Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday, Zacks.com reports. The brokerage currently has a $3.50 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target suggests a potential upside of 14.38% from the company’s current price.

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 downgraded Cedar Realty Trust from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st.

Shares of NYSE:CDR opened at $3.06 on Tuesday. The stock has a market capitalization of $274.20 million, a PE ratio of 5.28 and a beta of 0.98. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.58 and a current ratio of 0.58. Cedar Realty Trust has a 1 year low of $2.73 and a 1 year high of $5.34.

Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings results on Thursday, May 2nd. The real estate investment trust reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.10. Cedar Realty Trust had a return on equity of 5.85% and a net margin of 15.49%. The business had revenue of $36.88 million for the quarter, compared to the consensus estimate of $36.57 million. On average, equities research analysts forecast that Cedar Realty Trust will post 0.45 EPS for the current fiscal year.

In related news, insider Bruce J. Schanzer sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $3.14, for a total transaction of $31,400.00. Following the transaction, the insider now directly owns 2,272,343 shares of the company’s stock, valued at approximately $7,135,157.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.51% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System raised its stake in Cedar Realty Trust by 9.5% during the 4th quarter. California Public Employees Retirement System now owns 218,319 shares of the real estate investment trust’s stock worth $686,000 after buying an additional 18,899 shares during the period. Martingale Asset Management L P raised its stake in shares of Cedar Realty Trust by 17.5% in the third quarter. Martingale Asset Management L P now owns 335,180 shares of the real estate investment trust’s stock worth $1,562,000 after purchasing an additional 49,922 shares during the last quarter. Millennium Management LLC raised its stake in shares of Cedar Realty Trust by 68.7% in the fourth quarter. Millennium Management LLC now owns 1,101,047 shares of the real estate investment trust’s stock worth $3,457,000 after purchasing an additional 448,250 shares during the last quarter. M&T Bank Corp raised its stake in shares of Cedar Realty Trust by 5.3% in the fourth quarter. M&T Bank Corp now owns 132,399 shares of the real estate investment trust’s stock worth $416,000 after purchasing an additional 6,676 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Cedar Realty Trust by 58.4% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,635 shares of the real estate investment trust’s stock worth $55,000 after purchasing an additional 6,500 shares during the last quarter. 89.70% of the stock is currently owned by institutional investors and hedge funds.

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.

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