Metropolitan Life Insurance Co. NY Raises Position in Cedar Realty Trust Inc (CDR)

Metropolitan Life Insurance Co. NY boosted its holdings in Cedar Realty Trust Inc (NYSE:CDR) by 273.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,771 shares of the real estate investment trust’s stock after acquiring an additional 31,316 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Cedar Realty Trust were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Cedar Realty Trust by 1.0% in the 4th quarter. Victory Capital Management Inc. now owns 374,250 shares of the real estate investment trust’s stock valued at $1,175,000 after acquiring an additional 3,550 shares during the last quarter. Principal Financial Group Inc. grew its stake in Cedar Realty Trust by 0.5% in the 4th quarter. Principal Financial Group Inc. now owns 727,485 shares of the real estate investment trust’s stock valued at $2,284,000 after acquiring an additional 3,850 shares during the last quarter. State of Alaska Department of Revenue grew its stake in Cedar Realty Trust by 7.8% in the 4th quarter. State of Alaska Department of Revenue now owns 58,291 shares of the real estate investment trust’s stock valued at $181,000 after acquiring an additional 4,194 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in Cedar Realty Trust by 58.4% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,635 shares of the real estate investment trust’s stock valued at $55,000 after acquiring an additional 6,500 shares during the last quarter. Finally, M&T Bank Corp grew its stake in Cedar Realty Trust by 5.3% in the 4th quarter. M&T Bank Corp now owns 132,399 shares of the real estate investment trust’s stock valued at $416,000 after acquiring an additional 6,676 shares during the last quarter. 90.26% of the stock is currently owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research raised shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Monday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $5.00.

Cedar Realty Trust stock opened at $3.12 on Friday. Cedar Realty Trust Inc has a 12-month low of $2.73 and a 12-month high of $5.34. The stock has a market cap of $277.84 million, a price-to-earnings ratio of 5.38 and a beta of 1.04. The company has a debt-to-equity ratio of 1.57, a quick ratio of 0.92 and a current ratio of 0.92.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, February 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.11). Cedar Realty Trust had a return on equity of 0.96% and a net margin of 2.56%. The firm had revenue of $36.93 million for the quarter, compared to analyst estimates of $35.99 million. As a group, equities research analysts expect that Cedar Realty Trust Inc will post 0.45 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.20 annualized dividend and a dividend yield of 6.41%. Cedar Realty Trust’s dividend payout ratio is currently 34.48%.

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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.

Further Reading: Average Daily Trade Volume Explained

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Institutional Ownership by Quarter for Cedar Realty Trust (NYSE:CDR)

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