Cedar Realty Trust Inc (CDR) was Reiterated by Wunderlich to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 8.50 from a previous price target of $8 . Wunderlich advised their investors in a research report released on Aug 8, 2016.
On the company’s financial health, Cedar Realty Trust Inc reported $0.15 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.14. The company had revenue of $37.87 million for the quarter, compared to analysts expectations of $37.74 million. The company’s revenue was up 3.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.
Cedar Realty Trust Inc opened for trading at $7.92 and hit $7.95 on the upside on Friday, eventually ending the session at $7.66, with a gain of 1.46% or 0.11 points. The heightened volatility saw the trading volume jump to 5,83,401 shares. Company has a market cap of $654 M.
Investors should note that on Jul 25, 2016, Cedar Realty Trust Inc announced a cash dividend of $0.0500. The company’s management has announced Aug 10, 2016 as the ex-dividend date and fixed the record date on Aug 12, 2016. The payable date has been fixed on Aug 22, 2016.
In a different news, on May 18, 2016, Bruce J Schanzer (Pres. & Chief Exec. Officer) purchased 1,000 shares at $6.75 per share price. According to the SEC, on Aug 27, 2015, Abraham Eisenstat (director) purchased 5,000 shares at $6.15 per share price. On Jun 2, 2015, James J Burns (director) sold 15,000 shares at $6.83 per share price, according to the Form-4 filing with the securities and exchange commission.
Cedar Realty Trust Inc. is a real estate investment trust. The Company owns and operates grocery-anchored shopping centers straddling the Washington DC to Boston corridor. It owns and manages a portfolio of approximately 59 operating properties totaling approximately 9.2 million square feet of gross leasable area (GLA). The Company’s portfolio is around 93.3% leased and 92.9% occupied. It has a portfolio of around 26 properties in Pennsylvania eight properties in Massachusetts seven properties in Connecticut six properties in Maryland eight properties in Virginia three properties in New Jersey and one property in New York. Its property portfolio includes Big Y Shopping Center Groton Shopping Center New London Washington Center Shoppes Norwood Shopping Center Fieldstone Marketplace and Yorktowne Plaza among others. It conducts all of its businesses through the Cedar Realty Trust Partnership L.P (Operating Partnership). It holds around 99.5% of the Operating Partnership.