Public Employees Retirement System of Ohio Reduces Position in Cedar Realty Trust, Inc. (CDR)
Public Employees Retirement System of Ohio reduced its position in shares of Cedar Realty Trust, Inc. (NYSE:CDR) by 0.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 84,187 shares of the real estate investment trust’s stock after selling 539 shares during the period. Public Employees Retirement System of Ohio owned approximately 0.10% of Cedar Realty Trust worth $408,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its holdings in Cedar Realty Trust by 9.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 729,269 shares of the real estate investment trust’s stock worth $3,537,000 after purchasing an additional 64,425 shares during the last quarter. Brandywine Global Investment Management LLC acquired a new stake in Cedar Realty Trust during the 2nd quarter worth approximately $3,684,000. Goldman Sachs Group Inc. lifted its holdings in Cedar Realty Trust by 60.4% during the 2nd quarter. Goldman Sachs Group Inc. now owns 501,289 shares of the real estate investment trust’s stock worth $2,431,000 after purchasing an additional 188,689 shares during the last quarter. Morgan Stanley lifted its holdings in Cedar Realty Trust by 107.9% during the 1st quarter. Morgan Stanley now owns 563,460 shares of the real estate investment trust’s stock worth $2,829,000 after purchasing an additional 292,433 shares during the last quarter. Finally, Systematic Financial Management LP acquired a new position in Cedar Realty Trust in the 2nd quarter valued at $1,462,000. 93.27% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on CDR shares. KeyCorp reaffirmed a “hold” rating on shares of Cedar Realty Trust in a report on Wednesday, October 4th. Boenning Scattergood reaffirmed a “sell” rating and issued a $4.50 price objective on shares of Cedar Realty Trust in a report on Monday, November 6th. Zacks Investment Research raised Cedar Realty Trust from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a report on Tuesday, November 7th. BidaskClub cut Cedar Realty Trust from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, FBR & Co lifted their price objective on Cedar Realty Trust from $5.75 to $6.25 and gave the company an “outperform” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $5.81.
Shares of Cedar Realty Trust, Inc. (NYSE:CDR) opened at $5.94 on Tuesday. The firm has a market capitalization of $541.51, a price-to-earnings ratio of 10.59 and a beta of 0.93. Cedar Realty Trust, Inc. has a 52-week low of $4.70 and a 52-week high of $6.79. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 1.49.
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Thursday, November 2nd. The real estate investment trust reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.01. The business had revenue of $36.40 million for the quarter, compared to analyst estimates of $35.31 million. Cedar Realty Trust had a return on equity of 4.18% and a net margin of 11.42%. Cedar Realty Trust’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS. analysts forecast that Cedar Realty Trust, Inc. will post 0.55 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.20 dividend on an annualized basis and a yield of 3.37%. Cedar Realty Trust’s dividend payout ratio is currently -285.71%.
About Cedar Realty Trust
Cedar Realty Trust, Inc is a real estate investment trust (REIT). The Company focuses on ownership and operation of grocery-anchored shopping centers straddling the Washington District of Columbia (DC) to Boston corridor. As of December 31, 2016, the Company owned and managed a portfolio of 61 operating properties (excluding properties held for sale) totaling approximately 9.1 million square feet of gross leasable area (GLA).
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