Cedar Realty Trust Inc (CDR) Stake Increased by BlackRock Inc.
BlackRock Inc. boosted its position in shares of Cedar Realty Trust Inc (NYSE:CDR) by 0.6% in the second quarter, HoldingsChannel.com reports. The fund owned 12,163,043 shares of the real estate investment trust’s stock after acquiring an additional 73,036 shares during the quarter. BlackRock Inc. owned about 0.13% of Cedar Realty Trust worth $57,409,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan lifted its position in Cedar Realty Trust by 40.5% during 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 acquiring an additional 12,600 shares during the period. Element Capital Management LLC acquired a new stake in Cedar Realty Trust during the 1st quarter worth about $210,000. Jane Street Group LLC lifted its position in Cedar Realty Trust by 408.7% during the 1st quarter. Jane Street Group LLC now owns 56,818 shares of the real estate investment trust’s stock worth $224,000 after acquiring an additional 45,648 shares during the period. SG Americas Securities LLC lifted its position in Cedar Realty Trust by 395.5% during the 2nd quarter. SG Americas Securities LLC now owns 74,070 shares of the real estate investment trust’s stock worth $350,000 after acquiring an additional 59,121 shares during the period. Finally, New York State Common Retirement Fund lifted its position in Cedar Realty Trust by 18.5% during the 1st quarter. New York State Common Retirement Fund now owns 92,100 shares of the real estate investment trust’s stock worth $363,000 after acquiring an additional 14,400 shares during the period. 92.91% of the stock is owned by institutional investors.
A number of brokerages have commented on CDR. ValuEngine cut Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. TheStreet raised Cedar Realty Trust from a “d+” rating to a “c-” rating in a research report on Friday, August 3rd. Finally, Zacks Investment Research cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.38.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings results on Thursday, August 2nd. The real estate investment trust reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.18 by ($0.10). Cedar Realty Trust had a return on equity of 1.20% and a net margin of 3.25%. The firm had revenue of $41.35 million for the quarter, compared to analyst estimates of $40.59 million. As a group, equities research analysts expect that Cedar Realty Trust Inc will post 0.59 earnings per share for the current year.
In other news, CFO Philip Mays sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 7th. The stock was sold at an average price of $4.56, for a total value of $114,000.00. Following the completion of the transaction, the chief financial officer now owns 444,992 shares of the company’s stock, valued at approximately $2,029,163.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 4.41% 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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