Analysts expect Cedar Realty Trust Inc (NYSE:CDR) to post $36.43 million in sales for the current quarter, Zacks reports. Four analysts have issued estimates for Cedar Realty Trust's earnings. The highest sales estimate is $37.09 million and the lowest is $36.10 million. Cedar Realty Trust reported sales of $37.57 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3%. The firm is expected to issue its next earnings results on Thursday, May 2nd.
On average, analysts expect that Cedar Realty Trust will report full year sales of $144.03 million for the current financial year, with estimates ranging from $142.82 million to $144.92 million. For the next financial year, analysts forecast that the company will report sales of $141.89 million, with estimates ranging from $130.63 million to $147.27 million. Zacks' sales averages are a mean average based on a survey of analysts that that provide coverage for Cedar Realty Trust.
Cedar Realty Trust (NYSE:CDR) last posted its quarterly earnings data on Thursday, February 7th. The real estate investment trust reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.11). The company had revenue of $36.93 million during the quarter, compared to analyst estimates of $35.99 million. Cedar Realty Trust had a net margin of 2.56% and a return on equity of 0.96%.
Several research firms have weighed in on CDR. Zacks Investment Research cut shares of Cedar Realty Trust from a "hold" rating to a "sell" rating in a research report on Monday, November 26th. ValuEngine upgraded shares of Cedar Realty Trust from a "sell" rating to a "hold" rating in a research report on Thursday, December 6th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has given a buy rating to the stock. The company has an average rating of "Hold" and a consensus target price of $5.00.
In related news, Director Abraham Eisenstat acquired 100,000 shares of the stock in a transaction on Thursday, December 20th. The stock was purchased at an average price of $2.87 per share, for a total transaction of $287,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 4.41% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CDR. Brinker Capital Inc. acquired a new stake in shares of Cedar Realty Trust during the 4th quarter worth approximately $34,000. Oregon Public Employees Retirement Fund acquired a new stake in shares of Cedar Realty Trust during the 4th quarter worth approximately $34,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its position in shares of Cedar Realty Trust by 58.4% during the 4th 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 buying an additional 6,500 shares during the period. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Cedar Realty Trust during the 4th quarter worth approximately $79,000. Finally, Metropolitan Life Insurance Co. NY grew its position in shares of Cedar Realty Trust by 273.4% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 42,771 shares of the real estate investment trust's stock worth $134,000 after buying an additional 31,316 shares during the period. Hedge funds and other institutional investors own 90.23% of the company's stock.
CDR traded up $0.01 during midday trading on Friday, hitting $3.35. The company had a trading volume of 952,089 shares, compared to its average volume of 426,537. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $298.50 million, a PE ratio of 5.78 and a beta of 1.04. Cedar Realty Trust has a twelve month low of $2.73 and a twelve month high of $5.34.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 20th. Shareholders of record on Friday, February 8th were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 5.97%. The ex-dividend date of this dividend was Thursday, February 7th. Cedar Realty Trust's payout ratio is presently 34.48%.
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