Cedar Realty Trust Inc (NYSE:CDR) Sees Significant Decline in Short Interest

Cedar Realty Trust Inc (NYSE:CDR) saw a significant decrease in short interest in the month of November. As of November 29th, there was short interest totalling 362,700 shares, a decrease of 12.3% from the November 14th total of 413,600 shares. Based on an average daily trading volume, of 310,400 shares, the days-to-cover ratio is currently 1.2 days. Approximately 0.4% of the shares of the company are short sold.

CDR traded down $0.01 during trading on Friday, hitting $2.64. 246,859 shares of the company traded hands, compared to its average volume of 244,041. The firm has a market cap of $235.90 million, a P/E ratio of 4.55 and a beta of 0.83. The stock’s fifty day moving average is $2.90 and its 200 day moving average is $2.75. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.72. Cedar Realty Trust has a one year low of $2.19 and a one year high of $3.76.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 8th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.20 dividend on an annualized basis and a yield of 7.58%. Cedar Realty Trust’s dividend payout ratio is presently 34.48%.

In related news, CFO Philip Mays sold 25,000 shares of the stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $3.01, for a total transaction of $75,250.00. Following the completion of the transaction, the chief financial officer now owns 609,024 shares in the company, valued at $1,833,162.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.51% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the business. Connor Clark & Lunn Investment Management Ltd. bought a new position in Cedar Realty Trust during the second quarter worth about $29,000. Bank of Montreal Can boosted its position in Cedar Realty Trust by 167.6% during the second quarter. Bank of Montreal Can now owns 11,602 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 7,266 shares during the period. Envestnet Asset Management Inc. bought a new position in Cedar Realty Trust during the third quarter worth about $52,000. Cubist Systematic Strategies LLC boosted its position in Cedar Realty Trust by 90.2% during the second quarter. Cubist Systematic Strategies LLC now owns 25,190 shares of the real estate investment trust’s stock worth $67,000 after purchasing an additional 11,945 shares during the period. Finally, First Citizens Bank & Trust Co. bought a new position in Cedar Realty Trust during the third quarter worth about $90,000. Hedge funds and other institutional investors own 87.68% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of Cedar Realty Trust from a “sell” rating to a “hold” rating in a research report on Friday.

Cedar Realty Trust Company Profile

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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