Cedar Realty Trust Inc (CDR) Receives Average Rating of “Hold” from Brokerages
Cedar Realty Trust Inc (NYSE:CDR) has been assigned a consensus recommendation of “Hold” from the eight brokerages that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $5.17.
CDR has been the topic of several recent analyst reports. Zacks Investment Research downgraded Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Tuesday, July 24th. ValuEngine raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Friday, June 1st. Boenning Scattergood set a $4.00 target price on Cedar Realty Trust and gave the company a “sell” rating in a research note on Monday, May 7th. Finally, TheStreet raised Cedar Realty Trust from a “d+” rating to a “c-” rating in a research note on Friday, August 3rd.
Shares of NYSE CDR traded up $0.06 during trading on Tuesday, hitting $4.58. The company had a trading volume of 269,544 shares, compared to its average volume of 505,911. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.54. Cedar Realty Trust has a 12 month low of $3.54 and a 12 month high of $6.29. The company has a market capitalization of $405.89 million, a P/E ratio of 8.33 and a beta of 0.87.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 20th. Investors of record on Friday, August 10th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 4.37%. The ex-dividend date is Thursday, August 9th. Cedar Realty Trust’s dividend payout ratio (DPR) is presently 36.36%.
In other Cedar Realty Trust news, insider Bruce J. Schanzer sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $4.46, for a total transaction of $133,800.00. Following the completion of the transaction, the insider now owns 2,103,593 shares in the company, valued at approximately $9,382,024.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Philip Mays sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 7th. The shares were sold at an average price of $4.56, for a total value of $114,000.00. Following the transaction, the chief financial officer now owns 444,992 shares of the company’s stock, valued at approximately $2,029,163.52. The disclosure for this sale can be found here. Company insiders own 4.41% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stevens Capital Management LP purchased a new position in shares of Cedar Realty Trust in the 1st quarter worth approximately $124,000. Sterling Capital Management LLC purchased a new position in shares of Cedar Realty Trust in the 2nd quarter worth approximately $159,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Cedar Realty Trust by 44.9% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 42,310 shares of the real estate investment trust’s stock worth $200,000 after purchasing an additional 13,120 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Cedar Realty Trust by 40.5% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 43,710 shares of the real estate investment trust’s stock worth $207,000 after purchasing an additional 12,600 shares during the period. Finally, Element Capital Management LLC purchased a new position in shares of Cedar Realty Trust in the 1st quarter worth approximately $210,000. Institutional investors and hedge funds own 92.70% 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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