Zacks Investment Research Upgrades Cedar Realty Trust, Inc. (CDR) to “Buy”

Cedar Realty Trust, Inc. (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, November 7th. The brokerage presently has a $6.50 target price on the real estate investment trust’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 7.26% from the stock’s previous close.

According to Zacks, “Cedar Shopping Centers, Inc. is a fully-integrated real estate investment trust which focuses primarily on ownership, operation, development and redevelopment of bread and butter supermarket-anchored shopping centers in coastal mid-Atlantic and New England states. The Company owns and operates shopping center properties which are anchored by supermarkets and/or drugstores. “

A number of other equities research analysts have also recently issued reports on CDR. FBR & Co reaffirmed an “outperform” rating and issued a $5.75 price objective on shares of Cedar Realty Trust in a research note on Tuesday, July 11th. BidaskClub raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Boenning Scattergood set a $5.00 price target on shares of Cedar Realty Trust and gave the company a “sell” rating in a research report on Monday, August 7th. ValuEngine raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Finally, KeyCorp reissued a “hold” rating on shares of Cedar Realty Trust in a research report on Wednesday, October 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. Cedar Realty Trust currently has a consensus rating of “Hold” and an average target price of $5.81.

Cedar Realty Trust (NYSE CDR) traded up $0.09 during midday trading on Tuesday, hitting $6.06. 330,214 shares of the stock traded hands, compared to its average volume of 565,521. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.49. The company has a market capitalization of $553.38, a price-to-earnings ratio of 10.82 and a beta of 0.93. Cedar Realty Trust has a one year low of $4.70 and a one year high of $6.79.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.01. Cedar Realty Trust had a net margin of 11.42% and a return on equity of 4.18%. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $35.31 million. During the same quarter in the previous year, the company earned $0.15 EPS. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. equities research analysts expect that Cedar Realty Trust will post 0.55 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Crossmark Global Holdings Inc. purchased a new position in shares of Cedar Realty Trust in the third quarter worth approximately $100,000. Susquehanna International Group LLP purchased a new position in shares of Cedar Realty Trust in the second quarter worth approximately $103,000. Verition Fund Management LLC boosted its holdings in shares of Cedar Realty Trust by 68.3% in the second quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 9,097 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Cedar Realty Trust by 50.3% in the first quarter. OppenheimerFunds Inc. now owns 22,840 shares of the real estate investment trust’s stock worth $114,000 after buying an additional 7,648 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Cedar Realty Trust by 93.6% in the third quarter. SG Americas Securities LLC now owns 24,776 shares of the real estate investment trust’s stock worth $139,000 after buying an additional 11,981 shares during the last quarter. 91.75% of the stock is currently owned by hedge funds and other institutional investors.

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About Cedar Realty Trust

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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Analyst Recommendations for Cedar Realty Trust (NYSE:CDR)

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