Zacks Investment Research Lowers Cedar Realty Trust (NYSE:CDR) to Sell

Cedar Realty Trust (NYSE:CDRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday, 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. “

Other analysts have also issued research reports about the company. StockNews.com lowered Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday. B. Riley raised their price objective on Cedar Realty Trust from $26.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, March 3rd. TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c-” rating in a research report on Friday, April 1st. Finally, Raymond James downgraded Cedar Realty Trust from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 8th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.67.

CDR traded up $0.02 during midday trading on Thursday, reaching $26.67. The company’s stock had a trading volume of 130,210 shares, compared to its average volume of 235,274. The stock has a market cap of $363.78 million, a P/E ratio of -5.91 and a beta of 1.30. The company has a fifty day simple moving average of $27.67 and a 200 day simple moving average of $25.20. The company has a current ratio of 0.62, a quick ratio of 0.60 and a debt-to-equity ratio of 1.87. Cedar Realty Trust has a twelve month low of $14.08 and a twelve month high of $28.68.

In related news, insider Bruce J. Schanzer sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $28.00, for a total transaction of $700,000.00. Following the completion of the transaction, the insider now owns 378,187 shares in the company, valued at approximately $10,589,236. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.10% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of CDR. Icon Advisers Inc. Co. bought a new position in Cedar Realty Trust in the 1st quarter valued at $1,716,000. Gabelli Funds LLC bought a new position in Cedar Realty Trust in the 1st quarter valued at $3,994,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in Cedar Realty Trust in the 1st quarter valued at $2,841,000. PenderFund Capital Management Ltd. bought a new position in Cedar Realty Trust in the 1st quarter valued at $152,000. Finally, Jane Street Group LLC bought a new position in Cedar Realty Trust in the 1st quarter valued at $952,000. Institutional investors and hedge funds own 50.80% of the company’s stock.

About Cedar Realty Trust (Get Rating)

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 54 properties, with approximately 8.1 million square feet of gross leasable area.

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