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.
Cedar Realty Trust (NYSE: CDR) announced the appointment of three new independent directors: Darcy D. Morris, Richard H. Ross, and Sharon Stern, effective immediately. This change follows Cooperation Agreements with Camac Partners and Ewing Morris, leading to the withdrawal of their director nominations in support of Cedar's full slate at the upcoming 2021 Annual Meeting. The addition of these directors will temporarily expand the Board from seven to ten, before returning to eight post-meeting, with seven being independent. This move aims to enhance governance and align with shareholder interests.
Cedar Realty Trust, Inc. (NYSE: CDR) has announced a cash dividend of $0.066 per share for its Common Stock, scheduled for payment on May 20, 2021, to shareholders of record by May 10, 2021. Additionally, the company will pay $0.453125 for its Series B Preferred Stock and $0.40625 for its Series C Preferred Stock, also payable on May 20, 2021, to the same record date. Cedar Realty Trust specializes in grocery-anchored shopping centers and manages a portfolio of 54 properties covering approximately 8.1 million square feet.
Cedar Realty Trust (CDR) will release its financial results for Q1 2021 on May 6, 2021, after market close. A conference call to discuss these results is scheduled for the same day at 5:00 PM ET. Investors can access a live webcast on the company's website or dial in via provided numbers. CDR is a real estate investment trust focusing on grocery-anchored shopping centers in urban markets from Washington, D.C. to Boston, managing 54 properties with approximately 8.2 million square feet of gross leasable area.
Cedar Realty Trust, Inc. (NYSE: CDR) issued a statement on March 2, 2021, addressing recent SEC filings and shareholder announcements. The company highlighted its commitment to shareholder value and its ongoing strategic review process, which had been disrupted by the COVID-19 pandemic. Cedar Realty intends to strengthen its board and enhance corporate governance. The company operates 54 properties totaling approximately 8.2 million square feet, focusing on grocery-anchored shopping centers. Cedar Realty is focused on navigating post-pandemic recovery and maximizes shareholder value.
Camac Partners has nominated seven director candidates for Cedar Realty Trust's board to enhance shareholder value after a reported decline of nearly $500 million. The nominees are experienced industry professionals committed to independent governance. Camac's strategy includes significant board refreshment, a cost-conscious reorganization, divestiture of non-core assets, and a halt to value-destructive projects. The firm emphasizes that Cedar Realty's board has not adequately pursued potential value-maximizing transactions.
Cedar Realty Trust (NYSE:CDR) reported mixed financial results for Q4 and full year 2020. The company achieved net income of $3.3 million ($0.25 per diluted share) for Q4, but posted a net loss of $(11.8) million ($(0.92) per diluted share) for the year. FFO stood at $0.71 for Q4 and $2.88 for the year. However, same-property NOI decreased by 4.1% in Q4 and 6.8% for the year. The company's portfolio was 91.2% leased as of year-end. They also conducted a 1-for-6.6 reverse stock split and repaid a $75 million loan, while facing challenges related to COVID-19.
Cedar Realty Trust (NYSE: CDR) announced the tax treatment for its 2020 distributions to common and preferred shareholders. Key distributions included $0.08 per share for common stock and $1.81 per share for Series B preferred stock, all classified as non-dividend distributions. Record and payable dates were specified for each distribution. The company operates grocery-anchored shopping centers in urban areas from Washington, D.C. to Boston, with a portfolio of 54 properties totaling about 8.2 million square feet.
Cedar Realty Trust (NYSE: CDR) has announced a cash dividend payment of $0.066 per share on its Common Stock, payable on February 22, 2021, to shareholders of record by February 10, 2021. Additionally, the Board approved a dividend of $0.453125 per share on the 7 ¼% Series B Cumulative Redeemable Preferred Stock, and $0.40625 per share on the 6 ½% Series C Cumulative Redeemable Preferred Stock, both payable on the same date to the same record date. Cedar Realty focuses on grocery-anchored shopping centers in urban markets, with a portfolio of 54 properties comprising approximately 8.2 million square feet.
Cedar Realty Trust, Inc. (NYSE: CDR) announced it will release its financial results for Q4 2020, ending December 31, after market close on February 4, 2021. A conference call to discuss these results will follow at 5:00 PM ET the same day, accessible via phone or live webcast on the company's website. Cedar Realty Trust focuses on owning and operating grocery-anchored shopping centers in urban areas from Washington, D.C. to Boston, with a portfolio of 54 properties totaling approximately 8.2 million square feet of gross leasable area.
Cedar Realty Trust (NYSE: CDR) has appointed Gregg Gonsalves as Chairman of the Board, effective January 1, 2021. Gonsalves has been a director since 2017 and succeeds Roger Widmann, who served as Chairman since 2011 and becomes Chairman Emeritus. Both Gonsalves and Widmann emphasized the importance of leadership and the future direction of the company. Cedar Realty Trust focuses on grocery-anchored shopping centers in urban markets along the Washington, D.C. to Boston corridor, comprising 54 properties with around 8.2 million square feet of leasable space.