Cedar Realty Trust (CDR)

[Enterprising Investor]

Cedar Realty Trust Comments On Recent Public Announcements (3/02/21)

PORT WASHINGTON, N.Y., March 2, 2021 /PRNewswire/ -- Cedar Realty Trust, Inc. (NYSE: CDR) ("the Company") today issued the following statement regarding recent filings with the Securities and Exchange Commission and other announcements made by certain shareholders.

"Cedar Realty Trust's Board of Directors and management team are committed to acting in the best interests of shareholders as we work to deliver best-in-class performance for our investors and other stakeholders. In the second half of 2019, our Board formed a special committee to commence a strategic review process and was actively exploring a sale of the Company at a price of approximately $25 per share (adjusted for the Company's recent reverse stock split). This strategic review process, in which certain Camac Partners' director nominees participated directly and of which others were aware, was disrupted due to the outbreak of the COVID-19 pandemic.

"We have also refreshed our Board each year since 2015 with the exception of 2019 during our strategic review process. The Board today consists of a diverse group of high-caliber professionals who possess substantial real estate and capital markets expertise. We remain committed to corporate governance best practices and intend to further strengthen our Board with the near-term addition of one or more highly qualified candidates.

"Lastly, our Board and management team are focused on navigating through this pandemic period and maximizing value for our shareholders. We are always open to constructive input and assess all good ideas to create value for shareholders as the market and the Company's share price continue to recover from this unprecedented time."

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, D.C. to Boston. The Company's portfolio (excluding properties treated as "held for sale") comprises 54 properties, with approximately 8.2 million square feet of gross leasable area.

For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company's website at www.cedarrealtytrust.com.

https://www.prnewswire.com/news-releases/cedar-realty-trust-comments-on-recent-public-announcements-301238316.html