Cedar Realty Trust (NYSE:CDR) Releases FY 2019 Earnings Guidance

Cedar Realty Trust (NYSE:CDR) issued an update on its FY 2019 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $0.44-0.45 for the period.

Shares of CDR traded up $0.01 during trading hours on Friday, reaching $2.62. The company’s stock had a trading volume of 421,715 shares, compared to its average volume of 350,956. The company has a market cap of $233.26 million, a price-to-earnings ratio of 4.52 and a beta of 0.87. Cedar Realty Trust has a 1-year low of $2.33 and a 1-year high of $4.74. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average of $2.60.

Cedar Realty Trust (NYSE:CDR) last released its quarterly earnings data on Thursday, August 1st. The real estate investment trust reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). Cedar Realty Trust had a return on equity of 5.85% and a net margin of 15.49%. The firm had revenue of $35.66 million during the quarter, compared to analyst estimates of $35.77 million. Equities research analysts anticipate that Cedar Realty Trust will post 0.45 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 9th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $0.20 dividend on an annualized basis and a yield of 7.63%. Cedar Realty Trust’s dividend payout ratio is currently 34.48%.

A number of equities analysts recently commented on the company. Zacks Investment Research downgraded Cedar Realty Trust from a buy rating to a hold rating in a report on Tuesday, July 9th. ValuEngine downgraded Cedar Realty Trust from a hold rating to a sell rating in a report on Wednesday, May 1st.

In related news, insider Bruce J. Schanzer sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $3.14, for a total value of $31,400.00. Following the transaction, the insider now owns 2,272,343 shares in the company, valued at $7,135,157.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.51% of the company’s stock.

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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Earnings History and Estimates for Cedar Realty Trust (NYSE:CDR)

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