Welcome to our dedicated page for CDR news (Ticker: CDR), a resource for investors and traders seeking the latest updates and insights on CDR stock.
Cedar Realty Trust, Inc. is a fully-integrated real estate investment trust (REIT) dedicated to the ownership, operation, and redevelopment of grocery-anchored shopping centers in high-density urban areas stretching from Washington, D.C. to Boston. The company's diverse portfolio, which excludes properties marked as 'held for sale,' includes 54 properties encompassing approximately 8.2 million square feet of gross leasable area.
Known for their strategic focus on grocery-anchored shopping centers, Cedar Realty Trust aims to provide high-quality retail spaces that meet the daily needs of urban communities. These centers not only enhance local commerce but also contribute to the economic vibrancy of the neighborhoods they serve.
In recent developments, Cedar Realty Trust has been active in updating its financial disclosures. On January 24, 2024, the company announced the federal income tax treatment of its 2023 distributions to holders of its preferred shares. This detailed announcement included information relevant to capital gain distributions, such as the Unrecaptured Section 1250 Gain and Section 897 Capital Gain amounts, as well as disclosures required by Treasury Regulation §1.1061-6(c).
For the year ended December 31, 2023, Cedar Realty Trust reported that all capital gain dividends relate to Section 1231 gains, with both 'The One Year Amounts' and 'Three Year Amounts' being zero. Shareholders are encouraged to consult their tax advisors for specific tax treatment of these dividends.
As a wholly owned subsidiary of Wheeler Real Estate Investment Trust, Inc., Cedar Realty Trust continues to focus on maximizing the value of its retail properties and ensuring strong community connections through strategic property management and redevelopment. The company's commitment to operational excellence and sustainable growth underscores its position as a leading player in the REIT sector.
Cedar Realty Trust (NYSE: CDR) has announced a cash dividend of $0.066 per share on its common stock, payable on November 22, 2021, to shareholders of record as of November 12, 2021. Additionally, the company will pay a dividend of $0.453125 per share on its 7¼% Series B Preferred Stock and $0.40625 per share on its 6½% Series C Preferred Stock, both also payable on November 22, 2021. Cedar Realty Trust focuses on grocery-anchored shopping centers in high-density urban markets along the East Coast.
Cedar Realty Trust has appointed Jennifer Bitterman as its new Chief Financial Officer, effective immediately, succeeding Philip Mays, who is leaving for another opportunity. Bitterman has been with the company since 2011 and previously served as Senior VP of Corporate and Portfolio Management. Additionally, Cedar has amended its revolving credit facility to allow for $185 million of borrowings, maturing in August 2024, and extended a $50 million term loan to August 2026, enhancing its financial flexibility.
Cedar Realty Trust (NYSE: CDR) has initiated a dual-track process to explore strategic alternatives aimed at maximizing shareholder value. This includes potential sales or mergers of the Company or its grocery-anchored shopping center portfolio and mixed-use redevelopment projects. The strategic review, which was previously disrupted by COVID-19, is guided by a special committee. The Board intends to address the perceived disconnect between Cedar's share price and its underlying real estate value. B of A Securities, JLL, and CBRE are advising the Company on this process.
Cedar Realty Trust reported a strong second quarter in 2021, with net income of $48.4 million, or $3.52 per diluted share, contrasting with a loss of $8.8 million in Q2 2020. The company's funds from operations (FFO) were $0.59 per diluted share, up from $0.41 per share during the same period last year. Notably, same-property net operating income surged by 8.2%. The firm achieved a 96.8% collection rate for rents and completed 38 leases covering 199,300 square feet. Financial maneuvers included a $114 million mortgage and significant property sales totaling $99.5 million.
Cedar Realty Trust, Inc. (NYSE: CDR) announced a cash dividend of $0.066 per share on Common Stock, payable on August 20, 2021, to shareholders of record by August 10, 2021. Additionally, the Board approved a dividend of $0.453125 per share on 7¼% Series B Cumulative Redeemable Preferred Stock and $0.40625 per share on 6½% Series C Cumulative Redeemable Preferred Stock, both payable on the same date with the same record date. Cedar Realty Trust focuses on grocery-anchored shopping centers in urban markets from Washington, D.C. to Boston.
Cedar Realty Trust (NYSE: CDR) will release its financial results for Q2 2021 on July 29, 2021, after market close. A conference call will follow at 5:00 PM ET to discuss the results. The company operates 53 grocery-anchored shopping centers across high-density urban areas from Washington, D.C., to Boston, totaling approximately 7.6 million square feet of leasable space. Investors can access the call via phone or a live webcast on their website.
Quinn Residences announced Richard Ross as the new CEO and James Howley as Chief Investment Officer, effective immediately. Ross, previously CFO, has led the company since its inception, while Howley brings over a decade of real estate investment experience. Quinn operates over 1,000 single-family rental homes across seven Southeastern markets and aims to double its portfolio in 2022. The leadership changes come as the company strives to capitalize on growing demand for high-quality rental housing in attractive markets.
Cedar Realty Trust announced the sale of the Camp Hill Shopping Center in Camp Hill, Pennsylvania, for approximately $89.7 million at a cap rate of about 6.5%. The center, which is 97% leased, is anchored by a Giant supermarket, Boscov's, LA Fitness, and Barnes & Noble. CEO Bruce Schanzer highlighted a discrepancy between private market valuations of grocery-anchored properties and public equity market valuations, indicating potential for future strategic actions if this dislocation continues.
Cedar Realty Trust (NYSE: CDR) reported a net loss of $1.6 million or $0.12 per diluted share for Q1 2021, a decrease from $4.9 million or $0.39 per share in Q1 2020. Operating FFO was $0.62 per diluted share, down from $1.17 a year earlier. The company collected 95.7% of its rents and signed 31 leases covering 268,000 square feet. However, same-property NOI fell 5.1%, and the portfolio was 87.8% leased, down from 93.2% a year prior. Notably, Cedar closed a $114 million mortgage and formed a joint venture for a commercial building in D.C.
Cedar Realty Trust (NYSE: CDR) has announced a joint venture with Asland Capital Partners and Goldman Sachs Urban Investment Group for the development of Northeast Heights, a mixed-use project in Washington D.C.'s Ward 7. This first phase includes a six-story, 258,500 square foot commercial building, fully leased to the D.C. Department of General Services, with $105 million in construction financing from J.P. Morgan. The project aims to revitalize the area and create economic opportunities, with construction set to begin in Q2 2021.
FAQ
What is the market cap of CDR (CDR)?
What does Cedar Realty Trust, Inc. specialize in?
How many properties are in Cedar Realty Trust's portfolio?
What recent financial announcement did Cedar Realty Trust make?
Who owns Cedar Realty Trust, Inc.?
What is the focus of Cedar Realty Trust's redevelopment projects?
Are there any properties in Cedar Realty Trust's portfolio marked 'held for sale'?
What should shareholders do regarding the specific tax treatment of 2023 dividends?
What is the gross leasable area of Cedar Realty Trust's portfolio?
What percentage of the 2023 capital gain distributions relate to Section 1231 gains?
Where can I find more information about Cedar Realty Trust?
