Cedar Realty Trust (NYSE:CDR) Downgraded by Zacks Investment Research to Hold
Cedar Realty Trust (NYSE:CDR – Get Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday, 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. “
CDR has been the subject of several other research reports. Raymond James cut shares of Cedar Realty Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 8th. TheStreet raised shares of Cedar Realty Trust from a “d+” rating to a “c-” rating in a report on Friday, April 1st. B. Riley lifted their price objective on shares of Cedar Realty Trust from $26.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, March 3rd. Finally, StockNews.com cut shares of Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 25th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $26.67.
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Shares of Cedar Realty Trust stock traded down $0.11 during trading on Friday, hitting $26.70. 96,389 shares of the company’s stock were exchanged, compared to its average volume of 229,590. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.62 and a current ratio of 0.62. The business has a 50-day simple moving average of $27.59 and a 200-day simple moving average of $25.35. Cedar Realty Trust has a 52-week low of $14.19 and a 52-week high of $28.68. The stock has a market capitalization of $364.19 million, a price-to-earnings ratio of -5.92 and a beta of 1.30.
In related news, insider Bruce J. Schanzer sold 25,000 shares of the business’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $28.00, for a total transaction of $700,000.00. Following the transaction, the insider now directly owns 378,187 shares in the company, valued at $10,589,236. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.10% of the company’s stock.
A number of large investors have recently bought and sold shares of CDR. JPMorgan Chase & Co. lifted its holdings in shares of Cedar Realty Trust by 2,778.4% in the 1st quarter. JPMorgan Chase & Co. now owns 397,196 shares of the real estate investment trust’s stock worth $10,978,000 after acquiring an additional 383,397 shares during the last quarter. Ergoteles LLC acquired a new position in shares of Cedar Realty Trust in the 1st quarter worth approximately $7,570,000. Goldman Sachs Group Inc. acquired a new position in shares of Cedar Realty Trust in the 1st quarter worth approximately $7,172,000. Gabelli Funds LLC acquired a new position in shares of Cedar Realty Trust in the 1st quarter worth approximately $3,994,000. Finally, Vazirani Asset Management LLC acquired a new position in shares of Cedar Realty Trust in the 1st quarter worth approximately $3,731,000. Institutional investors own 50.80% of the company’s stock.
About Cedar Realty Trust (Get Rating)
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 54 properties, with approximately 8.1 million square feet of gross leasable area.
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