Cedar Realty Trust Inc (NYSE:CDR) declared a quarterly dividend on Wednesday, January 23rd, Wall Street Journal reports. Shareholders of record on Friday, February 8th will be paid a dividend of 0.05 per share by the real estate investment trust on Wednesday, February 20th. This represents a $0.20 dividend on an annualized basis and a yield of 5.83%. The ex-dividend date is Thursday, February 7th.
Cedar Realty Trust has a dividend payout ratio of 33.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Cedar Realty Trust to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 40.0%.
Shares of CDR stock traded up $0.13 during trading hours on Wednesday, reaching $3.43. The stock had a trading volume of 670,038 shares, compared to its average volume of 558,103. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 1.52. Cedar Realty Trust has a 12 month low of $2.73 and a 12 month high of $5.55. The firm has a market capitalization of $301.90 million, a P/E ratio of 6.24 and a beta of 0.92.
Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, November 1st. The real estate investment trust reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.10. Cedar Realty Trust had a net margin of 3.16% and a return on equity of 1.17%. The company had revenue of $36.17 million during the quarter, compared to analyst estimates of $36.41 million. Sell-side analysts predict that Cedar Realty Trust will post 0.58 EPS for the current year.
In related news, insider Bruce J. Schanzer bought 10,840 shares of the stock in a transaction that occurred on Tuesday, November 27th. The shares were acquired at an average cost of $3.40 per share, with a total value of $36,856.00. Following the completion of the purchase, the insider now directly owns 2,111,393 shares of the company’s stock, valued at approximately $7,178,736.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Abraham Eisenstat bought 100,000 shares of the stock in a transaction that occurred on Thursday, December 20th. The stock was bought at an average cost of $2.87 per share, for a total transaction of $287,000.00. The disclosure for this purchase can be found here. Company insiders own 4.41% of the company’s stock.
CDR has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. B. Riley restated a “buy” rating on shares of Cedar Realty Trust in a research report on Tuesday, November 13th. Finally, ValuEngine upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Thursday, December 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $5.38.
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About Cedar Realty Trust
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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