Zacks: Analysts Anticipate Cedar Realty Trust, Inc. (NYSE:CDR) to Post $0.55 EPS

Equities analysts expect that Cedar Realty Trust, Inc. (NYSE:CDR) will report earnings of $0.55 per share for the current quarter, according to Zacks. Three analysts have issued estimates for Cedar Realty Trust’s earnings. The lowest EPS estimate is $0.54 and the highest is $0.55. Cedar Realty Trust posted earnings per share of $0.59 during the same quarter last year, which would indicate a negative year over year growth rate of 6.8%. The firm is scheduled to announce its next quarterly earnings report on Thursday, November 4th.

On average, analysts expect that Cedar Realty Trust will report full-year earnings of $2.30 per share for the current financial year, with EPS estimates ranging from $2.28 to $2.32. For the next financial year, analysts expect that the company will report earnings of $2.30 per share, with EPS estimates ranging from $2.20 to $2.43. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Cedar Realty Trust.

Cedar Realty Trust (NYSE:CDR) last released its earnings results on Thursday, July 29th. The real estate investment trust reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $2.88. Cedar Realty Trust had a return on equity of 17.47% and a net margin of 45.65%.

CDR has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, August 4th. Raymond James increased their target price on Cedar Realty Trust from $18.00 to $21.00 and gave the company an “outperform” rating in a research note on Tuesday, August 17th. Finally, B. Riley boosted their price target on Cedar Realty Trust from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, September 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

CDR stock traded up $0.10 during trading on Friday, hitting $22.50. 79,210 shares of the stock traded hands, compared to its average volume of 66,282. The stock has a market cap of $308.05 million, a price-to-earnings ratio of 6.40 and a beta of 1.61. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.65 and a quick ratio of 0.65. Cedar Realty Trust has a 1 year low of $4.62 and a 1 year high of $23.84. The firm’s 50 day moving average is $18.09 and its two-hundred day moving average is $16.34.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 20th. Investors of record on Tuesday, August 10th were given a dividend of $0.066 per share. The ex-dividend date of this dividend was Monday, August 9th. This represents a $0.26 dividend on an annualized basis and a yield of 1.17%. Cedar Realty Trust’s dividend payout ratio (DPR) is 9.03%.

Several hedge funds have recently added to or reduced their stakes in the company. Millennium Management LLC lifted its stake in shares of Cedar Realty Trust by 101.7% in the 1st quarter. Millennium Management LLC now owns 240,483 shares of the real estate investment trust’s stock worth $3,583,000 after purchasing an additional 121,277 shares during the period. LSV Asset Management raised its position in Cedar Realty Trust by 12.3% in the second quarter. LSV Asset Management now owns 524,971 shares of the real estate investment trust’s stock worth $8,840,000 after acquiring an additional 57,443 shares during the period. State Street Corp purchased a new position in shares of Cedar Realty Trust during the 2nd quarter worth $769,000. Price T Rowe Associates Inc. MD grew its position in shares of Cedar Realty Trust by 1.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,442,479 shares of the real estate investment trust’s stock valued at $36,393,000 after acquiring an additional 41,184 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Cedar Realty Trust by 66.1% in the 1st quarter. Acadian Asset Management LLC now owns 78,814 shares of the real estate investment trust’s stock worth $1,174,000 after purchasing an additional 31,350 shares in the last quarter. Hedge funds and other institutional investors own 41.07% of the company’s stock.

About Cedar Realty Trust

Cedar Realty Trust, Inc operates as a real estate investment trust, which engages in the ownership, operation, and redevelopment of grocery-anchored shopping centers. It also maintains property management, construction management and/or leasing offices at several of its shopping-center properties. The company was founded in 1984 and is headquartered in Port Washington, NY.

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Earnings History and Estimates for Cedar Realty Trust (NYSE:CDR)

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