Market Overview

UPDATE: Bank of America Downgrades Cedar Realty Trust on Valuation

Share:
Related CDR
Baird Initiates Coverage On REIT Sector, Gives Top Picks
KeyBanc Positive On Cedar Realty Trust After Management Meetings
Taubman Centers: Can Revenues Grow on Higher Mall Stake? - Analyst Blog (Zacks)

In a report published Tuesday, Bank of America analyst Craig Schmidt downgraded the rating on Cedar Realty Trust (NYSE: CDR) from Neutral to Underperform, but reiterated the $5.75 price target.

In the report, Bank of America noted, “We are downgrading Cedar Realty Trust (CDR) to Underperform from Neutral and maintain our $5.75 price objective. Although we do not foresee any major near-term negative catalysts, the current valuation suggests an Underperform rating relative our coverage cluster. CDR is up +16.2% over the last 90 days compared to Shopping Center REITs down -0.4%. We believe valuation is full at current levels.”

Cedar Realty Trust closed on Monday at $6.01.

Latest Ratings for CDR

DateFirmActionFromTo
May 2015WunderlichMaintainsHold
Mar 2015BairdInitiates Coverage onNeutral
Nov 2014WunderlichMaintainsHold

View More Analyst Ratings for CDR
View the Latest Analyst Ratings

Posted-In: Bank of America Craig SchmidtAnalyst Color Downgrades Analyst Ratings

 

Related Articles (CDR)

Around the Web, We're Loving...