Zacks Investment Research Downgrades Cedar Realty Trust (CDR) to Hold

Cedar Realty Trust (NYSE:CDR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

Several other brokerages have also recently issued reports on CDR. Raymond James Financial reaffirmed a “hold” rating on shares of Cedar Realty Trust in a report on Thursday, December 14th. ValuEngine raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Friday, December 15th. Boenning Scattergood set a $5.00 target price on shares of Cedar Realty Trust and gave the stock a “sell” rating in a report on Tuesday, November 28th. B. Riley reaffirmed a “buy” rating on shares of Cedar Realty Trust in a report on Wednesday, November 1st. Finally, KeyCorp reaffirmed a “hold” rating on shares of Cedar Realty Trust in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $5.81.

Shares of Cedar Realty Trust (CDR) traded up $0.14 during midday trading on Tuesday, reaching $5.50. 431,900 shares of the company were exchanged, compared to its average volume of 519,255. Cedar Realty Trust has a one year low of $4.70 and a one year high of $6.36. The stock has a market cap of $493.11, a PE ratio of -78.57 and a beta of 0.96. The company has a debt-to-equity ratio of 1.49, a quick ratio of 0.72 and a current ratio of 0.72.

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, beating 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 company had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $35.31 million. During the same period last year, the company posted $0.15 EPS. Cedar Realty Trust’s revenue was down 3.7% on a year-over-year basis. research analysts anticipate that Cedar Realty Trust will post 0.55 earnings per share for the current year.

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Cedar Realty Trust by 9.7% during the second quarter. JPMorgan Chase & Co. now owns 729,269 shares of the real estate investment trust’s stock valued at $3,537,000 after buying an additional 64,425 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Cedar Realty Trust by 60.4% in the second quarter. Goldman Sachs Group Inc. now owns 501,289 shares of the real estate investment trust’s stock worth $2,431,000 after purchasing an additional 188,689 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Cedar Realty Trust by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,213,260 shares of the real estate investment trust’s stock worth $5,885,000 after purchasing an additional 62,150 shares during the period. FNY Partners Fund LP bought a new position in shares of Cedar Realty Trust in the third quarter worth approximately $490,000. Finally, Brandywine Global Investment Management LLC bought a new position in shares of Cedar Realty Trust in the second quarter worth approximately $3,684,000. Hedge funds and other institutional investors own 92.64% of the company’s stock.

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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).

Analyst Recommendations for Cedar Realty Trust (NYSE:CDR)

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