Cedar Realty Trust (CDR) Lifted to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Cedar Realty Trust (NYSE:CDR) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Cedar Realty Trust, Inc. is a real estate investment trust which owns a portfolio of predominantly grocery-anchored shopping centers in high-density urban markets from D.C. to Boston. Cedar Realty Trust Inc, formerly known as Cedar Shopn Ctr, is based in Port Washington, NY. “

Shares of NYSE:CDR opened at $3.18 on Tuesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.57. Cedar Realty Trust has a 52-week low of $2.73 and a 52-week high of $5.34. The firm has a market capitalization of $285.85 million, a PE ratio of 5.48 and a beta of 1.04.

Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.02 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.13 by ($0.11). Cedar Realty Trust had a net margin of 2.56% and a return on equity of 0.96%. The company had revenue of $36.93 million during the quarter, compared to analysts’ expectations of $35.99 million. On average, equities analysts anticipate that Cedar Realty Trust will post 0.45 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Deutsche Bank AG lifted its position in shares of Cedar Realty Trust by 93.3% in the fourth quarter. Deutsche Bank AG now owns 350,921 shares of the real estate investment trust’s stock valued at $1,099,000 after acquiring an additional 169,384 shares in the last quarter. OMERS ADMINISTRATION Corp purchased a new stake in shares of Cedar Realty Trust in the fourth quarter valued at $80,000. FMR LLC increased its stake in Cedar Realty Trust by 8.6% in the fourth quarter. FMR LLC now owns 4,140,727 shares of the real estate investment trust’s stock valued at $13,002,000 after purchasing an additional 328,844 shares during the last quarter. Millennium Management LLC increased its stake in Cedar Realty Trust by 68.7% in the fourth quarter. Millennium Management LLC now owns 1,101,047 shares of the real estate investment trust’s stock valued at $3,457,000 after purchasing an additional 448,250 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Cedar Realty Trust by 2.9% during the fourth quarter. Legal & General Group Plc now owns 192,510 shares of the real estate investment trust’s stock worth $605,000 after acquiring an additional 5,500 shares during the last quarter. Institutional investors and hedge funds own 90.26% of the company’s stock.

About Cedar Realty Trust

Cedar Realty Trust, Inc is a fully-integrated real estate investment trust which focuses on the ownership, operation and redevelopment of grocery-anchored shopping centers in high-density urban markets from Washington, DC to Boston. The Company's portfolio (excluding properties treated as "held for sale") comprises 58 properties, with approximately 8.7 million square feet of gross leasable area.

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