Goldman Sachs Group Inc. increased its position in shares of Cedar Realty Trust, Inc. (NYSE:CDR) by 53.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 312,600 shares of the real estate investment trust’s stock after buying an additional 108,852 shares during the period. Goldman Sachs Group Inc. owned 0.38% of Cedar Realty Trust worth $1,569,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the stock. Weiss Multi Strategy Advisers LLC bought a new stake in shares of Cedar Realty Trust during the first quarter worth $8,785,000. Kennedy Capital Management Inc. bought a new stake in shares of Cedar Realty Trust during the first quarter worth $6,964,000. Norges Bank bought a new stake in shares of Cedar Realty Trust during the fourth quarter worth $6,764,000. Manning & Napier Advisors LLC bought a new stake in shares of Cedar Realty Trust during the first quarter worth $3,614,000. Finally, Vanguard Group Inc. increased its stake in shares of Cedar Realty Trust by 6.2% in the first quarter. Vanguard Group Inc. now owns 10,857,885 shares of the real estate investment trust’s stock worth $54,507,000 after buying an additional 630,915 shares in the last quarter. 92.13% of the stock is currently owned by institutional investors and hedge funds.
Cedar Realty Trust, Inc. (NYSE CDR) opened at 4.88 on Friday. The stock’s market capitalization is $401.12 million. The company has a 50 day moving average of $5.12 and a 200 day moving average of $5.28. 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 Thomson Reuters’ consensus estimate of $0.14 by $0.24. Cedar Realty Trust had a net margin of 6.58% and a return on equity of 2.49%. The company had revenue of $35.70 million for the quarter, compared to analysts’ expectations of $35.97 million. During the same quarter in the previous year, the company posted $0.15 EPS. The business’s quarterly revenue was down 5.7% on a year-over-year basis. Equities analysts expect that Cedar Realty Trust, Inc. will post $0.06 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.20 dividend on an annualized basis and a yield of 4.10%. Cedar Realty Trust’s payout ratio is -333.28%.
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A number of equities research analysts recently weighed in on CDR shares. TheStreet raised shares of Cedar Realty Trust from a “d+” rating to a “c” rating in a research note on Friday, May 5th. ValuEngine downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research note on Wednesday, July 5th. FBR & Co reissued an “outperform” rating and set a $5.75 price target on shares of Cedar Realty Trust in a research note on Tuesday, July 11th. Finally, BidaskClub downgraded shares of Cedar Realty Trust from a “buy” rating to a “hold” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Cedar Realty Trust presently has an average rating of “Hold” and an average target price of $6.15.
In other Cedar Realty Trust news, Director Paul G. Kirk, Jr. sold 9,759 shares of the stock in a transaction 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 sale, the director now owns 75,874 shares in the company, valued at $370,265.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 4.50% of the company’s stock.
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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