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

Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, 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. “

Separately, ValuEngine raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th.

Shares of NYSE:CDR opened at $2.34 on Wednesday. The stock has a market cap of $218.10 million, a price-to-earnings ratio of 4.03 and a beta of 0.88. Cedar Realty Trust has a 12 month low of $2.33 and a 12 month high of $4.74. The stock’s 50 day moving average price is $2.53 and its 200 day moving average price is $3.04. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.50 and a quick ratio of 0.50.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, August 1st. The real estate investment trust reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.08). The company had revenue of $35.66 million during the quarter, compared to the consensus estimate of $35.77 million. Cedar Realty Trust had a net margin of 13.08% and a return on equity of 4.86%. On average, sell-side analysts expect that Cedar Realty Trust will post 0.45 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nuveen Asset Management LLC acquired a new position in Cedar Realty Trust during the 2nd quarter worth $4,505,000. Victory Capital Management Inc. lifted its position in Cedar Realty Trust by 11.2% during the 2nd quarter. Victory Capital Management Inc. now owns 513,250 shares of the real estate investment trust’s stock worth $1,360,000 after acquiring an additional 51,900 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in Cedar Realty Trust by 20.8% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 882,076 shares of the real estate investment trust’s stock worth $2,338,000 after acquiring an additional 151,684 shares during the last quarter. Cubist Systematic Strategies LLC lifted its position in Cedar Realty Trust by 90.2% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 25,190 shares of the real estate investment trust’s stock worth $67,000 after acquiring an additional 11,945 shares during the last quarter. Finally, Morgan Stanley lifted its position in Cedar Realty Trust by 71.3% during the 2nd quarter. Morgan Stanley now owns 471,800 shares of the real estate investment trust’s stock worth $1,248,000 after acquiring an additional 196,387 shares during the last quarter. 89.08% of the stock is currently owned by institutional investors.

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.

Recommended Story: Limitations to arbitrage trading

Get a free copy of the Zacks research report on Cedar Realty Trust (CDR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Cedar Realty Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Cedar Realty Trust and related companies with MarketBeat.com's FREE daily email newsletter.