Cedar Realty Trust (CDR) Hits New 12-Month Low After Earnings Miss

Cedar Realty Trust Inc (NYSE:CDR) shares hit a new 52-week low during trading on Thursday following a weaker than expected earnings announcement. The stock traded as low as $4.57 and last traded at $4.54, with a volume of 497248 shares traded. The stock had previously closed at $4.66.

The real estate investment trust reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.11). The firm had revenue of $37.14 million during the quarter, compared to analysts’ expectations of $37.06 million. Cedar Realty Trust had a net margin of 13.11% and a return on equity of 4.77%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the business earned $0.14 EPS.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Monday, February 12th will be given a $0.05 dividend. The ex-dividend date is Friday, February 9th. This represents a $0.20 annualized dividend and a dividend yield of 4.43%. Cedar Realty Trust’s dividend payout ratio (DPR) is presently -666.67%.

Several equities analysts have recently weighed in on CDR shares. B. Riley restated a “buy” rating on shares of Cedar Realty Trust in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Friday, January 12th. KeyCorp reiterated a “hold” rating on shares of Cedar Realty Trust in a research report on Friday, November 3rd. ValuEngine upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating in a research report on Friday, December 15th. Finally, Raymond James Financial reiterated a “hold” rating on shares of Cedar Realty Trust in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Cedar Realty Trust has an average rating of “Hold” and an average price target of $5.81.

Institutional investors have recently made changes to their positions in the stock. Crossmark Global Holdings Inc. purchased a new position in Cedar Realty Trust during the third quarter worth approximately $100,000. Susquehanna International Group LLP purchased a new position in Cedar Realty Trust during the second quarter worth approximately $103,000. Verition Fund Management LLC lifted its position in Cedar Realty Trust by 68.3% during 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 in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Cedar Realty Trust during the fourth quarter worth approximately $118,000. Finally, SG Americas Securities LLC lifted its position in Cedar Realty Trust by 93.6% during 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 in the last quarter. Hedge funds and other institutional investors own 93.81% of the company’s stock.

The firm has a market capitalization of $411.84, a PE ratio of -150.33 and a beta of 0.75. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 1.49.

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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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