California Public Employees Retirement System increased its stake in Cedar Realty Trust, Inc. (NYSE:CDR) by 4.4% during the first quarter, Holdings Channel reports. The firm owned 229,000 shares of the real estate investment trust’s stock after buying an additional 9,600 shares during the period. California Public Employees Retirement System’s holdings in Cedar Realty Trust were worth $1,150,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Cedar Realty Trust during the fourth quarter valued at $6,764,000. HGI Capital Management LLC acquired a new stake in shares of Cedar Realty Trust during the first quarter valued at about $628,000. M&T Bank Corp acquired a new stake in shares of Cedar Realty Trust during the first quarter valued at about $628,000. DUPONT CAPITAL MANAGEMENT Corp acquired a new stake in shares of Cedar Realty Trust during the first quarter valued at about $430,000. Finally, Dimensional Fund Advisors LP boosted its stake 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 in the last quarter. 97.45% of the stock is owned by institutional investors.
Shares of Cedar Realty Trust, Inc. (NYSE CDR) traded down 2.591% during mid-day trading on Friday, reaching $5.075. 122,319 shares of the company traded hands. The company’s market capitalization is $417.15 million. The firm’s 50 day moving average price is $5.09 and its 200-day moving average price is $5.32. Cedar Realty Trust, Inc. has a 52-week low of $4.70 and a 52-week high of $7.98.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Friday, August 4th. The real estate investment trust reported ($0.10) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.24. The company had revenue of $35.70 million during the quarter, compared to analysts’ expectations of $35.97 million. Cedar Realty Trust had a return on equity of 2.49% and a net margin of 6.58%. The firm’s revenue was down 5.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 EPS. Equities analysts predict that Cedar Realty Trust, Inc. will post $0.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date of this dividend is Wednesday, August 9th. Cedar Realty Trust’s dividend payout ratio is presently -333.28%.
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Several brokerages have recently issued reports on CDR. Zacks Investment Research cut shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday. BidaskClub cut shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Tuesday. FBR & Co increased their price target on shares of Cedar Realty Trust from $5.75 to $6.25 and gave the stock an “outperform” rating in a research report on Tuesday. Boenning Scattergood set a $5.00 price target on shares of Cedar Realty Trust and gave the stock a “sell” rating in a research report on Monday. Finally, ValuEngine cut shares of 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 issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $6.15.
In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the company’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 completion of the transaction, the director now owns 75,874 shares in the company, valued at approximately $370,265.12. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.50% of the stock is owned by corporate insiders.
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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