Cedar Realty Trust (NYSE:CDR) Cut to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Cedar Realty Trust (NYSE:CDR) from a buy rating to a hold rating in a research note released 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. “

Separately, TheStreet downgraded Cedar Realty Trust from a c- rating to a d+ rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $3.42.

CDR traded down $0.01 on Tuesday, reaching $2.81. The company’s stock had a trading volume of 3,778 shares, compared to its average volume of 360,710. The stock has a 50 day moving average of $2.82 and a two-hundred day moving average of $2.79. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.78. The company has a market capitalization of $255.48 million, a price-to-earnings ratio of -23.41 and a beta of 0.97. Cedar Realty Trust has a fifty-two week low of $2.19 and a fifty-two week high of $3.70.

Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.26). The business had revenue of $35.63 million during the quarter, compared to analyst estimates of $36.10 million. Cedar Realty Trust had a net margin of 0.75% and a return on equity of 0.29%. As a group, analysts anticipate that Cedar Realty Trust will post 0.5 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Monday, February 10th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 7.12%. The ex-dividend date is Friday, February 7th. Cedar Realty Trust’s payout ratio is currently 44.44%.

Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Cedar Realty Trust by 5.9% in the second quarter. Vanguard Group Inc. now owns 9,587,635 shares of the real estate investment trust’s stock valued at $25,407,000 after acquiring an additional 534,618 shares during the period. LSV Asset Management boosted its holdings in shares of Cedar Realty Trust by 3.0% in the fourth quarter. LSV Asset Management now owns 2,978,824 shares of the real estate investment trust’s stock valued at $8,787,000 after acquiring an additional 85,814 shares during the period. State Street Corp boosted its holdings in shares of Cedar Realty Trust by 3.0% in the fourth quarter. State Street Corp now owns 2,888,169 shares of the real estate investment trust’s stock valued at $8,520,000 after acquiring an additional 85,278 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Cedar Realty Trust by 12.6% in the fourth quarter. Renaissance Technologies LLC now owns 2,583,960 shares of the real estate investment trust’s stock valued at $7,623,000 after acquiring an additional 289,450 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Cedar Realty Trust by 20.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,460,163 shares of the real estate investment trust’s stock valued at $4,307,000 after acquiring an additional 248,348 shares during the period. 87.81% of the stock is owned by institutional investors and hedge funds.

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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