The Cedar Realty Trust Inc. (CDR) Declares Quarterly Dividend of $0.05

The Cedar Realty Trust Inc. (CDR) Declares Quarterly Dividend of $0.05

Cedar Realty Trust Inc. (NYSE:CDR) declared a quarterly dividend on Thursday, January 19th. Shareholders of record on Friday, February 10th will be paid a dividend of 0.05 per share by the real estate investment trust on Tuesday, February 21st. This represents a $0.20 dividend on an annualized basis and a yield of 3.23%. The ex-dividend date is Wednesday, February 8th.

Shares of Cedar Realty Trust (NYSE:CDR) traded down 1.59% on Thursday, reaching $6.20. 597,236 shares of the company’s stock were exchanged. The company’s 50 day moving average is $6.40 and its 200-day moving average is $7.03. Cedar Realty Trust has a one year low of $5.92 and a one year high of $8.08. The stock’s market cap is $508.72 million.

Cedar Realty Trust (NYSE:CDR) last announced its quarterly earnings data on Thursday, November 3rd. The real estate investment trust reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Cedar Realty Trust had a net margin of 8.46% and a return on equity of 3.26%. The business earned $37.79 million during the quarter, compared to analyst estimates of $37.33 million. During the same period last year, the firm posted $0.14 EPS. The company’s revenue was up 4.7% on a year-over-year basis. On average, analysts anticipate that Cedar Realty Trust will post ($0.05) EPS for the current year.

A number of research firms have recently commented on CDR. Zacks Investment Research downgraded Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, October 5th. Wunderlich lowered their target price on Cedar Realty Trust from $8.50 to $7.75 and set a “buy” rating for the company in a research report on Monday, November 7th. KeyCorp downgraded Cedar Realty Trust to an “overweight” rating in a research report on Thursday, December 15th. Finally, Raymond James Financial Inc. reiterated a “market perform” rating on shares of Cedar Realty Trust in a research report on Monday, January 9th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.25.

In related news, Director Abraham Eisenstat purchased 10,000 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average cost of $6.29 per share, for a total transaction of $62,900.00. Following the completion of the transaction, the director now directly owns 36,782 shares in the company, valued at $231,358.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bruce J. Schanzer purchased 5,000 shares of the stock in a transaction that occurred on Monday, November 7th. The stock was bought at an average price of $6.30 per share, with a total value of $31,500.00. Following the completion of the transaction, the insider now owns 2,619,593 shares of the company’s stock, valued at $16,503,435.90. The disclosure for this purchase can be found here. Insiders have bought a total of 20,000 shares of company stock valued at $125,450 over the last quarter. Corporate insiders own 4.42% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Hsbc Holdings PLC increased its stake in shares of Cedar Realty Trust by 0.4% in the second quarter. Hsbc Holdings PLC now owns 18,035 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 79 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Cedar Realty Trust by 1.8% in the second quarter. Arizona State Retirement System now owns 38,983 shares of the real estate investment trust’s stock worth $290,000 after buying an additional 700 shares in the last quarter. Guggenheim Capital LLC increased its stake in shares of Cedar Realty Trust by 10.5% in the second quarter. Guggenheim Capital LLC now owns 14,684 shares of the real estate investment trust’s stock worth $109,000 after buying an additional 1,393 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of Cedar Realty Trust by 1.0% in the third quarter. California State Teachers Retirement System now owns 174,811 shares of the real estate investment trust’s stock worth $1,259,000 after buying an additional 1,700 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its stake in shares of Cedar Realty Trust by 0.3% in the second quarter. Thrivent Financial for Lutherans now owns 750,224 shares of the real estate investment trust’s stock worth $5,574,000 after buying an additional 2,320 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Cedar Realty Trust Company Profile

Cedar Realty Trust, Inc is a real estate investment trust. The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. The Company focuses its investment activities on grocery-anchored shopping centers. It owns and manages a portfolio of approximately 60 operating properties, including approximately 30 properties in Pennsylvania; over eight properties in Massachusetts; approximately seven properties in Connecticut; over six properties in Maryland; approximately eight properties in Virginia; over three properties in New Jersey, and one property in New York.

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