Zacks: Brokerages Anticipate Cedar Realty Trust Inc (NYSE:CDR) to Announce $0.11 EPS
Equities research analysts predict that Cedar Realty Trust Inc (NYSE:CDR) will announce earnings per share of $0.11 for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Cedar Realty Trust’s earnings. The highest EPS estimate is $0.12 and the lowest is $0.11. Cedar Realty Trust reported earnings of $0.19 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 42.1%. The company is expected to report its next earnings results on Thursday, August 1st.
On average, analysts expect that Cedar Realty Trust will report full year earnings of $0.45 per share for the current financial year, with EPS estimates ranging from $0.45 to $0.46. For the next year, analysts expect that the company will report earnings of $0.46 per share, with EPS estimates ranging from $0.43 to $0.47. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings data on Thursday, May 2nd. The real estate investment trust reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.10. Cedar Realty Trust had a return on equity of 5.85% and a net margin of 15.49%. The business had revenue of $36.88 million for the quarter, compared to analysts’ expectations of $36.57 million.
In related news, insider Bruce J. Schanzer sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $3.14, for a total transaction of $31,400.00. Following the sale, the insider now directly owns 2,272,343 shares in the company, valued at $7,135,157.02. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 4.51% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC boosted its holdings in shares of Cedar Realty Trust by 114.5% during the 1st quarter. AQR Capital Management LLC now owns 1,518,187 shares of the real estate investment trust’s stock worth $5,162,000 after buying an additional 810,550 shares during the period. Millennium Management LLC increased its position in Cedar Realty Trust by 68.7% during the 4th quarter. Millennium Management LLC now owns 1,101,047 shares of the real estate investment trust’s stock worth $3,457,000 after purchasing an additional 448,250 shares in the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Cedar Realty Trust during the 4th quarter worth approximately $1,352,000. WINTON GROUP Ltd acquired a new position in Cedar Realty Trust during the 4th quarter worth approximately $1,176,000. Finally, FMR LLC increased its position in Cedar Realty Trust by 8.6% in the 4th quarter. FMR LLC now owns 4,140,727 shares of the real estate investment trust’s stock valued at $13,002,000 after acquiring an additional 328,844 shares during the period. 90.03% of the stock is owned by institutional investors.
Cedar Realty Trust stock traded up $0.02 during midday trading on Friday, reaching $2.86. The stock had a trading volume of 784 shares, compared to its average volume of 334,519. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.64. Cedar Realty Trust has a twelve month low of $2.72 and a twelve month high of $5.34. The stock has a market capitalization of $245.71 million, a P/E ratio of 4.91 and a beta of 0.96.
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 10th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 6.99%. Cedar Realty Trust’s payout ratio is 34.48%.
Cedar Realty Trust Company Profile
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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