Welcome to our dedicated page for Cedar Realty Trust news (Ticker: CDR), a resource for investors and traders seeking the latest updates and insights on Cedar Realty Trust stock.
Cedar Realty Trust, Inc. (CDR) generates news primarily as a real estate investment trust (REIT) focused on income-producing retail properties and grocery-anchored shopping centers in the Northeast. Company announcements have covered its strategic review of alternatives, large-scale asset sales, and its merger with Wheeler Real Estate Investment Trust, Inc., as well as ongoing communications related to its preferred stock.
News items for Cedar Realty Trust include updates on portfolio transactions, such as the completed sale of a portfolio of 33 grocery-anchored shopping centers and a redevelopment property to a joint venture between a fund managed by DRA Advisors LLC and KPR Centers. Releases have also detailed the sale of specific redevelopment properties, the structure and timing of cash proceeds to shareholders, and the steps leading to the all-cash merger with a Wheeler subsidiary.
Another important category of coverage involves capital markets and shareholder actions. Cedar and Wheeler jointly announced the completion of their merger, explaining that Wheeler acquired all outstanding shares of Cedar’s common stock and that Cedar’s common stock would no longer trade on the NYSE. Cedar has also issued news about special dividends and the mechanics of NYSE due-bill procedures tied to those distributions.
For ongoing investors in Cedar’s preferred stock, news releases provide information on preferred dividend declarations and the federal income tax treatment of distributions, including the breakdown of ordinary dividends, capital gains, and nondividend distributions. Together, these items create a historical and continuing record of Cedar’s transition from an independent NYSE-listed REIT to a wholly owned subsidiary of Wheeler and its continuing obligations to preferred shareholders.
Users following CDR-related news can review this stream to understand the evolution of Cedar’s business, the details of its asset sales and merger, and the latest information affecting its preferred stock distributions and tax reporting.
Franklin Street Properties (NYSE American: FSP) announced the appointment of Bruce J. Schanzer to its Board of Directors, effective November 27, 2024. Schanzer will also serve on the Audit Committee, bringing the total board size to eight directors, with seven being independent. The company has entered into a Cooperation Agreement with significant shareholders Converium Capital and Erez Asset Management, who will vote in favor of the Board's director nominees at the 2025 Annual Meeting. The agreement includes customary standstill and voting provisions.
Cedar Realty Trust (NYSE:CDRpB, CDRpC) has declared dividends on its preferred stock. The company will pay $0.453125 per share on its 7.25% Series B Cumulative Redeemable Preferred Stock and $0.40625 per share on its 6.50% Series C Cumulative Redeemable Preferred Stock. Both dividends are payable on August 20, 2024, to shareholders of record as of August 9, 2024. This announcement demonstrates Cedar Realty Trust's commitment to providing returns to its preferred stockholders and maintaining its dividend schedule.
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Wheeler Real Estate Investment Trust (NASDAQ:WHLR) has completed its merger with Cedar Realty Trust (NYSE:CDR), finalizing a strategic sale process. The merger establishes Wheeler as the owner of all outstanding shares of Cedar's common stock, which will no longer be publicly traded. Shareholders will receive $9.48 per share in cash, in addition to a special dividend of $19.52 per share declared prior to the merger. Cedar’s preferred stocks remain publicly traded. This merger is expected to enhance Wheeler’s portfolio in the retail sector.
Cedar Realty Trust has declared a special dividend of $19.52 per share, pending the completion of its merger with Wheeler Real Estate Investment Trust, Inc. Shareholders will receive a total of $29.00 per share from the sale of Cedar's assets and the merger. The special dividend is payable to shareholders on record by August 19, 2022, with payment expected on August 26, 2022. The merger closing is anticipated on August 22, 2022.
Cedar Realty Trust, Inc. (NYSE:CDR) reported a net loss of $(3.41) per diluted share for Q2 2022, a decline from a profit of $3.52 per share in Q2 2021. The NAREIT-defined FFO dropped to negative $(1.64) per share, influenced by transaction costs from major asset sales. The company executed 32 leases covering 178,600 square feet, but same-property NOI decreased by 3.5%. Significant transactions included the sale of Riverview Plaza for $34 million and a grocery-anchored portfolio for $879 million, with the firm suspending its common stock dividend policy. Net proceeds from the merger are estimated at $29 per share.
Cedar Realty Trust, Inc. (NYSE: CDR) announced a cash dividend of $0.453125 per share on its 7¼% Series B Cumulative Redeemable Preferred Stock and $0.40625 per share on its 6½% Series C Cumulative Redeemable Preferred Stock. Both dividends will be payable on August 22, 2022, to shareholders recorded by August 12, 2022. Cedar Realty Trust specializes in grocery-anchored shopping centers across urban markets from Washington, D.C. to Boston, with a portfolio comprising 17 properties totaling approximately 2.6 million square feet.
Cedar Realty Trust has completed the sale of 33 grocery-anchored shopping centers and a redevelopment property to a joint venture led by DRA Advisors for $879 million, including assumed debt. The prior sale of the Riverview Plaza redevelopment generated $34 million. This marks the first phase of the company's asset sale and merger with Wheeler Real Estate Investment Trust, which is anticipated to finalize in 4-6 weeks, valuing remaining assets at $291.3 million. Proceeds will be distributed to common shareholders post-merger.
Cedar Realty Trust (NYSE: CDR) has completed the sale of 33 grocery-anchored shopping centers and a redevelopment property for approximately
Cedar Realty Trust reported Q1 2022 results, showing a net loss of $0.28 per diluted share, compared to a net loss of $0.12 per diluted share in Q1 2021. The company achieved NAREIT-defined FFO of $0.38 per diluted share and Operating FFO of $0.65 per diluted share. Rental collections were strong at 97%, with same-property NOI increasing by 1.7%. Notable asset sales included Riverview Plaza for $34 million and a grocery-anchored portfolio for $840 million. However, the company suspended its common stock dividend for Q2 2022, pending strategic asset sales' completion.