Cedar Realty Trust (CDR) Downgraded by Zacks Investment Research

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

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. “

Other equities research analysts have also issued reports about the stock. B. Riley reiterated a buy rating on shares of Cedar Realty Trust in a report on Tuesday, November 13th. ValuEngine upgraded shares of Cedar Realty Trust from a sell rating to a hold rating in a report on Thursday, December 6th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. Cedar Realty Trust has a consensus rating of Hold and a consensus target price of $5.38.

NYSE:CDR traded down $0.01 during midday trading on Monday, reaching $3.21. 64,204 shares of the stock traded hands, compared to its average volume of 432,600. Cedar Realty Trust has a 12 month low of $2.73 and a 12 month high of $5.69. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $293.69 million, a P/E ratio of 5.84 and a beta of 0.92.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, November 1st. The real estate investment trust reported $0.04 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.10. Cedar Realty Trust had a net margin of 3.16% and a return on equity of 1.17%. The company had revenue of $36.17 million during the quarter, compared to analyst estimates of $36.41 million. As a group, analysts anticipate that Cedar Realty Trust will post 0.58 EPS for the current year.

In related news, Director Abraham Eisenstat acquired 100,000 shares of the firm’s stock in a transaction on Thursday, December 20th. The stock was acquired at an average cost of $2.87 per share, for a total transaction of $287,000.00. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Bruce J. Schanzer acquired 10,840 shares of the firm’s stock in a transaction on Tuesday, November 27th. The stock was bought at an average price of $3.40 per share, with a total value of $36,856.00. Following the completion of the acquisition, the insider now directly owns 2,111,393 shares in the company, valued at approximately $7,178,736.20. The disclosure for this purchase can be found here. 4.41% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of CDR. Man Group plc raised its holdings 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 worth $7,337,000 after purchasing an additional 1,485,629 shares in the last quarter. BlackRock Inc. grew its position in shares of 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 worth $62,679,000 after buying an additional 1,287,427 shares during the period. Millennium Management LLC grew its position in shares of Cedar Realty Trust by 212.0% in the 2nd quarter. Millennium Management LLC now owns 1,482,783 shares of the real estate investment trust’s stock worth $6,999,000 after buying an additional 1,007,583 shares during the period. Schwab Charles Investment Management Inc. grew its position in shares of Cedar Realty Trust by 43.6% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,509,123 shares of the real estate investment trust’s stock worth $11,844,000 after buying an additional 762,296 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of Cedar Realty Trust by 79.9% in the 3rd quarter. AQR Capital Management LLC now owns 622,977 shares of the real estate investment trust’s stock worth $2,903,000 after buying an additional 276,684 shares during the period. Institutional investors and hedge funds own 91.78% 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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