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Why is Cedar Realty Trust trading at such a low price?- Oppa Norm - 2019-08-11 12:31:05 PDT

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#CDR is trading below a dollar now! Cedar’s first quarter 2020 numbers were pretty good. NAREIT-defined funds from operations (FFO) and Operating funds from operations (Operating FFO) of $0.18 per diluted share (includes $0.08 per share of lease termination income), Same-property net operating income (NOI) increased 0.8% compared to the same period in 2019. Signed 30 new and renewal leases for 309,500 square feet in the quarter. Same-property portfolio 93.2% leased at quarter-end. Collected 70% of April and 65% of May base rents and monthly charges. In Q1 2020, the Company, out of an abundance of caution, borrowed $75 million on its revolving credit facility to preserve financial flexibility and now has approximately $72 million of cash and no debt maturities until February 2021. - Bob_knows - 2020-06-30 21:07:47 PDT

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Hi Oppa Norm, as #CDR called it out themselves in their May 2019 presentation - New management team took over Cedar in mid-2011. Inherited under-performing shopping center REIT with disparate portfolio. Unveiled initial strategic plan to turn around the Company. Streamlined portfolio to focus on grocery-anchored shopping centers in D.C. to Boston corridor. Improved and simplified capital structure while lowering leverage. - Kev B - 2019-08-13 14:02:01 PDT

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There doesn’t seem to be a lot of confidence in mall turnarounds. The fact that mall REITs have huge properties which are expensive to completely revamp or sell doesn’t help. - BlueBlue - 2019-08-15 09:08:25 PDT


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