Zacks: Brokerages Anticipate Cedar Realty Trust Inc (CDR) Will Post Earnings of $0.13 Per Share

Brokerages expect Cedar Realty Trust Inc (NYSE:CDR) to announce $0.13 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Cedar Realty Trust’s earnings. Cedar Realty Trust reported earnings of $0.14 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 7.1%. The business is expected to issue its next earnings results after the market closes on Thursday, May 3rd.

On average, analysts expect that Cedar Realty Trust will report full year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.53 to $0.54. For the next year, analysts anticipate that the firm will post earnings of $0.54 per share, with EPS estimates ranging from $0.50 to $0.58. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Cedar Realty Trust.

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Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, February 8th. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.11). Cedar Realty Trust had a return on equity of 4.71% and a net margin of 13.11%. The business had revenue of $37.14 million during the quarter, compared to the consensus estimate of $37.06 million. During the same period in the previous year, the company posted $0.14 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year.

CDR has been the subject of several recent analyst reports. Zacks Investment Research raised Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.00 price target for the company in a research note on Monday, January 22nd. Boenning Scattergood reissued a “sell” rating on shares of Cedar Realty Trust in a research note on Monday, February 12th. TheStreet cut Cedar Realty Trust from a “c” rating to a “d+” rating in a research note on Thursday, February 8th. ValuEngine cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Robert W. Baird decreased their price target on Cedar Realty Trust from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, February 12th. 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 company’s stock. Cedar Realty Trust presently has a consensus rating of “Hold” and a consensus price target of $5.75.

Hedge funds have recently made changes to their positions in the stock. Snow Park Capital Partners LP bought a new position in Cedar Realty Trust during the fourth quarter valued at about $21,863,000. AXA acquired a new position in shares of Cedar Realty Trust in the 4th quarter valued at $3,181,000. Aperio Group LLC boosted its position in shares of Cedar Realty Trust by 10.0% in the 4th quarter. Aperio Group LLC now owns 116,724 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 10,567 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Cedar Realty Trust by 7.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 811,146 shares of the real estate investment trust’s stock valued at $4,559,000 after purchasing an additional 53,665 shares during the period. Finally, Thrivent Financial For Lutherans boosted its position in shares of Cedar Realty Trust by 30.0% in the 4th quarter. Thrivent Financial For Lutherans now owns 411,750 shares of the real estate investment trust’s stock valued at $2,504,000 after purchasing an additional 94,991 shares during the period. 94.46% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CDR traded down $0.15 on Thursday, hitting $3.71. The company’s stock had a trading volume of 306,023 shares, compared to its average volume of 583,180. Cedar Realty Trust has a 12 month low of $3.62 and a 12 month high of $6.29. The stock has a market cap of $362.08, a price-to-earnings ratio of 6.75 and a beta of 0.89. The company has a debt-to-equity ratio of 1.37, a quick ratio of 1.00 and a current ratio of 1.00.

The company also recently announced a quarterly dividend, which will be paid on Monday, May 21st. Investors of record on Friday, May 11th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, May 10th. This represents a $0.20 annualized dividend and a yield of 5.39%. Cedar Realty Trust’s dividend payout ratio is currently 36.36%.

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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 61 properties, with approximately 9.0 million square feet of gross leasable area.

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Earnings History and Estimates for Cedar Realty Trust (NYSE:CDR)

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