Cedar Realty Trust (CDR) Rating Increased to Hold at Zacks Investment Research

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Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and 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. “

Shares of NYSE CDR opened at $3.21 on Tuesday. The company has a market capitalization of $285.85 million, a P/E ratio of 5.53 and a beta of 1.04. Cedar Realty Trust has a 12-month low of $2.73 and a 12-month high of $5.34. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.92 and a current ratio of 0.92.

Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.11). Cedar Realty Trust had a return on equity of 0.96% and a net margin of 2.56%. The company had revenue of $36.93 million during the quarter, compared to the consensus estimate of $35.99 million. On average, research analysts forecast that Cedar Realty Trust will post 0.45 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of CDR. Bank of New York Mellon Corp increased its position in Cedar Realty Trust by 5.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,307,506 shares of the real estate investment trust’s stock valued at $6,092,000 after acquiring an additional 71,558 shares during the period. Martingale Asset Management L P increased its position in Cedar Realty Trust by 17.5% in the 3rd quarter. Martingale Asset Management L P now owns 335,180 shares of the real estate investment trust’s stock valued at $1,562,000 after acquiring an additional 49,922 shares during the period. BlackRock Inc. increased its position in Cedar Realty Trust by 10.6% in the 3rd quarter. BlackRock Inc. now owns 13,450,470 shares of the real estate investment trust’s stock valued at $62,679,000 after acquiring an additional 1,287,427 shares during the period. Renaissance Technologies LLC increased its position in Cedar Realty Trust by 20.3% in the 3rd quarter. Renaissance Technologies LLC now owns 1,321,516 shares of the real estate investment trust’s stock valued at $6,158,000 after acquiring an additional 223,284 shares during the period. Finally, Man Group plc increased its position in Cedar Realty Trust by 1,670.7% in the 3rd quarter. Man Group plc now owns 1,574,551 shares of the real estate investment trust’s stock valued at $7,337,000 after acquiring an additional 1,485,629 shares during the period. Hedge funds and other institutional investors own 90.26% of the company’s stock.

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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