Cedar Realty Trust (NYSE:CDR) Upgraded to Buy by Zacks Investment Research

Cedar Realty Trust (NYSE:CDRGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The brokerage currently has a $30.00 price target on the real estate investment trust’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 12.32% from the stock’s previous close.

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 recently issued reports about the company. Raymond James cut Cedar Realty Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 8th. B. Riley boosted their price target on Cedar Realty Trust from $26.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, March 3rd. TheStreet upgraded Cedar Realty Trust from a “d+” rating to a “c-” rating in a report on Friday, April 1st. Finally, StockNews.com cut Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $26.67.

Shares of NYSE:CDR traded up $0.04 during midday trading on Friday, hitting $26.71. 110,132 shares of the stock were exchanged, compared to its average volume of 234,047. The stock has a market capitalization of $364.32 million, a price-to-earnings ratio of -5.92 and a beta of 1.30. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.60 and a current ratio of 0.62. The business’s 50-day moving average price is $27.65 and its 200 day moving average price is $25.23. Cedar Realty Trust has a 12 month low of $14.15 and a 12 month high of $28.68.

In related news, insider Bruce J. Schanzer sold 25,000 shares of the company’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 value of $700,000.00. Following the sale, the insider now directly owns 378,187 shares in the company, valued at $10,589,236. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Wolverine Asset Management LLC bought a new position in shares of Cedar Realty Trust during the 1st quarter worth approximately $44,000. Morgan Stanley boosted its holdings in shares of Cedar Realty Trust by 134.2% during the 3rd quarter. Morgan Stanley now owns 2,344 shares of the real estate investment trust’s stock worth $51,000 after buying an additional 1,343 shares in the last quarter. UBS Group AG raised its position in shares of Cedar Realty Trust by 35.0% during the first quarter. UBS Group AG now owns 4,512 shares of the real estate investment trust’s stock worth $125,000 after purchasing an additional 1,169 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Cedar Realty Trust during the fourth quarter worth approximately $132,000. Finally, KBC Group NV raised its position in shares of Cedar Realty Trust by 70.4% during the fourth quarter. KBC Group NV now owns 5,639 shares of the real estate investment trust’s stock worth $142,000 after purchasing an additional 2,330 shares during the period. Hedge funds and other institutional investors own 50.80% of the company’s stock.

Cedar Realty Trust Company Profile (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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