross leasable area (GLA).
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