Cedar Realty Trust, Inc. (NYSE: CDR) benefited from strong short-term interest growth in December. As of December 31, there were short interests totaling 99,300 shares, a growth of 59.6% from the total of 62,200 shares as of December 15. Based on an average trading volume of 52,200 shares, the short interest ratio is currently 1.9 days. Currently, 0.8% of the company’s shares are sold short.
CDR stock was down $0.35 midday Friday, hitting $24.34. The company’s stock had a trading volume of 88,141 shares, compared to an average volume of 68,438. Cedar Realty Trust has a 12-month low of $10.38 and a 12-month high of $25.75. The company has a debt ratio of 1.78, a quick ratio of 0.60 and a current ratio of 0.60. The company’s 50-day moving average is $23.26 and its 200-day moving average is $20.60.
Cedar Realty Trust Inc (NYSE:CDR) last announced its results on Thursday, November 4. The real estate investment trust reported ($6.28) earnings per share for the quarter, missing analyst consensus estimates of $0.55 per ($6.83). Cedar Realty Trust had a negative net margin of 17.24% and a negative return on equity of 6.69%. In the same quarter of the previous year, the company achieved EPS of $0.59. As a group, research analysts expect Cedar Realty Trust to post earnings per share of 2.36 for the current fiscal year.
Institutional investors and hedge funds have recently changed their positions in the company. LSV Asset Management increased its stake in shares of Cedar Realty Trust by 31.3% in the 3rd quarter. LSV Asset Management now owns 689,482 shares of the real estate investment trust worth $14,954,000 after purchasing an additional 164,511 shares last quarter. K2 Principal Fund LP purchased a new equity stake in Cedar Realty Trust in Q3 for $1,925,000. EAM Investors LLC purchased a new equity stake in Cedar Realty Trust in Q3 for $1,831,000. Invesco Ltd. increased its stake in shares of Cedar Realty Trust by 285.6% in Q3. Invesco Ltd. now owns 112,715 shares of the real estate investment trust worth $2,445,000 after purchasing an additional 83,483 shares last quarter. Finally, Madison Avenue Partners LP bought a new equity stake in Cedar Realty Trust in Q3 for $1,229,000. Institutional investors and hedge funds hold 53.67% of the company’s shares.
A number of research analysts have weighed in on the company. B. Riley raised his price target on Cedar Realty Trust from $21.00 to $26.00 and gave the stock a “buy” rating in a Wednesday, November 10 report. They noted that the move was a review call. TheStreet downgraded Cedar Realty Trust from a “c” rating to a “d+” rating in a Wednesday, December 1, report. Finally, Zacks Investment Research upgraded Cedar Realty Trust from a “Strong Buy” rating to a “Hold” rating in a Tuesday, January 11 research report.
About Cedar Realty Trust
Cedar Realty Trust, Inc operates as a real estate investment trust, which engages in the ownership, operation and redevelopment of anchored grocery shopping malls. It also has property management, construction management and/or leasing offices in several of its shopping centers. The company was founded in 1984 and is based in Port Washington, NY.
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