CDRPC - CDRPC STOCK NEWS

Cedar Realty Trust has released the federal income tax treatment details for its 2024 preferred share distributions. For Series B Preferred Stock (CDRpB), quarterly distributions of $0.453125 per share were made on February 20, May 20, August 20, and November 20, 2024, totaling $1.812500 per share annually. For Series C Preferred Stock (CDRpC), quarterly distributions of $0.406250 per share were made on the same dates, totaling $1.625000 per share annually. All distributions for both series were classified as nondividend distributions, with no ordinary or Section 199A dividends.

Cedar Realty Trust (NYSE:CDRpB, CDRpC) has announced a 'modified Dutch auction' tender offer to purchase up to $12,500,000 of its outstanding 6.50% Series C Cumulative Redeemable Preferred Stock. The offer price range is set between $13.75 and $15.75 per Series C Share.

The tender offer will run from December 27, 2024, to January 28, 2025. The company will determine the lowest price within the specified range that allows it to purchase the targeted amount of shares. All purchased shares will be acquired at the same final price, paid in cash.

If the tender offer is oversubscribed, shares will be purchased on a pro rata basis. The offer is not contingent on financing or minimum tender requirements but is subject to other terms and conditions.

Cedar Realty Trust announced the final results of its modified 'Dutch auction' tender offer to repurchase shares of its 6.50% Series C Cumulative Redeemable Preferred Stock. The company accepted 688,670 Series C Shares at a final purchase price of $14.00 per share, representing approximately 14% of outstanding Series C Shares. The total purchase amount was $9.6 million, excluding fees and expenses. The company may purchase additional shares in the future, subject to various factors and a mandatory 10-business-day waiting period after the tender offer expiration.

Cedar Realty Trust announced preliminary results of its modified 'Dutch auction' tender offer to repurchase up to $9 million of its 6.50% Series C Cumulative Redeemable Preferred Stock. Based on preliminary counts, approximately 671,355 Series C Shares were properly tendered at or below the estimated purchase price of $14.35 per share. The company expects to purchase about 627,178 Series C Shares. Due to oversubscription, purchases will be prorated among holders. Final results and payments will be announced after the guaranteed delivery period and confirmation process.

Cedar Realty Trust has announced dividend payments for its preferred stock. The company's Board of Directors has declared:

• A cash dividend of $0.453125 per share on the 7.25% Series B Cumulative Redeemable Preferred Stock
• A cash dividend of $0.40625 per share on the 6.50% Series C Cumulative Redeemable Preferred Stock

Both dividends are payable on November 20, 2024, to shareholders of record as of the close of business on November 8, 2024. Cedar Realty Trust trades under the ticker symbols CDRpB and CDRpC on the NYSE.

Cedar Realty Trust (NYSE:CDRpB)(NYSE:CDRpC) has announced plans to commence a 'modified Dutch auction' tender offer on September 25, 2024. The offer aims to purchase up to $9 million of outstanding 6.50% Series C Cumulative Redeemable Preferred Stock at a price between $13.25 and $15.50 per share. The offer is expected to expire on October 24, 2024, unless extended.

The company will determine the lowest price within the specified range that allows it to purchase up to $9 million of Series C Shares. All shares will be purchased at the same final price. If more than $9 million worth of shares are tendered, purchases will be made on a pro rata basis. The offer is not contingent on financing or a minimum number of shares being tendered.

Georgeson will serve as the information agent, and Computershare Inc. as the depositary for the tender offer. Alston & Bird LLP is acting as counsel to the company.

Cedar Realty Trust has declared cash dividends for its preferred stock series. The 7.25% Series B Cumulative Redeemable Preferred Stock will pay $0.453125 per share, while the 6.50% Series C Cumulative Redeemable Preferred Stock will pay $0.40625 per share. Both dividends are payable on February 20, 2023, to shareholders of record as of February 10, 2023. Cedar Realty Trust primarily focuses on grocery-anchored shopping centers in the Northeast, managing a portfolio of 19 properties with approximately 2.8 million square feet of gross leasable area.