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

Cedar Realty Trust (NYSE:CDRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $29.00 target price on the real estate investment trust’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 11.32% 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. “

A number of other equities analysts have also recently weighed in on CDR. StockNews.com cut Cedar Realty Trust from a “hold” rating to a “sell” rating in a report on Wednesday, May 25th. TheStreet raised Cedar Realty Trust from a “d+” rating to a “c-” rating in a report on Friday, April 1st. Raymond James cut Cedar Realty Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 8th. Finally, B. Riley upped 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. 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 stock. According to MarketBeat, Cedar Realty Trust currently has a consensus rating of “Hold” and an average target price of $26.33.

Shares of CDR traded up $0.30 during mid-day trading on Tuesday, reaching $26.05. The company had a trading volume of 158,765 shares, compared to its average volume of 229,106. Cedar Realty Trust has a 52-week low of $14.19 and a 52-week high of $28.68. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 1.87. The stock has a market capitalization of $355.32 million, a P/E ratio of -5.78 and a beta of 1.30. The stock has a 50 day moving average of $27.54 and a two-hundred day moving average of $25.43.

In related news, insider Bruce J. Schanzer sold 25,000 shares of the 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 completion of the transaction, 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 available at this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Qube Research & Technologies Ltd acquired a new stake in shares of Cedar Realty Trust in the fourth quarter valued at $441,000. O Shaughnessy Asset Management LLC raised its stake in shares of Cedar Realty Trust by 14.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 39,153 shares of the real estate investment trust’s stock valued at $983,000 after acquiring an additional 4,913 shares in the last quarter. KBC Group NV raised its stake in shares of Cedar Realty Trust by 70.4% in the fourth quarter. KBC Group NV now owns 5,639 shares of the real estate investment trust’s stock valued at $142,000 after acquiring an additional 2,330 shares in the last quarter. 683 Capital Management LLC acquired a new stake in shares of Cedar Realty Trust in the fourth quarter valued at $467,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of Cedar Realty Trust by 2.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 137,450 shares of the real estate investment trust’s stock valued at $3,451,000 after acquiring an additional 3,137 shares in the last quarter. 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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