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Cedar Realty Trust

NYSE:CDR
Snowflake Description

Adequate balance sheet with moderate growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
CDR
NYSE
$334M
Imp Market Cap
  1. Home
  2. US
  3. Real Estate
Company description

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. The last earnings update was 13 days ago. More info.


Add to Portfolio Compare Print
  • Cedar Realty Trust has significant price volatility in the past 3 months.
CDR Share Price and Events
7 Day Returns
-4.3%
NYSE:CDR
1.4%
US REITs
-1.4%
US Market
1 Year Returns
-36.4%
NYSE:CDR
-2.1%
US REITs
10%
US Market
CDR Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Cedar Realty Trust (CDR) -4.3% -4.6% -16.8% -36.4% -44.7% -32.1%
US REITs 1.4% 6.1% -1.3% -2.1% 19.9% 45.5%
US Market -1.4% -1% -3.3% 10% 55.6% 97.4%
1 Year Return vs Industry and Market
  • CDR underperformed the REITs industry which returned -2.1% over the past year.
  • CDR underperformed the Market in United States of America which returned 10% over the past year.
Price Volatility
CDR
Industry
5yr Volatility vs Market

CDR Value

 Is Cedar Realty Trust undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Cedar Realty Trust to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Cedar Realty Trust.

NYSE:CDR Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations
Levered Adjusted Funds From Operations Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 11.3%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:CDR
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
REITs Unlevered Beta Simply Wall St/ S&P Global 0.48
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.476 (1 + (1- 21%) (187.79%))
1.183
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.18
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (1.183 * 7.05%)
11.29%

Discounted Cash Flow Calculation for NYSE:CDR using 2 Stage Free Cash Flow to Equity using Adjusted Funds From Operations Model

The calculations below outline how an intrinsic value for Cedar Realty Trust is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

Cedar Realty Trust is a Real Estate Investment Trust (REIT), we use funds from operations (FFO) or adjusted funds from operations (AFFO) instead of levered free cash flow for REITs. This excludes depreciation and borrowing. Ideally analysts estimates of AFFO are used, where these aren't available we use FFO.

NYSE:CDR DCF 1st Stage: Next 5 year cash flow forecast
2019 2020 2021 2022 2023
Adjusted Funds From Operations (AFFO) (USD, Millions) 33.90 35.53 36.18 36.84 37.51
Source Analyst x3 Analyst x1 Est @ 1.83% Est @ 1.83% Est @ 1.83%
Present Value
Discounted (@ 11.29%)
30.46 28.69 26.25 24.02 21.98
Present value of next 5 years cash flows $131.39
NYSE:CDR DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2023 × (1 + g) ÷ (Discount Rate – g)
= $37.51 × (1 + 2.95%) ÷ (11.29% – 2.95%)
$463.17
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $463.17 ÷ (1 + 11.29%)5
$271.33
NYSE:CDR Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $131.39 + $271.33
$402.73
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $402.73 / 88.79
$4.54
NYSE:CDR Discount to Share Price
Calculation Result
Value per share (USD) From above. $4.54
Current discount Discount to share price of $3.76
= -1 x ($3.76 - $4.54) / $4.54
17.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Cedar Realty Trust is available for.
Intrinsic value
17%
Share price is $3.76 vs Future cash flow value of $4.54
Current Discount Checks
For Cedar Realty Trust to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Cedar Realty Trust's share price is below the future cash flow value, but not at a moderate discount (< 20%).
  • Cedar Realty Trust's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Cedar Realty Trust's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Cedar Realty Trust's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:CDR PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-09-30) in USD $-0.12
NYSE:CDR Share Price ** NYSE (2018-11-13) in USD $3.76
United States of America REITs Industry PE Ratio Median Figure of 155 Publicly-Listed REITs Companies 29.23x
United States of America Market PE Ratio Median Figure of 2,976 Publicly-Listed Companies 18x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Cedar Realty Trust.

NYSE:CDR PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:CDR Share Price ÷ EPS (both in USD)

= 3.76 ÷ -0.12

-31.55x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cedar Realty Trust is loss making, we can't compare its value to the US REITs industry average.
  • Cedar Realty Trust is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Cedar Realty Trust's expected growth come at a high price?
Raw Data
NYSE:CDR PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -31.55x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
167%per year
United States of America REITs Industry PEG Ratio Median Figure of 143 Publicly-Listed REITs Companies 0.9x
United States of America Market PEG Ratio Median Figure of 2,095 Publicly-Listed Companies 1.24x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Cedar Realty Trust, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Cedar Realty Trust's assets?
Raw Data
NYSE:CDR PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-09-30) in USD $4.63
NYSE:CDR Share Price * NYSE (2018-11-13) in USD $3.76
United States of America REITs Industry PB Ratio Median Figure of 191 Publicly-Listed REITs Companies 1.69x
United States of America Market PB Ratio Median Figure of 4,976 Publicly-Listed Companies 1.86x
NYSE:CDR PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:CDR Share Price ÷ Book Value per Share (both in USD)

= 3.76 ÷ 4.63

0.81x

* Primary Listing of Cedar Realty Trust.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Cedar Realty Trust is good value based on assets compared to the US REITs industry average.
X
Value checks
We assess Cedar Realty Trust's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check)
  5. Cedar Realty Trust has a total score of 1/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

CDR Future Performance

 How is Cedar Realty Trust expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
167%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Cedar Realty Trust expected to grow at an attractive rate?
  • Cedar Realty Trust's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Cedar Realty Trust's earnings growth is expected to exceed the United States of America market average.
  • Cedar Realty Trust's revenues are expected to decrease over the next 1-3 years, this is below the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:CDR Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:CDR Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 167%
NYSE:CDR Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts -2.2%
United States of America REITs Industry Earnings Growth Rate Market Cap Weighted Average 0.8%
United States of America REITs Industry Revenue Growth Rate Market Cap Weighted Average 4.4%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 14.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:CDR Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:CDR Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 147 1
2019-12-31 145 9 3
2018-12-31 151 -10 2
NYSE:CDR Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-09-30 152 56 -10
2018-06-30 152 58 -19
2018-03-31 147 57 -34
2017-12-31 146 58 -3
2017-09-30 146 58 -6
2017-06-30 147 60 -5
2017-03-31 150 58 4
2016-12-31 151 58 -6
2016-09-30 152 60 -2
2016-06-30 150 59 5
2016-03-31 149 59 5
2015-12-31 149 59 7

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Cedar Realty Trust's earnings are expected to grow significantly at over 20% yearly.
  • Cedar Realty Trust's revenue is expected to decrease over the next 1-3 years, this is not considered high growth.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:CDR Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Cedar Realty Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CDR Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31
2019-12-31 0.09 0.09 0.09 1.00
2018-12-31 -0.11 -0.11 -0.11 1.00
NYSE:CDR Past Financials Data
Date (Data in USD Millions) EPS *
2018-09-30 -0.12
2018-06-30 -0.22
2018-03-31 -0.40
2017-12-31 -0.04
2017-09-30 -0.08
2017-06-30 -0.07
2017-03-31 0.05
2016-12-31 -0.08
2016-09-30 -0.03
2016-06-30 0.06
2016-03-31 0.06
2015-12-31 0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Cedar Realty Trust will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Cedar Realty Trust's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Cedar Realty Trust has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

CDR Past Performance

  How has Cedar Realty Trust performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Cedar Realty Trust's growth in the last year to its industry (REITs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Cedar Realty Trust does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Cedar Realty Trust's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Cedar Realty Trust's 1-year growth to the US REITs industry average as it is not currently profitable.
Earnings and Revenue History
Cedar Realty Trust's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Cedar Realty Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:CDR Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-09-30 152.23 -10.50 17.16
2018-06-30 152.45 -19.17 17.30
2018-03-31 146.80 -34.16 17.27
2017-12-31 146.01 -3.15 16.91
2017-09-30 146.04 -6.30 15.61
2017-06-30 147.44 -5.45 15.81
2017-03-31 149.61 3.74 15.54
2016-12-31 151.09 -6.18 16.75
2016-09-30 151.65 -2.29 17.38
2016-06-30 149.95 4.60 16.76
2016-03-31 148.82 5.23 16.43
2015-12-31 149.21 6.87 15.00
2015-09-30 148.14 3.91 15.00
2015-06-30 148.54 3.92 14.62
2015-03-31 149.11 5.10 14.75
2014-12-31 148.18 2.76 14.36
2014-09-30 147.46 -1.99 14.63
2014-06-30 145.14 -9.04 14.56
2014-03-31 141.75 -13.33 14.23
2013-12-31 139.60 -11.57 13.98
2013-09-30 131.66 10.45 13.25
2013-06-30 131.38 9.36 13.64
2013-03-31 134.94 10.43 13.92
2012-12-31 134.21 -0.84 14.28
2012-09-30 141.06 -28.02 14.19
2012-06-30 140.89 -28.85 13.12
2012-03-31 136.03 -45.20 11.90
2011-12-31 131.66 -38.20 10.74

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Cedar Realty Trust has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Cedar Realty Trust used its assets less efficiently than the US REITs industry average last year based on Return on Assets.
  • Cedar Realty Trust's use of capital has not improved over the past 3 years (Return on Capital Employed).
X
Past performance checks
We assess Cedar Realty Trust's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Cedar Realty Trust has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

CDR Health

 How is Cedar Realty Trust's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Cedar Realty Trust's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Cedar Realty Trust is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Cedar Realty Trust's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Cedar Realty Trust's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.1x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Cedar Realty Trust Company Filings, last reported 1 month ago.

NYSE:CDR Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-09-30 570.95 626.90 20.15
2018-06-30 567.76 628.51 15.38
2018-03-31 562.21 634.02 14.75
2017-12-31 630.11 580.64 10.10
2017-09-30 579.22 629.06 5.85
2017-06-30 575.75 622.67 5.63
2017-03-31 588.11 626.72 5.88
2016-12-31 582.00 610.07 5.96
2016-09-30 573.93 705.63 4.51
2016-06-30 579.41 706.11 2.66
2016-03-31 586.22 690.03 1.76
2015-12-31 597.54 677.77 2.08
2015-09-30 594.61 650.84 2.22
2015-06-30 599.98 657.15 8.37
2015-03-31 599.04 664.13 3.77
2014-12-31 574.86 668.17 3.50
2014-09-30 578.81 680.53 4.25
2014-06-30 579.47 703.69 4.04
2014-03-31 571.89 754.30 5.67
2013-12-31 535.23 719.79 3.97
2013-09-30 535.56 724.03 5.44
2013-06-30 542.04 718.06 5.00
2013-03-31 543.27 732.77 4.89
2012-12-31 521.13 746.75 7.52
2012-09-30 652.74 654.87 7.42
2012-06-30 544.89 743.67 7.59
2012-03-31 547.07 753.12 10.81
2011-12-31 555.77 755.11 12.07
  • Cedar Realty Trust's level of debt (109.8%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (135.2% vs 109.8% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Cedar Realty Trust has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Cedar Realty Trust has sufficient cash runway for more than 3 years, due to free cash flow being positive and growing by 6.7% per year.
X
Financial health checks
We assess Cedar Realty Trust's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Cedar Realty Trust has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

CDR Dividends

 What is Cedar Realty Trust's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
5.32%
Current annual income from Cedar Realty Trust dividends. Estimated to be 5.32% next year.
If you bought $2,000 of Cedar Realty Trust shares you are expected to receive $106 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Cedar Realty Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.38%).
  • Cedar Realty Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.54%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:CDR Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
United States of America REITs Industry Average Dividend Yield Market Cap Weighted Average of 182 Stocks 4.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1978 Stocks 2.5%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.4%
United States of America Top 25% Dividend Yield 75th Percentile 3.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:CDR Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2020-12-31
2019-12-31 0.20 1.00
2018-12-31 0.20 1.00
NYSE:CDR Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-10-22 0.200 5.222
2018-07-19 0.200 4.484
2018-04-12 0.200 4.652
2018-01-19 0.200 4.766
2017-10-17 0.200 3.419
2017-07-20 0.200 3.802
2017-04-19 0.200 3.913
2017-01-18 0.200 3.599
2016-10-24 0.200 3.095
2016-07-25 0.200 2.716
2016-04-19 0.200 2.794
2016-01-25 0.200 2.849
2015-10-26 0.200 2.856
2015-07-15 0.200 3.075
2015-04-22 0.200 2.943
2015-01-26 0.200 2.653
2014-10-30 0.200 2.827
2014-07-22 0.200 3.192
2014-04-24 0.200 3.228
2014-01-29 0.200 3.251
2013-10-28 0.200 3.342
2013-07-29 0.200 3.810
2013-05-09 0.200 3.481
2013-01-30 0.200 3.412
2012-10-31 0.200 3.814
2012-07-30 0.200 3.693
2012-04-30 0.200 4.071
2011-11-09 0.200 4.483
2011-10-27 0.360 9.777
2011-07-28 0.360 10.498
2011-04-25 0.360 6.763
2011-01-19 0.360 6.116
2010-10-21 0.360 5.741
2010-07-19 0.360 6.026
2010-04-26 0.360 5.477
2010-03-15 0.360 4.555
2010-03-03 0.360 5.017
2009-11-06 0.000 0.000
2009-10-28 0.000 0.000
2009-04-02 0.000 0.000
2009-01-29 0.450 13.779
2008-11-17 0.900 15.594

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Cedar Realty Trust's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Cedar Realty Trust's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Cedar Realty Trust afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Cedar Realty Trust has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

CDR Management

 What is the CEO of Cedar Realty Trust's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Bruce Schanzer
COMPENSATION $1,469,388
AGE 49
TENURE AS CEO 7.4 years
CEO Bio

Mr. Bruce J. Schanzer, J.D., has been the Chief Executive Officer, President and Director of Cedar Realty Trust, Inc. since June 15, 2011. Mr. Schanzer has substantial expertise in the areas of corporate and real estate finance as well as commercial real estate law. He has several years of experience in the real estate area. Mr. Schanzer served for the past four years at Goldman, Sachs & Co., as a Managing Director in Real Estate Investment Banking. Prior to that, he served as a Vice President at Merrill Lynch in the Real Estate Investment Banking division. Prior to this, he practiced Real Estate Law for six years in New York. He received his J.D. from the Benjamin N. Cardozo School of Law, where he served as a Member of the Law Review, an MBA from the University of Chicago and Bachelor of Arts in Political Science from Yeshiva University where he is now a member of its board of trustees.

CEO Compensation
  • Bruce's compensation has been consistent with company performance over the past year.
  • Bruce's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Cedar Realty Trust management team in years:

4.6
Average Tenure
48
Average Age
  • The tenure for the Cedar Realty Trust management team is about average.
Management Team

Bruce Schanzer

TITLE
President
COMPENSATION
$1M
AGE
49
TENURE
7.4 yrs

Phil Mays

TITLE
EVP, CFO & Treasurer
COMPENSATION
$721K
AGE
50
TENURE
7.4 yrs

Robin Zeigler

TITLE
Executive VP & Chief Operating Officer
COMPENSATION
$1M
AGE
45
TENURE
2.7 yrs

Michael Winters

TITLE
Chief Investment Officer and Executive Vice President
AGE
57
TENURE
3.8 yrs

Gaspare Saitta

TITLE
VP & Chief Accounting Officer
AGE
45
TENURE
13.5 yrs

Adina Storch

TITLE
Chief Compliance Officer
AGE
47
TENURE
4.6 yrs

Charles Burkert

TITLE
Senior Vice President of Development & Construction

Tim Havener

TITLE
Senior Vice President of Leasing
TENURE
1.8 yrs

Jennifer Bitterman

TITLE
Vice President of Asset Management

Ann Maneri

TITLE
Vice President and Property Controller
Board of Directors Tenure

Average tenure and age of the Cedar Realty Trust board of directors in years:

3.3
Average Tenure
56.5
Average Age
  • The tenure for the Cedar Realty Trust board of directors is about average.
Board of Directors

Roger Widmann

TITLE
Chairman of the Board
COMPENSATION
$225K
AGE
78
TENURE
7.4 yrs

Bruce Schanzer

TITLE
President
COMPENSATION
$1M
AGE
49
TENURE
7.4 yrs

Pam Hootkin

TITLE
Director
COMPENSATION
$150K
AGE
70
TENURE
10.4 yrs

Steve Rogers

TITLE
Director
COMPENSATION
$146K
AGE
63
TENURE
2.7 yrs

Abe Eisenstat

TITLE
Director
COMPENSATION
$129K
AGE
48
TENURE
3.3 yrs

Gregg Gonsalves

TITLE
Director
COMPENSATION
$91K
AGE
50
TENURE
1.5 yrs

Sabrina Kanner

TITLE
Independent Director
TENURE
0.4 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Start End Shares Max Price ($) Value ($)
08. Aug 18 Sell Philip Mays Individual 07. Aug 18 07. Aug 18 -25,000 $4.56 $-114,092.50
20. Jun 18 Sell Bruce Schanzer Individual 19. Jun 18 19. Jun 18 -30,000 $4.46 $-133,662.00
X
Management checks
We assess Cedar Realty Trust's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Cedar Realty Trust has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

CDR News

External News
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Simply Wall St News

One Metric To Rule Them All: Cedar Realty Trust Inc (NYSE:CDR)

Cedar Realty Trust Inc is a US$345m. … real estate investment trust (REIT) based in Port Washington, United States. … View our latest analysis for Cedar Realty Trust

Simply Wall St -

Why Are Insiders Cautious About Cedar Realty Trust Inc's (NYSE:CDR) Shares?

Cedar Realty Trust, Inc. … It is widely considered that insider selling stock in their own companies is potentially a bearish signal … A two-decade research published in The MIT Press (1998) showed that stocks following insider selling declined 2.7% relative to the market

Simply Wall St -

Is Cedar Realty Trust Inc (NYSE:CDR) An Attractive Dividend Stock?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … In the past 10 years Cedar Realty Trust Inc (NYSE:CDR) has returned an average of 5.00% per year to investors in the form of dividend payouts. … Let's take a look at Cedar Realty Trust in more detail.

Simply Wall St -

Is Cedar Realty Trust Inc (NYSE:CDR) Undervalued?

Cedar Realty Trust Inc (NYSE:CDR), a reits company based in United States,. … Let’s examine Cedar Realty Trust’s valuation and outlook in more detail to determine if there’s still a bargain opportunity? … Check out our latest analysis for Cedar Realty Trust.

Simply Wall St -

Should You Buy Cedar Realty Trust Inc (NYSE:CDR) At $3.95?

Let’s take a look at Cedar Realty Trust’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … According to my valuation model, Cedar Realty Trust seems to be fairly priced at around 5.71% below my intrinsic value, which means if you buy Cedar Realty Trust today, you’d be paying a reasonable price for it. … In addition to this, it seems like Cedar Realty Trust’s share price is quite stable, which could mean there may be less chances to buy low in the future now that it’s fairly valued.

Simply Wall St -

One Metric To Rule Them All: Cedar Realty Trust Inc (NYSE:CDR)

Cedar Realty Trust Inc is a US$338.78M small-cap real estate investment trust (REIT) based in Port Washington, United States. … View our latest analysis for Cedar Realty Trust A common financial term REIT investors should know is Funds from Operations, or FFO for short, which is a REIT's main source of income from its portfolio of property, such as rent. … Next Steps: As a REIT, Cedar Realty Trust offers some unique characteristics which could help diversify your portfolio.

Simply Wall St -

Be Careful About Buying Cedar Realty Trust Inc (NYSE:CDR) For The 4.29% Dividend

Over the past 10 years, Cedar Realty Trust Inc (NYSE:CDR) has returned an average of 5.00% per year to shareholders in terms of dividend yield. … See our latest analysis for Cedar Realty Trust 5 checks you should do on a dividend stock If you are a dividend investor, you should always assess these five key metrics: Is it paying an annual yield above 75% of dividend payers? … Relative to peers, Cedar Realty Trust generates a yield of 4.29%, which is high for REITs stocks.Next Steps: After digging a little deeper into Cedar Realty Trust's yield, it's easy to see why you should be cautious investing in the company just for the dividend.

Simply Wall St -

Cedar Realty Trust Inc (NYSE:CDR): Dividend Is Coming In 3 Days, Should You Buy?

Check out our latest analysis for Cedar Realty Trust 5 questions I ask before picking a dividend stock When assessing a stock as a potential addition to my dividend Portfolio, I look at these five areas: Is it the top 25% annual dividend yield payer? … NYSE:CDR Historical Dividend Yield Feb 5th 18 Does Cedar Realty Trust pass our checks? … Cedar Realty Trust has a negative payout ratio, meaning that the company is not yet profitable and is paying dividend by dipping into its retained earnings.

Simply Wall St -

Should You Invest In The Real Estate Stock Cedar Realty Trust Inc (CDR)?

Real estate analysts are forecasting for the entire industry, negative growth in the upcoming year , and an optimistic near-term growth of 16.67% over the next couple of years. … Today, I will analyse the industry outlook, and also determine whether CDR is a laggard or leader relative to its real estate sector peers. … Although its growth has delivered lower growth relative to its REIT peers in the near term, the market may be pessimistic on the stock, leading to a potential undervaluation.

Simply Wall St -

Only 3 Days Left To Cedar Realty Trust Inc (CDR)’s Ex-Dividend Date, Should You Buy?

See our latest analysis for CDR Here's how I find good dividend stocks When researching a dividend stock, I always follow the following screening criteria: Is it paying an annual yield above 75% of dividend payers? … NYSE:CDR Historical Dividend Yield Nov 6th 17 How does Cedar Realty Trust fare? … Cedar Realty Trust has a negative payout ratio, meaning that the company is not yet profitable and is paying dividend by dipping into its retained earnings.

Simply Wall St -

CDR Company Info

Map
Description

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 58 properties, with approximately 8.7 million square feet of gross leasable area.

Details
Name: Cedar Realty Trust, Inc.
CDR
Exchange: NYSE
Founded: 1984
$333,831,600
$331,752,320
88,785,000
Website: http://www.cedarrealtytrust.com
Address: Cedar Realty Trust, Inc.
44 South Bayles Avenue,
Port Washington,
New York, 11050,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE CDR Common Stock New York Stock Exchange US USD 17. Dec 1986
DB CDH1 Common Stock Deutsche Boerse AG DE EUR 17. Dec 1986
NYSE CDR.PRC 6.50% CUM PFD C New York Stock Exchange US USD 18. Aug 2017
NYSE CDR.PRB PFD-B 7.25% New York Stock Exchange US USD 24. May 2012
Number of employees
Current staff
Staff numbers
76
Cedar Realty Trust employees.
Industry
Retail REITs
Real Estate
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/11/14 21:43
End of day share price update: 2018/11/13 00:00
Last estimates confirmation: 2018/11/13
Last earnings filing: 2018/11/01
Last earnings reported: 2018/09/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.