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, Inc. (NYSE: CDR) has successfully completed its 1-for-6.6 reverse stock split effective November 27, 2020. This process converts every 6.6 shares into one new share of common stock, with cash provided for fractional shares. Concurrently, the operating partnership subsidiary conducted a similar reverse unit split. Cedar Realty Trust focuses on grocery-anchored shopping centers in urban markets, managing a portfolio of 54 properties encompassing approximately 8.2 million square feet.
Cedar Realty Trust (NYSE: CDR) has announced a 1-for-6.6 reverse stock split of its common stock, effective at 9:00 a.m. Eastern time on November 27, 2020. This action will reduce outstanding shares from approximately 89.3 million to 13.5 million. The company will also assign a new CUSIP number: 150602 605. Consequently, the quarterly dividend will be adjusted, with future amounts determined by the Board of Directors. Fractional shares will be converted to cash based on average closing prices around November 25, 2020.
Cedar Realty Trust (NYSE: CDR) reported a net loss of $(0.02) per diluted share for Q3 2020, compared to the same period in 2019. Key highlights include:
- NAREIT-defined FFO increased to $0.09 per share from $0.06.
- Same-property NOI decreased by 9.1%.
- 91% of base rents were collected, up from 77%.
- 33 leases signed for 249,200 sq. ft.
- Portfolio 91.7% leased, down from 93% last year.
Additionally, a reverse stock split was approved for completion by December 31, 2020.
Cedar Realty Trust, Inc. (NYSE: CDR) has announced a cash dividend of $0.01 per share on common stock, payable on November 20, 2020, to shareholders of record as of the close of business on November 10, 2020. Additionally, the Board approved a dividend of $0.453125 per share for its 7 ¼% Series B Cumulative Redeemable Preferred Stock and $0.40625 per share for its 6 ½% Series C Cumulative Redeemable Preferred Stock, both also payable on November 20, 2020. Cedar Realty Trust focuses on grocery-anchored shopping centers with a portfolio of 55 properties and approximately 8.3 million square feet of gross leasable area.
Cedar Realty Trust (NYSE: CDR) will release its financial results for the third quarter of 2020 on October 29, 2020, after market close. A conference call is scheduled for the same day at 5:00 PM ET to discuss these results. Investors can access a live webcast on the company's website. Cedar Realty Trust focuses on grocery-anchored shopping centers in urban markets from Washington, D.C. to Boston, managing a portfolio of 55 properties totaling approximately 8.3 million square feet of gross leasable area.
Cedar Realty Trust reported a net loss of $(0.10) per diluted share in Q2 2020, down from a profit of $0.03 per share in 2019, largely due to COVID-19 impacts. Funds from Operations (FFO) dropped to $0.06 per share, down from $0.11. Same-property NOI decreased by 14.6%, with only 77% of rent collected. The company signed 21 leases for 182,300 square feet, but faced a negative lease spread of (3.9%). Use of funds included repayment of $70 million in borrowings. Management remains optimistic about new leasing agreements despite ongoing challenges.
Cedar Realty Trust (NYSE: CDR) will release financial results for the three-month period ending June 30, 2020, on August 10, 2020, after market close. Following the earnings announcement, a conference call is scheduled for 5:00 PM (ET) to discuss the results. Interested parties can access the call via phone or web, with a replay available until August 24, 2020. Cedar Realty Trust focuses on grocery-anchored shopping centers, boasting a portfolio of 55 properties and approximately 8.3 million square feet of gross leasable area in urban markets from Washington, D.C. to Boston.
Cedar Realty Trust, Inc. (NYSE: CDR) plans to release its financial results for the second quarter ended June 30, 2020, following market close on August 13, 2020. A conference call will take place the same day at 5:00 PM ET for discussion of the results. Investors can access the call via the company's website or by phone. Cedar Realty Trust operates grocery-anchored shopping centers in urban markets from Washington, D.C. to Boston, managing a portfolio of 55 properties totaling approximately 8.3 million square feet.