Arizona State Retirement System boosted its holdings in Cedar Realty Trust, Inc. (NYSE:CDR) by 0.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,683 shares of the real estate investment trust’s stock after buying an additional 100 shares during the quarter. Arizona State Retirement System’s holdings in Cedar Realty Trust were worth $192,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in Cedar Realty Trust by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 10,857,885 shares of the real estate investment trust’s stock worth $54,507,000 after buying an additional 630,915 shares during the last quarter. State Street Corp raised its position in Cedar Realty Trust by 6.6% in the 1st quarter. State Street Corp now owns 3,143,559 shares of the real estate investment trust’s stock worth $15,785,000 after buying an additional 193,877 shares during the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in Cedar Realty Trust in the 1st quarter worth about $8,785,000. Kennedy Capital Management Inc. purchased a new position in Cedar Realty Trust in the 1st quarter worth about $6,964,000. Finally, Bank of New York Mellon Corp raised its position in Cedar Realty Trust by 2.7% in the 1st quarter. Bank of New York Mellon Corp now owns 1,193,009 shares of the real estate investment trust’s stock worth $5,989,000 after buying an additional 31,038 shares during the last quarter. 92.21% of the stock is owned by institutional investors and hedge funds.
Shares of Cedar Realty Trust, Inc. (NYSE CDR) opened at 5.20 on Wednesday. The firm’s 50 day moving average price is $5.12 and its 200-day moving average price is $5.15. The company’s market capitalization is $427.42 million. Cedar Realty Trust, Inc. has a 1-year low of $4.70 and a 1-year high of $7.56.
Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings results on Friday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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 net margin of 6.58% and a return on equity of 2.49%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 earnings per share. Analysts expect that Cedar Realty Trust, Inc. will post $0.06 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Shareholders of record on Friday, August 11th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.85%. The ex-dividend date was Wednesday, August 9th. Cedar Realty Trust’s payout ratio is currently -333.28%.
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In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the firm’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $4.88, for a total value of $47,623.92. Following the sale, the director now directly owns 75,874 shares of the company’s stock, valued at $370,265.12. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 4.50% of the stock is currently owned by company insiders.
A number of brokerages have weighed in on CDR. Zacks Investment Research lowered Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. FBR & Co reissued an “outperform” rating and issued a $5.75 target price on shares of Cedar Realty Trust in a research report on Tuesday, July 11th. BidaskClub lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Boenning Scattergood set a $5.00 target price on Cedar Realty Trust and gave the stock a “sell” rating in a research report on Monday, August 7th. Finally, ValuEngine lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Two 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 stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.15.
Cedar Realty Trust Profile
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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