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

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

CDR has been the topic of several other research reports. ValuEngine upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, August 6th. Compass Point assumed coverage on Cedar Realty Trust in a research note on Thursday, August 15th. They issued a “sell” rating and a $2.00 price objective on the stock.

NYSE:CDR traded up $0.06 on Tuesday, hitting $2.83. The company’s stock had a trading volume of 144,873 shares, compared to its average volume of 252,023. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.72. The stock has a fifty day moving average of $3.13 and a two-hundred day moving average of $2.80. The firm has a market capitalization of $243.91 million, a P/E ratio of 4.88 and a beta of 0.91. Cedar Realty Trust has a one year low of $2.19 and a one year high of $3.76.

In other news, CFO Philip Mays sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $3.01, for a total value of $75,250.00. Following the transaction, the chief financial officer now owns 609,024 shares of the company’s stock, valued at $1,833,162.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.51% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Cedar Realty Trust in the second quarter valued at approximately $29,000. Crossmark Global Holdings Inc. acquired a new position in shares of Cedar Realty Trust in the second quarter valued at approximately $29,000. Bank of Montreal Can grew its position in shares of Cedar Realty Trust by 167.6% in the second quarter. Bank of Montreal Can now owns 11,602 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 7,266 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Cedar Realty Trust in the third quarter valued at approximately $52,000. Finally, Cubist Systematic Strategies LLC grew its position in shares of Cedar Realty Trust by 90.2% in the second quarter. Cubist Systematic Strategies LLC now owns 25,190 shares of the real estate investment trust’s stock valued at $67,000 after purchasing an additional 11,945 shares during the last quarter. 89.42% of the stock is currently owned by institutional investors.

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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