Cedar Realty Trust Announces Preferred Stock Repurchase Authorization

Rhea-AI Summary

Cedar Realty Trust (NYSE:CDRPB, CDRPC) announced a significant preferred stock repurchase program authorized by its Board of Directors on August 8, 2025. The program allows for the repurchase of up to $20 million of the company's 7.25% Series B and 6.50% Series C Cumulative Redeemable Preferred Stock over a 24-month period.

The repurchases can be executed through various means including open market transactions, private negotiations, and block trades. The company maintains flexibility in the program's implementation, with timing, price, and volume dependent on market conditions and regulatory requirements. Cedar Realty is not obligated to repurchase any shares and may suspend the program at any time.

Positive

• Authorization of $20 million preferred stock repurchase program shows financial strength
• 24-month duration provides flexibility in execution timing
• Program demonstrates commitment to capital return and shareholder value

Negative

• Repurchase program may reduce available capital for other investments
• No guarantee of full program execution as repurchases are optional

VIRGINIA BEACH, VIRGINIA / ACCESS Newswire / August 12, 2025 / Cedar Realty Trust, Inc. (NYSE:CDRpB)(NYSE:CDRpC) (the "Company") announced today that its Board of Directors authorized on August 8, 2025 the repurchase of up to an aggregate amount of $20 million of the Company's 7.25% Series B Cumulative Redeemable Preferred Stock and 6.50% Series C Cumulative Redeemable Preferred Stock (together, the "Preferred Stock") over a period of 24 months. Preferred Stock repurchases may be made in the open market, through privately negotiated transactions, block trades or other means, as determined by management, in accordance with applicable securities laws, including through repurchase plans complying with the rules and regulations of the U.S. Securities and Exchange Commission. The Company is not required to repurchase any shares of Preferred Stock. The timing, price and actual number of shares of Preferred Stock repurchased will depend on a variety of factors, including price, market conditions and regulatory requirements. Repurchases may be commenced or suspended at any time without prior notice.

About Cedar Realty Trust

Cedar Realty Trust, Inc., a wholly-owned subsidiary of Wheeler Real Estate Investment Trust, Inc., is a Maryland corporation (taxed as a real estate investment trust) that focuses on owning and operating income producing retail properties with a primary focus on grocery-anchored shopping centers in the Northeast. Cedar's portfolio comprises 14 properties, with approximately 2.3 million square feet of gross leasable area.

For additional financial and descriptive information on the Company, its operations and its portfolio, please refer to the Company's website at www.whlr.us.

Contact Information:

Cedar Realty Trust, Inc.
(757) 627-9088

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements, which are based on certain assumptions and describe the Company's future plans, strategies and expectations, are generally identifiable by use of the words "may", "will", "should", "estimates", "projects", "anticipates", "believes", "expects", "intends", "future", and words of similar import, or the negative thereof. These statements are not guarantees of future performance and are subject to risks, uncertainties and other factors, some of which are beyond the Company's control, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements.

Forward-looking statements that were true at the time made may ultimately prove to be incorrect or false. You are cautioned to not place undue reliance on forward-looking statements. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

SOURCE: Cedar Realty Trust, Inc.

View the original press release on ACCESS Newswire

FAQ

What is the size of Cedar Realty Trust's preferred stock repurchase program?

Cedar Realty Trust authorized a $20 million preferred stock repurchase program for its Series B and Series C preferred shares.

How long will Cedar Realty's CDRPB and CDRPC preferred stock repurchase program last?

The preferred stock repurchase program will last for 24 months from the authorization date of August 8, 2025.

What are the dividend rates for Cedar Realty Trust's preferred stocks being repurchased?

The program targets the 7.25% Series B and 6.50% Series C Cumulative Redeemable Preferred Stock.

How will Cedar Realty Trust execute its preferred stock repurchase program?

The company can execute repurchases through open market purchases, privately negotiated transactions, and block trades, with flexibility to adjust based on market conditions.

Is Cedar Realty Trust required to complete the full preferred stock repurchase program?

No, the company is not required to repurchase any shares and can suspend the program at any time without prior notice.