Cedar Realty Trust (NYSE:CDR) Downgraded by Zacks Investment Research to Hold

Zacks Investment Research downgraded shares of Cedar Realty Trust (NYSE:CDR) from a buy rating to a hold rating in a research report sent to investors 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. “

Several other equities analysts have also commented on the company. Compass Point began coverage on Cedar Realty Trust in a report on Thursday, August 15th. They set a sell rating and a $2.00 target price for the company. ValuEngine raised Cedar Realty Trust from a sell rating to a hold rating in a report on Tuesday, August 6th.

Shares of NYSE:CDR traded down $0.31 during trading on Tuesday, hitting $2.77. 506,101 shares of the company traded hands, compared to its average volume of 339,055. The stock has a market capitalization of $294.65 million, a price-to-earnings ratio of 4.78 and a beta of 0.91. The business’s fifty day moving average is $3.13 and its 200-day moving average is $2.82. Cedar Realty Trust has a one year low of $2.19 and a one year high of $3.95. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.72.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 8th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 7.22%. The ex-dividend date is Thursday, November 7th. Cedar Realty Trust’s dividend payout ratio (DPR) is 34.48%.

In related news, CFO Philip Mays sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $3.01, for a total value of $75,250.00. Following the completion of the transaction, the chief financial officer now directly owns 609,024 shares of the company’s stock, valued at approximately $1,833,162.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.51% of the company’s stock.

A number of hedge funds have recently modified their holdings of CDR. Crossmark Global Holdings Inc. bought a new position in Cedar Realty Trust in the 2nd quarter worth approximately $29,000. State of Alaska Department of Revenue grew its holdings in Cedar Realty Trust by 7.7% in the 2nd quarter. State of Alaska Department of Revenue now owns 62,563 shares of the real estate investment trust’s stock worth $164,000 after buying an additional 4,495 shares in the last quarter. Quantitative Systematic Strategies LLC grew its holdings in Cedar Realty Trust by 145.7% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 38,633 shares of the real estate investment trust’s stock worth $102,000 after buying an additional 22,910 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Cedar Realty Trust by 74.6% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 97,356 shares of the real estate investment trust’s stock worth $258,000 after buying an additional 41,597 shares in the last quarter. Finally, GSA Capital Partners LLP grew its holdings in Cedar Realty Trust by 23.4% in the 2nd quarter. GSA Capital Partners LLP now owns 161,939 shares of the real estate investment trust’s stock worth $429,000 after buying an additional 30,717 shares in the last quarter. 89.14% of the stock is owned by institutional investors and hedge funds.

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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