Wall Street brokerages forecast that Cedar Realty Trust Inc (NYSE:CDR) will announce earnings per share (EPS) of $0.17 for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Cedar Realty Trust’s earnings, with the lowest EPS estimate coming in at $0.13 and the highest estimate coming in at $0.18. Cedar Realty Trust reported earnings of $0.14 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 21.4%. The business is scheduled to report its next quarterly earnings results on Friday, August 3rd.
On average, analysts expect that Cedar Realty Trust will report full-year earnings of $0.57 per share for the current fiscal year, with EPS estimates ranging from $0.53 to $0.59. For the next fiscal year, analysts anticipate that the business will post earnings of $0.55 per share, with EPS estimates ranging from $0.50 to $0.59. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last issued its earnings results on Thursday, May 3rd. The real estate investment trust reported ($0.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.29). Cedar Realty Trust had a negative return on equity of 2.28% and a negative net margin of 6.34%. The company had revenue of $37.57 million for the quarter, compared to the consensus estimate of $36.83 million.
CDR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.00 target price on the stock in a report on Monday, January 22nd. B. Riley reduced their target price on Cedar Realty Trust from $6.50 to $5.50 and set a “buy” rating on the stock in a report on Monday, February 12th. TheStreet cut Cedar Realty Trust from a “c” rating to a “d+” rating in a report on Thursday, February 8th. ValuEngine cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, Robert W. Baird reduced their target price on Cedar Realty Trust from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Monday, February 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $5.55.
Several large investors have recently added to or reduced their stakes in the company. Snow Park Capital Partners LP bought a new position in shares of Cedar Realty Trust during the 4th quarter valued at about $21,863,000. Deprince Race & Zollo Inc. lifted its holdings in shares of Cedar Realty Trust by 33.5% during the 4th quarter. Deprince Race & Zollo Inc. now owns 3,331,200 shares of the real estate investment trust’s stock valued at $20,254,000 after purchasing an additional 835,507 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Cedar Realty Trust by 44.3% during the 1st quarter. Russell Investments Group Ltd. now owns 2,723,064 shares of the real estate investment trust’s stock valued at $10,729,000 after purchasing an additional 835,786 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Cedar Realty Trust by 16.6% during the 1st quarter. LSV Asset Management now owns 1,892,957 shares of the real estate investment trust’s stock valued at $7,458,000 after purchasing an additional 269,665 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Cedar Realty Trust by 67.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 1,746,827 shares of the real estate investment trust’s stock valued at $6,883,000 after purchasing an additional 700,805 shares in the last quarter. Institutional investors and hedge funds own 93.45% of the company’s stock.
Cedar Realty Trust traded down $0.01, reaching $4.09, during midday trading on Thursday, according to MarketBeat Ratings. 25,548 shares of the company were exchanged, compared to its average volume of 423,304. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.57. Cedar Realty Trust has a one year low of $3.54 and a one year high of $6.29. The stock has a market cap of $345.83 million, a P/E ratio of 7.45 and a beta of 0.89.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 21st. Stockholders of record on Friday, May 11th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 4.89%. The ex-dividend date of this dividend was Thursday, May 10th. Cedar Realty Trust’s dividend payout ratio (DPR) is presently 36.36%.
Cedar Realty Trust Company Profile
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 59 properties, with approximately 8.7 million square feet of gross leasable area.
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