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Cedar Realty Trust, Inc.NYSE:CDR Aktierapport

Marknadsvärde US$385.4m
Aktiekurs
n/a
Mitt verkliga värde
Ej tillgänglig
1Y67.3%
7D0.2%
1D
Portföljens värde
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Utsikt

Cedar Realty Trust, Inc.

NYSE:CDR Aktierapport

Börsvärde: US$385.4m

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Cedar Realty Trust (CDR) Aktievy

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. Mer information

CDR fundamental analys
Snöflinga Score
Värdering4/6
Framtida tillväxt0/6
Tidigare resultat0/6
Finansiell hälsa5/6
Utdelningar0/6

Belöningar

Handlar till 37.3% under vår uppskattning av dess verkliga värde

Riskanalys

Intäkterna har minskat med 43.1% per år under de senaste 5 åren


CDR Community Fair Values

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Cedar Realty Trust, Inc. Konkurrenter

Prishistorik och prestanda

Sammanfattning av aktiekursernas upp- och nedgångar samt förändringar för Cedar Realty Trust
Historiska aktiekurser
Aktuell aktiekursUS$29.00
52 veckors högstaUS$29.26
52 veckors lägstaUS$16.74
Beta1.12
1 månads förändring-0.14%
3 månaders förändring8.82%
1 års förändring67.34%
3 års förändring97.93%
5 års förändring-12.47%
Förändring sedan börsintroduktionen-54.94%

Senaste nyheter och uppdateringar

Seeking Alpha • Aug 09

Cedar Realty Trust shareholders to receive $29/share from sale of assets and merger

Cedar Realty Trust (NYSE:CDR) announced that Cedar and Wheeler Real Estate Investment Trust have jointly decided that the proceeds to Cedar shareholders from the sale of assets and subsequent merger in a series of related all-cash transactions will total $29/share. Cedar board declared a special dividend on shares of Cedar's outstanding common stock of $19.52/share payable to shareholders of record at Aug.19, 2022. Assuming the merger transaction is completed on Aug. 22, 2022, payment of the dividend will be made to eligible shareholders on Aug. 26, 2022. Shareholders as of the merger closing date will also be entitled to receive merger consideration of $9.48/share, payable on or about the same date as the special dividend.
Seeking Alpha • Jul 21

Wheeler Real Estate Investment Trust Transformed By Cedar Deal

Wheeler recently cut a deal to take over the less-desirable properties from the Cedar Realty Trust liquidation. Despite the lower quality of these locations, they are actually well in line with the broader Wheeler portfolio and provide cash flow the business desperately needs. The opportunity exists to invest alongside Management in the senior notes, which appear poised to profit the most from an eventual sale of the business. The current situation at Wheeler Real Estate Investment Trust (WHLR) merits further consideration by investors willing to stomach some volatility and fully apprised of the risks. A brief summary follows: The Players Jon Wheeler - namesake of the business - was ousted after two ugly proxy battles. Joseph Stillwell - at the helm after winning his second proxy attempt. He had the initial misfortune of gaining control as Covid lockdowns began. Steamboat Capital Partners - owns portions of the WHLR capital stack, and has sued over treatment of preferred shareholders. Cedar Reality Trust (CDR) - winding down REIT that has agreed to sell WHLR a portfolio of properties for $130m cash and the assumption of CDR preferred shares. The sale is expected to close in the coming 2-4 weeks. Legacy WHLR Overview The legacy business had the following results in FY21: WHLR Investor Presentation $41.7m NOI, $6.8m Adjusted Funds from Operations (AFFO) Cap structure summary and new CDR acquisition pieces: $130m KeyBank bridge loan to WHLR, CDR B/C preferred ($161m face) Base rent has averaged ~77.5% of WHLR revenues over the past five fiscal years, and with 94% of properties rented at $9.62 for FY21, I therefore estimate Wheeler will earn ~$64m of FY22 revenue vs $60.4m in FY21. Support below: Author calculations from WHLR 10-K's Q1-22 results were $15.5m of revenue (vs $14.7 in Q1-21), $10.2m NOI (vs $9.8m), and $2.3m of AFFO (vs $1.2m), so results appear on track. WHLR Investor Presentation CDR Acquisition Overview CDR Transaction Proxy Author summary from CDR FY21 10-K New WHLR Pro-Forma So how does this transaction change the complexion of Wheeler? Prior to the deal, WHLR has 5.5m leasable square feet with $9.62 average base rent. The acquisition will increase their square footage by around 50% and add slightly higher rents on a lower occupancy base. The CDR properties included in the transaction were about 28% of total CDR base rents and 38% of square footage. This equates to ~$36m of FY22 revenues on the acquired properties (28% of CDR's $127.6m FY21 total revenues) and doesn't assume any new leases for FY22. The pro-forma combined cashflow could look something like this: ~$100m revenue $33m property operations ($13m from CDR's 28% of operating expenses, $20m run rate for WHLR) $10m corporate overhead (~$6m run rate for WHLR, assume $4m increase from CDR, some could be non-cash and synergies could improve this number) $23m cash interest expense (5% estimate on $452m pro-forma debt below) $10m Capex ($28m total FY21 for CDR of which 28% is ~$8m, $1.1m for WHLR for "recurring Capex" in FY21) No Taxes
Seeking Alpha • Jul 08

Cedar Realty Trust closes sale of grocery-anchored portfolio

Cedar Realty Trust (NYSE:CDR) closed the earlier announced sale of a portfolio of 33 grocery-anchored shopping centers and a redevelopment property to a JV between a fund managed by DRA Advisors LLC and KPR Centers for total gross proceeds of ~$879M, including assumed debt. Earlier, it sold its Riverview Plaza redevelopment property for gross proceeds of ~$34M. These transactions are the first step in its earlier announced sale of assets and subsequent merger in a series of related all-cash transactions. The final step of the process, expected to be completed within 4-6 weeks, is the merger of the company with a subsidiary of Wheeler Real Estate Investment (NASDAQ:WHLR) in an all-cash transaction valuing remaining assets at $291.3M. Total net proceeds from the transactions will be distributed to common shareholders on merger completion.

Recent updates

Seeking Alpha • Aug 09

Cedar Realty Trust shareholders to receive $29/share from sale of assets and merger

Cedar Realty Trust (NYSE:CDR) announced that Cedar and Wheeler Real Estate Investment Trust have jointly decided that the proceeds to Cedar shareholders from the sale of assets and subsequent merger in a series of related all-cash transactions will total $29/share. Cedar board declared a special dividend on shares of Cedar's outstanding common stock of $19.52/share payable to shareholders of record at Aug.19, 2022. Assuming the merger transaction is completed on Aug. 22, 2022, payment of the dividend will be made to eligible shareholders on Aug. 26, 2022. Shareholders as of the merger closing date will also be entitled to receive merger consideration of $9.48/share, payable on or about the same date as the special dividend.
Seeking Alpha • Jul 21

Wheeler Real Estate Investment Trust Transformed By Cedar Deal

Wheeler recently cut a deal to take over the less-desirable properties from the Cedar Realty Trust liquidation. Despite the lower quality of these locations, they are actually well in line with the broader Wheeler portfolio and provide cash flow the business desperately needs. The opportunity exists to invest alongside Management in the senior notes, which appear poised to profit the most from an eventual sale of the business. The current situation at Wheeler Real Estate Investment Trust (WHLR) merits further consideration by investors willing to stomach some volatility and fully apprised of the risks. A brief summary follows: The Players Jon Wheeler - namesake of the business - was ousted after two ugly proxy battles. Joseph Stillwell - at the helm after winning his second proxy attempt. He had the initial misfortune of gaining control as Covid lockdowns began. Steamboat Capital Partners - owns portions of the WHLR capital stack, and has sued over treatment of preferred shareholders. Cedar Reality Trust (CDR) - winding down REIT that has agreed to sell WHLR a portfolio of properties for $130m cash and the assumption of CDR preferred shares. The sale is expected to close in the coming 2-4 weeks. Legacy WHLR Overview The legacy business had the following results in FY21: WHLR Investor Presentation $41.7m NOI, $6.8m Adjusted Funds from Operations (AFFO) Cap structure summary and new CDR acquisition pieces: $130m KeyBank bridge loan to WHLR, CDR B/C preferred ($161m face) Base rent has averaged ~77.5% of WHLR revenues over the past five fiscal years, and with 94% of properties rented at $9.62 for FY21, I therefore estimate Wheeler will earn ~$64m of FY22 revenue vs $60.4m in FY21. Support below: Author calculations from WHLR 10-K's Q1-22 results were $15.5m of revenue (vs $14.7 in Q1-21), $10.2m NOI (vs $9.8m), and $2.3m of AFFO (vs $1.2m), so results appear on track. WHLR Investor Presentation CDR Acquisition Overview CDR Transaction Proxy Author summary from CDR FY21 10-K New WHLR Pro-Forma So how does this transaction change the complexion of Wheeler? Prior to the deal, WHLR has 5.5m leasable square feet with $9.62 average base rent. The acquisition will increase their square footage by around 50% and add slightly higher rents on a lower occupancy base. The CDR properties included in the transaction were about 28% of total CDR base rents and 38% of square footage. This equates to ~$36m of FY22 revenues on the acquired properties (28% of CDR's $127.6m FY21 total revenues) and doesn't assume any new leases for FY22. The pro-forma combined cashflow could look something like this: ~$100m revenue $33m property operations ($13m from CDR's 28% of operating expenses, $20m run rate for WHLR) $10m corporate overhead (~$6m run rate for WHLR, assume $4m increase from CDR, some could be non-cash and synergies could improve this number) $23m cash interest expense (5% estimate on $452m pro-forma debt below) $10m Capex ($28m total FY21 for CDR of which 28% is ~$8m, $1.1m for WHLR for "recurring Capex" in FY21) No Taxes
Seeking Alpha • Jul 08

Cedar Realty Trust closes sale of grocery-anchored portfolio

Cedar Realty Trust (NYSE:CDR) closed the earlier announced sale of a portfolio of 33 grocery-anchored shopping centers and a redevelopment property to a JV between a fund managed by DRA Advisors LLC and KPR Centers for total gross proceeds of ~$879M, including assumed debt. Earlier, it sold its Riverview Plaza redevelopment property for gross proceeds of ~$34M. These transactions are the first step in its earlier announced sale of assets and subsequent merger in a series of related all-cash transactions. The final step of the process, expected to be completed within 4-6 weeks, is the merger of the company with a subsidiary of Wheeler Real Estate Investment (NASDAQ:WHLR) in an all-cash transaction valuing remaining assets at $291.3M. Total net proceeds from the transactions will be distributed to common shareholders on merger completion.
Seeking Alpha • Mar 15

Take A Shower After Reading The Wheeler/Cedar Merger

While seemingly beneficial to Cedar common the merger was a bit dirty. Preferred shareholders have had their collateral stripped out from under them. Each company has a complex capital stack with each section having a different benefit or harm from the M&A.  Invest cautiously.
Seeking Alpha • Jan 24

Cedar Realty Trust: Recent Upside Driven By Speculation

Cedar Realty Trust remains a mediocre company, with shares not trading any better than at the fair value level. Cedar Realty does have potential if it can turn around, but we haven't seen concrete data supporting this possibility. Recent upside in CDR stock has been driven by speculation that may or may not come to fruition.
Seeking Alpha • Sep 09

Cedar Realty Trust: A Mediocre Prospect At A Low Price

Cedar Realty Trust has achieved only mediocre performance for investors over the past few years. The pandemic negatively affected the company, but its financial performance is not bad. In fact, while debt is high, shares are cheap and might offer upside. Of course, this upside does come with corresponding risk.
Analysartikel • May 28

Here's Why It's Unlikely That Cedar Realty Trust, Inc.'s (NYSE:CDR) CEO Will See A Pay Rise This Year

The results at Cedar Realty Trust, Inc. ( NYSE:CDR ) have been quite disappointing recently and CEO Bruce Schanzer...
Analysartikel • Feb 24

Could The Cedar Realty Trust, Inc. (NYSE:CDR) Ownership Structure Tell Us Something Useful?

Every investor in Cedar Realty Trust, Inc. ( NYSE:CDR ) should be aware of the most powerful shareholder groups...
Analysartikel • Jan 03

Cedar Realty Trust's(NYSE:CDR) Share Price Is Down 77% Over The Past Five Years.

Cedar Realty Trust, Inc. ( NYSE:CDR ) shareholders will doubtless be very grateful to see the share price up 87% in the...

Aktieägarnas avkastning

CDRUS REITsUS Marknad
7D0.2%1.2%2.2%
1Y67.3%9.9%24.8%

Avkastning vs industri: CDR översteg US REITs branschen som gav 9.9 % under det senaste året.

Avkastning vs Marknaden: CDR översteg US marknaden som gav 24.8 % under det senaste året.

Prisvolatilitet

Is CDR's price volatile compared to industry and market?
CDR volatility
CDR Average Weekly Movement3.0%
REITs Industry Average Movement3.3%
Market Average Movement7.2%
10% most volatile stocks in US Market16.7%
10% least volatile stocks in US Market3.1%

Stabil aktiekurs: CDR har inte haft någon betydande prisvolatilitet under de senaste 3 månaderna jämfört med marknaden för US.

Volatilitet över tid: CDR s veckovolatilitet ( 3% ) har varit stabil under det senaste året.

Om företaget

GrundadAnställdaVD OCH KONCERNCHEFWebbplats
198456Bruce Schanzerwww.cedarrealtytrust.com

Cedar Realty Trust, Inc. Sammanfattning av grunderna

Hur förhåller sig Cedar Realty Trust:s resultat och omsättning till dess börsvärde?
CDR grundläggande statistik
BörsvärdeUS$385.36m
Vinst(TTM)-US$135.29m
Intäkter(TTM)US$122.55m
3.1x
P/S-förhållande
-2.8x
P/E-förhållande

Är CDR övervärderat?

Se Verkligt värde och värderingsanalys

Resultat & intäkter

Viktig lönsamhetsstatistik från den senaste resultatrapporten (TTM)
CDR resultaträkning (TTM)
IntäkterUS$122.55m
Kostnad för intäkterUS$45.19m
BruttovinstUS$77.36m
Övriga kostnaderUS$212.66m
Intäkter-US$135.29m

Senast redovisade vinst

Jun 30, 2022

Nästa vinstdatum

n/a

Vinst per aktie (EPS)-10.23
Bruttomarginal63.13%
Nettovinstmarginal-110.40%
Skuld/egenkapitalförhållande85.1%

Hur har CDR utvecklats på lång sikt?

Se historisk utveckling och jämförelse

Företagsanalys och finansiella data Status

UppgifterSenast uppdaterad (UTC-tid)
Analys av företag2022/08/23 10:16
Aktiekurs vid dagens slut2022/08/22 00:00
Intäkter2022/06/30
Årlig intjäning2021/12/31

Datakällor

Den data som används i vår företagsanalys kommer från S&P Global Market Intelligence LLC. Följande data används i vår analysmodell för att generera denna rapport. Data är normaliserade vilket kan medföra en fördröjning från det att källan är tillgänglig.

PaketUppgifterTidsramExempel US-källa
Företagets finansiella ställning10 år
  • Resultaträkning
  • Kassaflödesanalys
  • Balansräkning
Analytikernas konsensusuppskattningar+3 år
  • Prognos för finansiella poster
  • Analytikernas prismål
Marknadspriser30 år
  • Aktiekurser
  • Utdelningar, splittar och åtgärder
Ägarskap10 år
  • Största aktieägare
  • Insiderhandel
Förvaltning10 år
  • Ledningsgrupp
  • Styrelse och verkställande direktörer
Viktiga utvecklingstendenser10 år
  • Företagsmeddelanden

* Exempel för amerikanska värdepapper, för icke-amerikanska värdepapper används motsvarande regelverk och källor.

Om inget annat anges är all finansiell data baserad på en årsperiod men uppdateras kvartalsvis. Detta kallas data för efterföljande tolv månader (TTM) eller senaste tolv månader (LTM). Lär dig mer om detta.

Analysmodell och snöflinga

Detaljer om analysmodellen som användes för att skapa den här rapporten finns på vår Github-sida, vi har också guider om hur du använder våra rapporter och tutorials på Youtube.

Lär dig mer om det team i världsklass som utformade och byggde analysmodellen Simply Wall St.

Industri- och sektormått

Våra bransch- och sektionsmått beräknas var sjätte timme av Simply Wall St, detaljer om vår process finns tillgängliga på Github.

Källor för analytiker

Cedar Realty Trust, Inc. bevakas av 8 analytiker. av dessa analytiker lämnade de uppskattningar av intäkter eller resultat som användes som indata till vår rapport. Analytikernas inskickade estimat uppdateras löpande under dagen.

AnalytikerInstitution
Richard MilliganBaird
Paul AdornatoBMO Capital Markets Equity Research
Craig SchmidtBofA Global Research