Equities research analysts predict that Cedar Realty Trust Inc (NYSE:CDR) will announce $0.18 earnings per share for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Cedar Realty Trust’s earnings. Cedar Realty Trust posted earnings per share of $0.14 in the same quarter last year, which would suggest a positive year-over-year growth rate of 28.6%. The business is scheduled to issue its next quarterly earnings results on Friday, August 3rd.
According to Zacks, analysts expect that Cedar Realty Trust will report full year earnings of $0.58 per share for the current year, with EPS estimates ranging from $0.58 to $0.59. For the next year, analysts forecast that the business will post earnings of $0.56 per share, with EPS estimates ranging from $0.55 to $0.59. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow Cedar Realty Trust.
Get Cedar Realty Trust alerts:
Cedar Realty Trust (NYSE:CDR) last issued its quarterly earnings data on Thursday, May 3rd. The real estate investment trust reported ($0.26) EPS for the quarter, missing the Thomson Reuters’ 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 business had revenue of $37.57 million for the quarter, compared to analysts’ expectations of $36.83 million.
Several research analysts have recently commented on the company. ValuEngine lowered Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. Zacks Investment Research raised Cedar Realty Trust from a “sell” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Boenning Scattergood set a $4.00 target price on Cedar Realty Trust and gave the stock a “sell” rating in a research note on Monday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $5.55.
Shares of NYSE CDR traded down $0.06 during midday trading on Wednesday, hitting $4.73. 174,500 shares of the company’s stock were exchanged, compared to its average volume of 552,989. Cedar Realty Trust has a 12-month low of $3.54 and a 12-month high of $6.29. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.57. The firm has a market capitalization of $409.40 million, a price-to-earnings ratio of 8.67 and a beta of 0.95.
In other Cedar Realty Trust news, insider Bruce J. Schanzer sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 19th. The stock was sold at an average price of $4.46, for a total value of $133,800.00. Following the completion of the sale, the insider now owns 2,103,593 shares of the company’s stock, valued at $9,382,024.78. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.41% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the company. Aperio Group LLC boosted its stake in shares of Cedar Realty Trust by 10.0% during the fourth quarter. Aperio Group LLC now owns 116,724 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 10,567 shares during the period. California Public Employees Retirement System boosted its stake in shares of Cedar Realty Trust by 4.7% during the fourth quarter. California Public Employees Retirement System now owns 274,939 shares of the real estate investment trust’s stock valued at $1,672,000 after purchasing an additional 12,357 shares during the period. KBC Group NV boosted its stake in shares of Cedar Realty Trust by 8.2% during the first quarter. KBC Group NV now owns 165,889 shares of the real estate investment trust’s stock valued at $654,000 after purchasing an additional 12,505 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Cedar Realty Trust by 1.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,227,473 shares of the real estate investment trust’s stock valued at $7,463,000 after purchasing an additional 13,408 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in shares of Cedar Realty Trust by 18.5% during the first quarter. New York State Common Retirement Fund now owns 92,100 shares of the real estate investment trust’s stock valued at $363,000 after purchasing an additional 14,400 shares during the period. 93.67% of the stock is owned by hedge funds and other 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 59 properties, with approximately 8.7 million square feet of gross leasable area.
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