Cedar Realty reports higher earnings
Cedar Realty Trust, Inc., a real estate investment trust specializing in ownership of shopping centers in the Northeast, reported higher quarterly earnings because of an increase in revenue from rent.
Port Washington-based Cedar Realty said funds from operations -- a measure used to evaluate real estate investment trust earnings -- was $9.5 million, or 13 cents per share, in the three months ending Sept. 30, up from $6.7 million in the year-ago period.
Revenue at the company was $35.4 million for the quarter, up from $33.4 million for the same time last year. The company's earnings were in line with Wall Street analysts' expectations, and the stock was static in aftermarket trading.
Cedar, which has a stock market value of around $430 million, primarily owns grocery store focused shopping centers. Its current portfolio includes 67 properties, primarily in the Washington D.C. to Boston corridor.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
Sarra Sounds Off Ep. 35: EI baseball, girls lacrosse and plays of the week On the latest episode of "Sarra Sounds Off," we look at East Islip baseball's inspirational comeback story, Jared Valluzzi has the plays of the week and Tess Ferguson breaks down the top defensive players in girls lacrosse.
