Cedar Realty Trust Business Update and Portfolio Performance

Cedar Realty Trust has been actively updating its business strategy to adapt to changing market conditions. The company has been focusing on improving its financial performance through various initiatives.

Cedar Realty Trust's portfolio has been performing well, with a significant increase in occupancy rates. This is a result of the company's efforts to reposition its properties to meet the evolving needs of its customers.

As of the latest update, Cedar Realty Trust's total portfolio value has reached $1.3 billion, with a diverse mix of properties across the Mid-Atlantic region.

Cedar Realty Trust is a fully-integrated real estate investment trust that focuses on owning, operating, and redeveloping grocery-anchored shopping centers in high-density urban markets.

The company was founded in 1984, which has given them a solid foundation to build on over the years. They have a relatively small team of 56 employees, which likely allows for a more agile and responsive approach to their business.

Their CEO is Bruce Schanzer, who likely plays a key role in making strategic decisions for the company. You can visit their website at www.cedarrealtytrust.com to learn more about their mission and values.

Cedar Realty Trust's portfolio is impressive, comprising 54 properties with approximately 8.1 million square feet of gross leasable area.

Cedar Realty Trust has a solid financial performance track record, with a net income of $29.3 million in 2020.

The company's revenue has been steadily increasing over the years, reaching $144.5 million in 2020.

Cedar Realty Trust's ability to generate consistent revenue and net income is a testament to its effective management and diversified portfolio of properties.

Cedar Realty Trust has been publicly traded since 2003, when it went public via an initial public offering. This move allowed the company to raise capital and expand its operations.

The company has made significant acquisitions over the years, including a 27-property portfolio in 2005 for $90 million. This acquisition helped increase the company's portfolio and revenue.

In 2010, Cedar Realty Trust acquired 7 shopping centers from PREIT for $168 million, further expanding its presence in the market. This acquisition demonstrates the company's ability to make strategic purchases.

The company's share price has fluctuated over the years, with a 52-week high of $26.30 and a 52-week low of $6.20. The current share price is $8.85.

Here is a summary of the company's share price performance over the past year:

Cedar Realty Trust has sold its entire portfolio for $1.2 billion in at least three transactions.

The portfolio includes 53 properties spanning approximately 7.6 million square feet of gross leasable area, spread across eight northeastern states from Virginia to Massachusetts.

The largest chunk of the portfolio, its 33 grocery-anchored shopping centers, will be sold for $840 million to a joint venture between DRA Advisors and KPR Centers.

Cedar is in talks to sell two redevelopment projects, the former Riverview Plaza mall in South Philadelphia and the East River Park shopping center in Washington, D.C., for $34 million and $46.5 million, respectively.

Those projects will be acquired by the DRA-KPR joint venture for $80.5 million if the sales are not completed before the sale of the grocery-anchored portfolio closes.

The REIT's remaining assets, mostly other shopping centers, will be sold to Wheeler Real Estate Investment Trust in an all-cash merger that values those properties at $291.3 million.

This merger will result in Cedar being owned by Wheeler and its common stock no longer being publicly traded.

Cedar's board of directors unanimously approved the deals, which are estimated to garner total net proceeds of more than $29 per share in cash.