Cedar Realty Trust
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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 7 days ago. More info.
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CDR Share Price and Events
7 Day Returns
1 Year Returns
CDR Shareholder Return
| 7 Day | 30 Day | 90 Day | 1 Year | 3 Year | 5 Year | |
|---|---|---|---|---|---|---|
| Cedar Realty Trust (CDR) | -0.3% | 2.1% | -1.1% | -15.2% | -50.2% | -45.5% |
| US REITs | 0.1% | 7.3% | 4.2% | 12.8% | 20.5% | 26.4% |
| US Market | 0.5% | 6.3% | 1.9% | 2% | 45.1% | 40.5% |
1 Year Return vs Industry and Market
- CDR underperformed the REITs industry which returned 12.8% over the past year.
- CDR underperformed the Market in United States of America which returned 2% over the past year.
CDR Value
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.
Below are the data sources, inputs and calculation used to determine the intrinsic value for Cedar Realty Trust.
| 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 4 Analyst Estimates (S&P Global) | See below |
| Discount Rate (Cost of Equity) | See below | 13% |
| Perpetual Growth Rate | 10-Year US Government Bond Rate | 2.7% |
An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.
| Data Point | Calculation/ Source | Result |
|---|---|---|
| Risk-Free Rate | 10-Year US Govt Bond Rate | 2.7% |
| Equity Risk Premium | S&P Global | 7.3% |
| REITs Unlevered Beta | Simply Wall St/ S&P Global | 0.55 |
| Re-levered Beta | = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.551 (1 + (1- 21%) (197.13%)) |
1.408 |
| Levered Beta | Levered Beta limited to 0.8 to 2.0 (practical range for a stable firm) |
1.41 |
| Discount Rate/ Cost of Equity |
= Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.73% + (1.408 * 7.27%) |
12.97% |
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.
| 2019 | 2020 | 2021 | 2022 | 2023 | |
| Adjusted Funds From Operations (AFFO) (USD, Millions) | 30.07 | 28.67 | 32.60 | 33.15 | 33.71 |
| Source | Analyst x3 | Analyst x4 | Analyst x1 | Est @ 1.7% | Est @ 1.7% |
|
Present Value Discounted (@ 12.97%) |
26.62 | 22.47 | 22.61 | 20.35 | 18.32 |
| Present value of next 5 years cash flows | $110.37 |
| Calculation | Result | |
|---|---|---|
| Terminal Value |
= FCF2023
× (1 + g) ÷ (Discount Rate – g)
= $33.71 × (1 + 2.73%) ÷ (12.97% – 2.73%) |
$338.32 |
| Present Value of Terminal Value |
= Terminal Value ÷ (1 + r)5
= $338.32 ÷ (1 + 12.97%)5 |
$183.90 |
| Calculation | Result | |
|---|---|---|
| Total Equity Value |
= Present value of next 5 years cash flows +
Terminal Value
= $110.37 + $183.90 |
$294.27 |
| Equity Value per Share (USD) |
= Total value / Shares Outstanding
= $294.27 / 88.79 |
$3.21 |
| Calculation | Result | |
|---|---|---|
| Value per share (USD) | From above. | $3.21 |
| Current discount | Discount to share price of
$3.46
= -1 x ($3.46 - $3.21) / $3.21 |
-7.7% |
Learn more about our DCF calculations in Simply Wall St’s analysis model .
- The current share price of Cedar Realty Trust is above its future cash flow value.
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?
| Data Point | Source | Value |
|---|---|---|
| Earnings Per Share * | Company Filings (2018-12-31) in USD | $-0.12 |
| NYSE:CDR Share Price ** | NYSE (2019-02-13) in USD | $3.46 |
| United States of America REITs Industry PE Ratio | Median Figure of 154 Publicly-Listed REITs Companies | 31.96x |
| United States of America Market PE Ratio | Median Figure of 3,046 Publicly-Listed Companies | 16.95x |
* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.
** Primary Listing of Cedar Realty Trust.
| Calculation | Outcome | |
|---|---|---|
| PE Ratio | = NYSE:CDR Share Price ÷ EPS (both in USD) = 3.46 ÷ -0.12 |
-29.19x |
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?
| Data Point | Source | Value |
|---|---|---|
| PE Ratio | See PE Ratio Section | -29.19x |
| Net Income Annual Growth Rate | See Future Growth Section. Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts |
90.5%per year |
| United States of America REITs Industry PEG Ratio | Median Figure of 141 Publicly-Listed REITs Companies | 0.86x |
| United States of America Market PEG Ratio | Median Figure of 2,117 Publicly-Listed Companies | 1.36x |
*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?
| Data Point | Source | Value |
|---|---|---|
| Book Value per Share | Company Filings (2018-12-31) in USD | $4.45 |
| NYSE:CDR Share Price * | NYSE (2019-02-13) in USD | $3.46 |
| United States of America REITs Industry PB Ratio | Median Figure of 192 Publicly-Listed REITs Companies | 1.74x |
| United States of America Market PB Ratio | Median Figure of 5,122 Publicly-Listed Companies | 1.81x |
| Calculation | Outcome | |
|---|---|---|
| PB Ratio | = NYSE:CDR Share Price ÷ Book Value per Share (both in USD) = 3.46 ÷ 4.45 |
0.78x |
* 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.
Value checks
We assess Cedar Realty Trust's value by looking at:- 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. )
- Is the PE ratio less than the market average, and/ or less than the REITs industry average (and greater than 0)? (2 checks)
- Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
- Is the PB ratio less than the REITs industry average (and greater than 0)? (1 check) 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
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!
Earnings growth vs Low Risk Savings
- Cedar Realty Trust's earnings growth is expected to exceed the low risk savings rate of 2.7%.
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
| Data Point | Source | Value (per year) |
|---|---|---|
| NYSE:CDR Future Earnings Growth Rate | Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts | 90.5% |
| NYSE:CDR Future Revenue Growth Rate | Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts | -1.8% |
| 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 | 3.8% |
| United States of America Market Earnings Growth Rate | Market Cap Weighted Average | 13.4% |
| United States of America Market Revenue Growth Rate | Market Cap Weighted Average | 7.1% |
*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
| Data Point | Source | Value |
|---|---|---|
| Past Financials | Company Filings (1 month ago) | See Below |
| Future Estimates | Average of up to 4 Analyst Estimates (S&P Global) | See Below |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 150 | 9 | 1 | |
| 2020-12-31 | 142 | 3 | 4 | |
| 2019-12-31 | 144 | 4 | 3 |
| Date (Data in USD Millions) | Revenue | Cash Flow | Net Income * |
|---|---|---|---|
| 2018-12-31 | 152 | -10 | |
| 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 |
*GAAP earnings excluding extraordinary items.
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 4 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.
| Date (Data in USD Millions) | EPS * | EPS High Estimate | EPS Low Estimate | Avg. No. Analysts |
|---|---|---|---|---|
| 2021-12-31 | 0.11 | 0.11 | 0.11 | 1.00 |
| 2020-12-31 | 0.06 | 0.08 | 0.03 | 2.00 |
| 2019-12-31 | 0.04 | 0.05 | 0.03 | 2.00 |
| Date (Data in USD Millions) | EPS * |
|---|---|
| 2018-12-31 | -0.12 |
| 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 |
*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.
Future performance checks
We assess Cedar Realty Trust's future performance by looking at:- Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
- Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
- Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
- Is the annual earnings growth rate expected to be above 20%? (1 check)
- Is the annual revenue growth rate expected to be above 20%? (1 check)
- Is the Return on Equity in 3 years expected to be over 20%? (1 check)
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
Past Earnings growth analysis
- 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
All data from Cedar Realty Trust Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.
| Date (Data in USD Millions) | Revenue | Net Income * | G+A Expenses | R&D Expenses |
|---|---|---|---|---|
| 2018-12-31 | 152.02 | -10.48 | 16.92 | |
| 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 |
*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.
- It is difficult to establish if Cedar Realty Trust improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
Past performance checks
We assess Cedar Realty Trust's performance over the past 5 years by checking for:- Has earnings increased in past 5 years? (1 check)
- Has the earnings growth in the last year exceeded that of the REITs industry? (1 check)
- Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
- Is the Return on Equity (ROE) higher than 20%? (1 check)
- Is the Return on Assets (ROA) above industry average? (1 check)
- Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
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.
- 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
Assets
Liabilities and shares
- 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.
All data from Cedar Realty Trust Company Filings, last reported 1 month ago.
| Date (Data in USD Millions) | Total Equity | Total Debt | Cash & Short Term Investments |
|---|---|---|---|
| 2018-12-31 | 558.72 | 624.83 | 10.85 |
| 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 |
- Cedar Realty Trust's level of debt (111.8%) 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 (134.5% vs 111.8% 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 1.7% per year.
Financial health checks
We assess Cedar Realty Trust's financial health by checking for:- Are short term assets greater than short term liabilities? (1 check)
- Are short term assets greater than long term liabilities? (1 check)
- Has the debt to equity ratio increased in the past 5 years? (1 check)
- Is the debt to equity ratio over 40%? (1 check)
- Is the debt covered by operating cash flow? (1 check)
- Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check) Cedar Realty Trust has a total score of 4/6, see the detailed checks below.
- Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
- 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
If you bought
$2,000 of
Cedar Realty Trust
shares you are expected to receive
$116
in your first year as a dividend.
Dividend Amount
- Cedar Realty Trust's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.43%).
- Cedar Realty Trust's dividend is above the markets top 25% of dividend payers in United States of America (3.62%).
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.
| 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 4 Analyst Estimates (S&P Global) | See Below |
| United States of America REITs Industry Average Dividend Yield | Market Cap Weighted Average of 185 Stocks | 4% |
| United States of America Market Average Dividend Yield | Market Cap Weighted Average of 1997 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 | 3.6% |
Industry and Market average data is calculated daily.
Note all dividend per share amounts are annualized and not quarterly or other period.
| Date (Data in $) | Dividend per Share (annual) | Avg. No. Analysts |
|---|---|---|
| 2021-12-31 | ||
| 2020-12-31 | 0.20 | 1.00 |
| 2019-12-31 | 0.20 | 1.00 |
| Date (Data in $) | Dividend per share (annual) | Avg. Yield (%) |
|---|---|---|
| 2019-01-22 | 0.200 | 5.734 |
| 2018-10-22 | 0.200 | 5.813 |
| 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 |
| 2009-02-17 | 0.450 | 16.313 |
Learn more about our ratios and growth rates in Simply Wall St’s analysis model >
- Dividends per share have been stable in the past 10 years.
- 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 (1.5x coverage).
- Dividends after 3 years are expected to be thoroughly covered by earnings (205.8x coverage).
Income/ dividend checks
We assess Cedar Realty Trust's dividend by checking for:- Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
- Is current dividend yield above the bottom 25% of dividend payers? (1 check)
- Is current dividend yield above the top 25% of dividend payers? (1 check)
- Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
- If they have paid a dividend for 10 years has it increased in this time? (1 check)
- 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) Cedar Realty Trust has a total score of 5/6, see the detailed checks below.
Full details on the Dividends part of the Simply Wall St company analysis model.
CDR Management
CEO
| COMPENSATION | $1,469,388 |
| AGE | 49 |
| TENURE AS CEO | 7.7 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:
- The tenure for the Cedar Realty Trust management team is about average.
Management Team
Bruce Schanzer
President
$1M
49
7.7 yrs
Phil Mays
EVP, CFO & Treasurer
$721K
50
7.7 yrs
Robin Zeigler
Executive VP & Chief Operating Officer
$1M
45
2.9 yrs
Michael Winters
Chief Investment Officer & Executive VP
57
4 yrs
Gaspare Saitta
VP & Chief Accounting Officer
45
13.8 yrs
Adina Storch
Chief Compliance Officer
47
4.8 yrs
Charles Burkert
Senior Vice President of Development & Construction
Tim Havener
Senior Vice President of Leasing
2.1 yrs
Jennifer Bitterman
Vice President of Asset Management
Ann Maneri
Vice President and Property Controller
Board of Directors Tenure
Average tenure and age of the Cedar Realty Trust board of directors in years:
- The tenure for the Cedar Realty Trust board of directors is about average.
Board of Directors
Roger Widmann
Chairman of the Board
$225K
78
7.7 yrs
Bruce Schanzer
President
$1M
49
7.7 yrs
Pam Hootkin
Director
$150K
70
10.7 yrs
Steve Rogers
Director
$146K
63
2.9 yrs
Abe Eisenstat
Director
$129K
48
3.6 yrs
Gregg Gonsalves
Director
$91K
50
1.8 yrs
Sabrina Kanner
Independent Director
0.7 yrs
Who owns this company?
Recent Insider Trading
- More shares have been bought than sold by Cedar Realty Trust insiders in the past 3 months.
Recent Insider Transactions
| Announced | Type | Name | Entity | Role | Start | End | Shares | Max Price ($) | Value ($) | |
|---|---|---|---|---|---|---|---|---|---|---|
| 26. Dec 18 | Buy | Abraham Eisenstat | Individual | 20. Dec 18 | 20. Dec 18 | 100,000 | $2.87 | $287,090 | ||
| 28. Nov 18 | Buy | Bruce Schanzer | Individual | 27. Nov 18 | 27. Nov 18 | 10,840 | $3.40 | $36,825 | ||
| 08. Aug 18 | Sell | Philip Mays | Individual | 07. Aug 18 | 07. Aug 18 | -25,000 | $4.56 | $-114,093 | ||
| 20. Jun 18 | Sell | Bruce Schanzer | Individual | 19. Jun 18 | 19. Jun 18 | -30,000 | $4.46 | $-133,662 | ||
Management checks
We assess Cedar Realty Trust's management by checking for:- Is the CEO's compensation unreasonable compared to market cap? (1 check)
- Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
- Is the average tenure of the management team less than 2 years? (1 check)
- Is the average tenure of the board of directors team less than 3 years? (1 check) 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
Simply Wall St News
Investing In Cedar Realty Trust, Inc. (NYSE:CDR): What You Need To Know
Cedar Realty Trust, Inc. … Check out 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
Simply Wall St - – Full articleAt US$3.22, Is Cedar Realty Trust, Inc. (NYSE:CDR) Worth Looking At Closely?
Cedar Realty Trust, Inc. … Less-covered, small caps sees more of an opportunity for mispricing due to the lack of information available to the public, which can be a good thing? … Today I will analyse the most recent data on Cedar Realty Trust’s outlook and valuation to see if the opportunity still exists
Simply Wall St - – Full articleDid Cedar Realty Trust, Inc. (NYSE:CDR) Insiders Sell Shares?
But logic dictates you should pay some attention to whether insiders are buying or selling shares. … Cedar Realty Trust Insider Transactions Over The Last Year. … Over the last year we saw more insider selling of Cedar Realty Trust shares, than buying
Simply Wall St - – Full articleIs Cedar Realty Trust Inc's (NYSE:CDR) CEO Paid At A Competitive Rate?
This analysis aims first to contrast CEO compensation with other companies that have similar market capitalization. … How Does Bruce Schanzer's Compensation Compare With Similar Sized Companies. … According to our data, Cedar Realty Trust Inc has a market capitalization of US$313m, and pays its CEO total annual compensation worth US$1.5m.
Simply Wall St - – Full articleOne 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 - – Full articleWhy 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 - – Full articleIs 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 - – Full articleIs 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 - – Full articleShould 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 - – Full articleOne 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 - – Full articleCDR 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 |
| $316,962,450 | |
| $305,282,720 | |
| 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.PRB | PFD-B 7.25% | New York Stock Exchange | US | USD | 24. May 2012 | |
| NYSE | CDR.PRC | 6.50% CUM PFD C | New York Stock Exchange | US | USD | 18. Aug 2017 |
Number of employees
Current staff
Industry
| Retail REITs | |
| Real Estate |
Company Analysis and Financial Data Status
| Area | Date (UTC time) |
|---|---|
| Company Analysis updated: | 2019/02/14 00:01 |
| End of day share price update: | 2019/02/13 00:00 |
| Last estimates confirmation: | 2019/02/12 |
| Last earnings filing: | 2019/02/07 |
| Last earnings reported: | 2018/12/31 |
| Last annual earnings reported: | 2018/12/31 |
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.
