Cedar Realty Trust (NYSE:CDR) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Cedar Realty Trust (NYSE:CDR) from a hold rating to a buy rating in a research report released on Monday, Zacks.com reports. They currently have $0.75 price target on the real estate investment trust’s stock.
According to Zacks, “Cedar Realty Trust, Inc. is a real estate investment trust which owns a portfolio of predominantly grocery-anchored shopping centers in high-density urban markets from D.C. to Boston. Cedar Realty Trust Inc, formerly known as Cedar Shopn Ctr, is based in Port Washington, NY. “
Several other equities research analysts have also recently commented on the company. ValuEngine upgraded Cedar Realty Trust from a strong sell rating to a sell rating in a research note on Thursday, April 30th. TheStreet cut Cedar Realty Trust from a c- rating to a d+ rating in a research note on Friday, February 7th. Finally, B. Riley cut their price target on Cedar Realty Trust from $5.00 to $2.00 and set a buy rating for the company in a research note on Friday, April 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $1.58.
A number of large investors have recently added to or reduced their stakes in CDR. SG Americas Securities LLC raised its position in Cedar Realty Trust by 61.6% in the first quarter. SG Americas Securities LLC now owns 34,008 shares of the real estate investment trust’s stock worth $32,000 after acquiring an additional 12,965 shares in the last quarter. Cresset Asset Management LLC purchased a new position in Cedar Realty Trust in the fourth quarter worth $33,000. Raymond James & Associates purchased a new position in Cedar Realty Trust in the fourth quarter worth $36,000. Premier Asset Management LLC purchased a new position in Cedar Realty Trust in the first quarter worth $45,000. Finally, Nisa Investment Advisors LLC raised its position in Cedar Realty Trust by 36.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 15,475 shares of the real estate investment trust’s stock worth $46,000 after acquiring an additional 4,143 shares in the last quarter. Hedge funds and other institutional investors own 87.04% of the company’s stock.
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