Short Interest in Cedar Realty Trust, Inc. (CDR) Decreases By 52.8%
Cedar Realty Trust, Inc. (NYSE:CDR) was the recipient of a large decrease in short interest in August. As of August 15th, there was short interest totalling 2,847,733 shares, a decrease of 52.8% from the July 31st total of 6,035,202 shares. Based on an average daily volume of 463,136 shares, the short-interest ratio is currently 6.1 days. Approximately 3.5% of the shares of the company are sold short.
In related news, Director Paul G. Kirk, Jr. sold 9,759 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total value of $47,623.92. Following the completion of the transaction, the director now owns 75,874 shares of the company’s stock, valued at approximately $370,265.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.50% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Weiss Multi Strategy Advisers LLC bought a new stake in Cedar Realty Trust during the first quarter worth approximately $8,785,000. Kennedy Capital Management Inc. bought a new stake in Cedar Realty Trust during the first quarter worth approximately $6,964,000. Deprince Race & Zollo Inc. boosted its stake in Cedar Realty Trust by 124.3% in the second quarter. Deprince Race & Zollo Inc. now owns 1,832,679 shares of the real estate investment trust’s stock worth $8,888,000 after buying an additional 1,015,607 shares in the last quarter. LSV Asset Management boosted its stake in Cedar Realty Trust by 1,820.0% in the second quarter. LSV Asset Management now owns 1,009,900 shares of the real estate investment trust’s stock worth $4,898,000 after buying an additional 957,300 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new stake in Cedar Realty Trust during the second quarter worth approximately $3,684,000. 92.21% of the stock is owned by institutional investors and hedge funds.
Cedar Realty Trust (NYSE:CDR) opened at 5.06 on Friday. The firm’s 50 day moving average is $5.12 and its 200 day moving average is $5.20. The company’s market cap is $415.92 million. Cedar Realty Trust has a 12-month low of $4.70 and a 12-month high of $7.98.
Cedar Realty Trust (NYSE:CDR) last released its earnings results on Friday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by $0.24. The company had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $35.97 million. Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 EPS. Equities research analysts anticipate that Cedar Realty Trust will post $0.06 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 11th were paid a dividend of $0.05 per share. The ex-dividend date was Wednesday, August 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.95%. Cedar Realty Trust’s dividend payout ratio is currently -333.28%.
Several research analysts recently weighed in on CDR shares. BidaskClub raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. Zacks Investment Research raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $5.75 target price for the company in a report on Wednesday, July 5th. ValuEngine downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. FBR & Co reaffirmed an “outperform” rating and issued a $5.75 target price on shares of Cedar Realty Trust in a report on Tuesday, July 11th. Finally, Boenning Scattergood set a $5.00 target price on shares of Cedar Realty Trust and gave the stock a “sell” rating in a report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. Cedar Realty Trust has an average rating of “Hold” and an average target price of $6.15.
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About Cedar Realty Trust
Cedar Realty Trust, Inc is a real estate investment trust (REIT). The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. As of December 31, 2016, the Company owned and managed a portfolio of 61 operating properties (excluding properties held for sale) totaling approximately 9.1 million square feet of gross leasable area (GLA).
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