Cedar Realty Trust (CDR) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Cedar Realty Trust (NYSE:CDR) from a hold rating to a sell rating in a report released on Wednesday.

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. “

CDR has been the subject of several other research reports. ValuEngine raised shares of Cedar Realty Trust from a hold rating to a buy rating in a research report on Friday, December 15th. Boenning Scattergood reaffirmed a sell rating and set a $4.50 price objective on shares of Cedar Realty Trust in a research report on Monday, November 6th. KeyCorp reaffirmed a hold rating on shares of Cedar Realty Trust in a research report on Friday, November 3rd. TheStreet downgraded shares of Cedar Realty Trust from a c rating to a d+ rating in a research report on Thursday, February 8th. Finally, B. Riley reduced their price objective on shares of Cedar Realty Trust from $6.50 to $5.50 and set a buy rating for the company in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $5.75.

Cedar Realty Trust (NYSE CDR) opened at $4.09 on Wednesday. Cedar Realty Trust has a 52 week low of $4.01 and a 52 week high of $6.29. The company has a quick ratio of 0.72, a current ratio of 1.00 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $379.54, a P/E ratio of -134.67 and a beta of 0.75.

Cedar Realty Trust (NYSE:CDR) last released its earnings results on Thursday, February 8th. The real estate investment trust reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.11). The firm had revenue of $37.14 million for the quarter, compared to analyst estimates of $37.06 million. Cedar Realty Trust had a net margin of 13.11% and a return on equity of 4.71%. The business’s revenue for the quarter was down .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.14 EPS. analysts expect that Cedar Realty Trust will post 0.55 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, February 9th. Cedar Realty Trust’s dividend payout ratio (DPR) is -666.67%.

Hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its holdings in shares of Cedar Realty Trust by 1.7% in the 2nd quarter. Wells Fargo & Company MN now owns 59,280 shares of the real estate investment trust’s stock worth $288,000 after purchasing an additional 1,012 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Cedar Realty Trust by 4.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 71,816 shares of the real estate investment trust’s stock worth $348,000 after purchasing an additional 3,115 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Cedar Realty Trust by 3.5% in the 2nd quarter. Alliancebernstein L.P. now owns 138,894 shares of the real estate investment trust’s stock worth $674,000 after purchasing an additional 4,694 shares in the last quarter. Voya Investment Management LLC lifted its holdings in shares of Cedar Realty Trust by 10.6% in the 2nd quarter. Voya Investment Management LLC now owns 55,599 shares of the real estate investment trust’s stock worth $270,000 after purchasing an additional 5,309 shares in the last quarter. Finally, Verition Fund Management LLC lifted its holdings in shares of Cedar Realty Trust by 68.3% in the 2nd quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock worth $109,000 after purchasing an additional 9,097 shares in the last quarter. 95.05% of the stock is owned by 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).

Analyst Recommendations for Cedar Realty Trust (NYSE:CDR)

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