CDRPB Stock Price, News & Analysis

CDRPB is the NYSE ticker symbol for the 7.25% Series B Cumulative Redeemable Preferred Stock of Cedar Realty Trust, Inc. According to company disclosures, Cedar Realty Trust is a Maryland corporation taxed as a real estate investment trust and is a wholly owned subsidiary of Wheeler Real Estate Investment Trust, Inc. The company states that it focuses on owning and operating income-producing retail properties, with a primary emphasis on grocery-anchored shopping centers in the Northeast.

Cedar Realty Trust describes its portfolio as consisting of shopping center properties with approximately 2.3 million square feet of gross leasable area. In the tender offer and dividend announcements, the company refers to its 7.25% Series B Cumulative Redeemable Preferred Stock and 6.50% Series C Cumulative Redeemable Preferred Stock as its preferred stock. The CDRPB preferred shares represent an equity security senior to Cedar Realty Trust’s common equity and are entitled to a stated dividend rate, as reflected in the company’s recurring dividend declarations on the Series B preferred stock.

The company’s press releases indicate that Cedar Realty Trust’s preferred stock trades on the New York Stock Exchange under the symbols CDRpB and CDRpC. The Board of Directors has repeatedly declared cash dividends on the 7.25% Series B Cumulative Redeemable Preferred Stock, and the company has undertaken tender offers and repurchase authorizations relating to this preferred stock. These actions highlight that the CDRPB security is a key part of the company’s capital structure.

Business focus and property portfolio

In its public communications, Cedar Realty Trust explains that it focuses on owning and operating income-producing retail properties. The company notes a primary focus on grocery-anchored shopping centers in the Northeast, indicating that grocery tenants are central anchors within its retail centers. The portfolio is described as comprising 14 or 15 properties, depending on the specific press release, with an aggregate of approximately 2.3 million square feet of gross leasable area.

Because Cedar Realty Trust is taxed as a real estate investment trust, its business model as described in the releases centers on holding and operating these retail properties. The emphasis on grocery-anchored shopping centers suggests that the company’s properties are organized around grocery stores that serve as primary tenants within its centers. The company’s statements do not provide further segment breakdowns beyond this focus on income-producing retail properties in the Northeast.

Capital structure and preferred stock

The CDRPB security is specifically identified as the company’s 7.25% Series B Cumulative Redeemable Preferred Stock. Cedar Realty Trust has repeatedly announced dividends on this preferred series, describing the payment of a cash dividend per share on the Series B preferred stock, with record and payment dates specified in each release. The company also references its 6.50% Series C Cumulative Redeemable Preferred Stock, which trades under a separate NYSE preferred ticker.

Cedar Realty Trust has undertaken several corporate actions involving its preferred stock, including:

• Tender offers to purchase shares of its 7.25% Series B Cumulative Redeemable Preferred Stock and 6.50% Series C Cumulative Redeemable Preferred Stock, subject to caps on the number of shares and aggregate purchase amounts.
• Announcements of preliminary and final results of these tender offers, including the number of preferred shares tendered, the number accepted for purchase, and the resulting proportion of outstanding preferred shares acquired.
• A Board-authorized repurchase program allowing the company to repurchase up to an aggregate amount of its Series B and Series C preferred stock over a defined period, through open market purchases, privately negotiated transactions, block trades or other means, subject to applicable securities laws.

These disclosures show that CDRPB is not only a dividend-paying preferred security but also a focus of the company’s capital management activities, through tender offers and repurchase authorizations.

Relationship to Wheeler Real Estate Investment Trust, Inc.

In the “About Cedar Realty Trust” sections of its press releases, the company states that Cedar Realty Trust, Inc. is a wholly owned subsidiary of Wheeler Real Estate Investment Trust, Inc. This means that Cedar Realty Trust operates under the ownership of Wheeler, while itself being organized as a Maryland corporation taxed as a real estate investment trust. The releases do not provide additional detail on Wheeler’s operations beyond noting this ownership relationship.

Geographic and sector classification

Based on the company’s own description, Cedar Realty Trust operates in the real estate sector, with an emphasis on retail properties. Its stated focus on grocery-anchored shopping centers in the Northeast places its activities within the retail real estate and shopping center segment of the broader real estate investment trust space. The company’s communications do not specify particular states or cities beyond indicating that its properties are in the Northeast.

CDRPB as an investment security

For investors researching CDRPB, the company’s press releases highlight several characteristics of the security:

• It is a series of cumulative redeemable preferred stock, meaning that declared but unpaid dividends accumulate according to the terms described by the company.
• The stated dividend rate on the Series B preferred stock is 7.25%, as referenced in the series name in each release.
• The company’s Board has repeatedly declared cash dividends on the Series B preferred stock, specifying per-share amounts and record and payment dates in each announcement.
• The company has conducted tender offers and authorized repurchases of the Series B preferred stock, which may affect the number of shares outstanding over time.

All of these points are drawn from Cedar Realty Trust’s own public communications and relate directly to the CDRPB preferred stock and the company’s real estate-focused business model.

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