Legal & General Group Plc increased its position in shares of Cedar Realty Trust, Inc. (NYSE:CDR) by 7.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,011 shares of the real estate investment trust’s stock after buying an additional 22,883 shares during the period. Legal & General Group Plc owned approximately 0.40% of Cedar Realty Trust worth $1,637,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in shares of Cedar Realty Trust by 5.6% in the fourth quarter. State Street Corp now owns 2,949,682 shares of the real estate investment trust’s stock valued at $19,260,000 after buying an additional 157,339 shares during the period. Bank of New York Mellon Corp increased its position in shares of Cedar Realty Trust by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 1,193,009 shares of the real estate investment trust’s stock valued at $5,989,000 after buying an additional 31,038 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Cedar Realty Trust by 7.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,085,185 shares of the real estate investment trust’s stock valued at $7,086,000 after buying an additional 71,436 shares during the period. Norges Bank acquired a new position in shares of Cedar Realty Trust during the fourth quarter valued at $6,764,000. Finally, Manning & Napier Advisors LLC purchased a new stake in Cedar Realty Trust during the first quarter worth approximately $3,614,000. Institutional investors own 97.45% of the company’s stock.
Shares of Cedar Realty Trust, Inc. (NYSE:CDR) opened at 5.32 on Wednesday. Cedar Realty Trust, Inc. has a one year low of $4.70 and a one year high of $7.98. The firm has a market capitalization of $437.21 million, a P/E ratio of 115.65 and a beta of 0.89. The company has a 50-day moving average price of $5.05 and a 200 day moving average price of $5.35.
Cedar Realty Trust (NYSE:CDR) last announced its earnings results on Friday, August 4th. The real estate investment trust reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.14 by $0.24. The firm had revenue of $35.70 million during the quarter, compared to the consensus estimate of $35.97 million. Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. The business’s revenue was down 5.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. Analysts expect that Cedar Realty Trust, Inc. will post $0.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.20 annualized dividend and a dividend yield of 3.76%. Cedar Realty Trust’s payout ratio is -333.28%.
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CDR has been the subject of a number of research analyst reports. TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c” rating in a report on Friday, May 5th. ValuEngine downgraded Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a report on Wednesday, July 5th. FBR & Co restated an “outperform” rating and set a $5.75 price objective on shares of Cedar Realty Trust in a report on Tuesday, July 11th. Finally, BidaskClub downgraded Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $6.15.
In other news, Director Paul G. Kirk, Jr. sold 9,759 shares of the business’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $4.88, for a total transaction of $47,623.92. Following the transaction, the director now owns 75,874 shares in the company, valued at approximately $370,265.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.
Cedar Realty Trust Company 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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