UPDATE: Wunderlich Initiates Coverage on Cedar Realty Trust on Simple Sharpshooter Strategy
In a report published Friday, Wunderlich Securities analyst Craig Kucera initiated coverage on Cedar Realty Trust (NYSE: CDR) with a Buy rating and $6.75 price target.
In the report, Wunderlich Securities noted, “We are initiating coverage of Cedar Realty Trust, Inc. (CDR) with a Buy rating and a 12-month price target of $6.75. CDR's simplified grocery-anchored shopping center strategy should be able to capitalize on a return of retailer demand paired with embedded rent growth as leases roll off that were underwritten during the more challenging years of the Great Recession (2009-2011). CDR's turnaround strategy is evident through substantially stronger forecasted dividend coverage due to deleveraging, while demand within grocery-anchored shopping centers has held steady through 2013.”
Cedar Realty Trust closed on Friday at $5.13.
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