Municipal Employees Retirement System of Michigan boosted its holdings in Cedar Realty Trust, Inc. (NYSE:CDR) by 12.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 95,800 shares of the real estate investment trust’s stock after buying an additional 10,580 shares during the period. Municipal Employees Retirement System of Michigan owned approximately 0.10% of Cedar Realty Trust worth $539,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CDR. BNP Paribas Arbitrage SA boosted its holdings in shares of Cedar Realty Trust by 30.6% during the third quarter. BNP Paribas Arbitrage SA now owns 72,159 shares of the real estate investment trust’s stock valued at $406,000 after acquiring an additional 16,896 shares during the period. Boston Partners grew its stake in Cedar Realty Trust by 14.3% during the 3rd quarter. Boston Partners now owns 1,414,950 shares of the real estate investment trust’s stock valued at $7,952,000 after acquiring an additional 176,680 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Cedar Realty Trust during the 3rd quarter valued at about $100,000. Quantitative Systematic Strategies LLC purchased a new position in Cedar Realty Trust during the 3rd quarter valued at about $193,000. Finally, Verition Fund Management LLC grew its stake in Cedar Realty Trust by 68.3% during the 2nd quarter. Verition Fund Management LLC now owns 22,421 shares of the real estate investment trust’s stock valued at $109,000 after acquiring an additional 9,097 shares in the last quarter. Hedge funds and other institutional investors own 92.67% of the company’s stock.
A number of research analysts recently commented on the company. ValuEngine upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Tuesday, November 7th. B. Riley reiterated a “buy” rating on shares of Cedar Realty Trust in a report on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Cedar Realty Trust in a research report on Friday, November 3rd. Finally, BidaskClub lowered Cedar Realty Trust from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Cedar Realty Trust has a consensus rating of “Hold” and an average price target of $5.94.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings results on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $36.40 million during the quarter, compared to analysts’ expectations of $35.31 million. Cedar Realty Trust had a return on equity of 4.18% and a net margin of 11.42%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS. equities research analysts predict that Cedar Realty Trust, Inc. will post 0.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 20th. Investors of record on Friday, November 10th were given a dividend of $0.05 per share. The ex-dividend date was Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 3.26%. Cedar Realty Trust’s dividend payout ratio is currently -285.71%.
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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