Boenning & Scattergood Downgrades Cedar Realty Trust Inc to Underperform

Brokerage firm Boenning & Scattergood Downgrades its rating on Cedar Realty Trust Inc(NYSE:CDR). The shares have been rated Underperform. Previously, the analysts had a Neutral rating on the shares. The rating by Boenning & Scattergood was issued on Jun 28, 2016.

In a different note, On May 10, 2016, Wunderlich said it Upgrades its rating on Cedar Realty Trust Inc. In the research note, the firm Raises the price-target to $7.50 per share. The shares have been rated ‘Buy’ by the firm.

Cedar Realty Trust Inc (CDR) shares turned negative on Fridays trading session with the shares closing down -0.08 points or -1.08% at a volume of 1,44,953. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $7.48. The peak price level was also seen at $7.48 while the days lowest was $7.315. Finally the shares closed at $7.35. The 52-week high of the shares is $7.48 while the 52-week low is $5.75. According to the latest information available, the market cap of the company is $627 M.

Cedar Realty Trust Inc(CDR) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $38.25M. Analysts had an estimated revenue of $38.82M. Earnings per share were $0.14. Analysts had estimated an EPS of $0.04.

Several Insider Transactions has been reported to the SEC. On May 18, 2016, Bruce J Schanzer (Pres. & Chief Exec. Officer) purchased 1,000 shares at $6.75 per share price.Also, On Aug 27, 2015, Abraham Eisenstat (director) purchased 5,000 shares at $6.15 per share price.On Jun 2, 2015, James J Burns (director) sold 15,000 shares at $6.83 per share price, according to the Form-4 filing with the securities and exchange commission.

Cedar Realty Trust Inc. is a real estate investment trust. The Company owns and operates grocery-anchored shopping centers straddling the Washington DC to Boston corridor. It owns and manages a portfolio of approximately 59 operating properties totaling approximately 9.2 million square feet of gross leasable area (GLA). The Company’s portfolio is around 93.3% leased and 92.9% occupied. It has a portfolio of around 26 properties in Pennsylvania eight properties in Massachusetts seven properties in Connecticut six properties in Maryland eight properties in Virginia three properties in New Jersey and one property in New York. Its property portfolio includes Big Y Shopping Center Groton Shopping Center New London Washington Center Shoppes Norwood Shopping Center Fieldstone Marketplace and Yorktowne Plaza among others. It conducts all of its businesses through the Cedar Realty Trust Partnership L.P (Operating Partnership). It holds around 99.5% of the Operating Partnership.

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