Cedar Realty Trust (NYSE:CDR) Upgraded at Zacks Investment Research

Cedar Realty Trust (NYSE:CDR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday, Zacks.com reports.

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. “

A number of other research analysts also recently commented on the company. Compass Point started coverage on Cedar Realty Trust in a report on Thursday, August 15th. They issued a “sell” rating and a $2.00 price objective on the stock. ValuEngine upgraded Cedar Realty Trust from a “sell” rating to a “hold” rating in a report on Tuesday, August 6th.

Shares of CDR traded up $0.01 during mid-day trading on Wednesday, reaching $2.68. The company’s stock had a trading volume of 358,100 shares, compared to its average volume of 333,589. Cedar Realty Trust has a 12-month low of $2.19 and a 12-month high of $3.76. The stock has a market cap of $237.68 million, a PE ratio of 4.62 and a beta of 0.84. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.49 and a quick ratio of 0.49. The company’s 50 day moving average is $3.04 and its 200 day moving average is $2.76.

In other news, CFO Philip Mays sold 25,000 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $3.01, for a total value of $75,250.00. Following the transaction, the chief financial officer now owns 609,024 shares in the company, valued at approximately $1,833,162.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.51% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its position in shares of Cedar Realty Trust by 183.7% in the 3rd quarter. Millennium Management LLC now owns 513,921 shares of the real estate investment trust’s stock valued at $1,541,000 after purchasing an additional 332,796 shares during the period. Squarepoint Ops LLC boosted its position in shares of Cedar Realty Trust by 64.0% in the 3rd quarter. Squarepoint Ops LLC now owns 226,344 shares of the real estate investment trust’s stock valued at $679,000 after purchasing an additional 88,289 shares during the period. PVG Asset Management Corp acquired a new stake in shares of Cedar Realty Trust in the 3rd quarter valued at about $1,380,000. Barclays PLC boosted its position in shares of Cedar Realty Trust by 16.7% in the 3rd quarter. Barclays PLC now owns 117,257 shares of the real estate investment trust’s stock valued at $353,000 after purchasing an additional 16,776 shares during the period. Finally, State Street Corp boosted its position in shares of Cedar Realty Trust by 2.7% in the 3rd quarter. State Street Corp now owns 2,802,891 shares of the real estate investment trust’s stock valued at $8,409,000 after purchasing an additional 73,382 shares during the period. 87.68% of the stock is owned by hedge funds and other institutional investors.

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 58 properties, with approximately 8.7 million square feet of gross leasable area.

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