Cedar Realty Trust, Inc. (NYSE:CDR – Get Rating) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totalling 433,600 shares, a decline of 31.6% from the May 31st total of 633,800 shares. Based on an average trading volume of 265,700 shares, the days-to-cover ratio is currently 1.6 days. Approximately 3.4% of the company’s stock are sold short.
A number of analysts recently issued reports on the company. TheStreet raised Cedar Realty Trust from a “d+” rating to a “c-” rating in a research report on Friday, April 1st. StockNews.com downgraded Cedar Realty Trust from a “hold” rating to a “sell” rating in a research report on Wednesday, May 25th. Finally, Raymond James cut Cedar Realty Trust from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 8th.
In related news, insider Bruce J. Schanzer sold 25,000 shares of Cedar Realty Trust stock in a transaction dated Tuesday, April 5th. The stock was sold at an average price of $28.00, for a total value of $700,000.00. Following the sale, the insider now owns 378,187 shares of the company’s stock, valued at $10,589,236. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 7.10% of the stock is currently owned by insiders.
Cedar Realty Trust stock traded up $0.01 during midday trading on Monday, reaching $28.80. 12,010 shares of the company’s stock were exchanged, compared to its average volume of 243,920. Cedar Realty Trust has a 52 week low of $15.13 and a 52 week high of $28.98. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.62 and a current ratio of 0.62. The firm has a market cap of $392.83 million, a price-to-earnings ratio of -6.39 and a beta of 1.17. The stock’s 50-day simple moving average is $27.09 and its 200 day simple moving average is $26.10.
About Cedar Realty Trust (Get Rating)
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 54 properties, with approximately 8.1 million square feet of gross leasable area.
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