Bear of the Day: Cedar Realty (CDR)
Not all Bears of the Day are meant to be a sort of death knell. Here at Zacks, we are not in the business of writing hit pieces, although I am sure some Bear of the Day shareholders feel that way. The Bear of the Day is meant to shine some light on what has been happening with earnings estimates. When analysts on Wall Street are cutting their estimates, it could spell retraction in future earnings. The Zacks Rank and the Bear of the Day can help set an expectation for what is to come in the near-term. It can also be a helpful guide for potential tops or small pullbacks in a long-term stock.
The Bear of the Day I’m talking about is Cedar Realty Trust (CDR). Cedar Realty Trust, Inc. is a real estate investment trust which owns a portfolio of predominantly grocery-anchored shopping centers in high-density urban markets from D.C. to Boston. Obviously, stocks within this industry have taken a hit as the COVID-related shutdowns put a hurting on local economies.
Currently, Cedar Realty Trust is a Zacks Rank #5 (Strong Sell). The reason for the bearish rank is a move lower in earnings estimates coming from analysts. Over the last week, analysts have come out and cut their earnings forecasts for the current year and next year. While next year’s Zacks Consensus Estimate is down from $2.58 to $2.48, next year’s number is off from $2.61 to $2.50. That pegs growth for next year at merely 81 bps. For the current year, that’s a decline of 13.89% versus the previous year.
Cedar Realty Trust, Inc. Price and Consensus
Cedar Realty Trust, Inc. price-consensus-chart | Cedar Realty Trust, Inc. Quote
The REIT and Equity Trust industry ranks in the Bottom 13% of our Zacks Industry Rank. For investors looking for other names within the same industry, there are three stocks which are in the good graces of our Zacks Rank. Those three stocks include Apple Hospitality REIT (APLE), OUTFRONT Media (OUT) and One Liberty Properties (OLP).
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